Aegis Vopak Terminals Limited has informed the Exchange about Framework Agreements executed between Company and Aegis Logistics Limited
AEGISVOPAK · price
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Aegis Vopak Terminals has signed a Framework Agreement to acquire a specialised Ammonia storage terminal at Pipavav Port with a static capacity of 36,000 MT from Aegis Logistics Limited (ALL), one of its promoters. The company will pay Rs 157.5 crores (₹1,575,000,000) upon execution of the agreement. A separate Business Transfer Agreement will be executed upon completion of the project. Since ALL is a promoter, this is a related party transaction, though the company states it has been done on an arms length basis.
This acquisition expands Aegis Vopak's terminal storage capacity and strengthens its ammonia handling infrastructure at Pipavav. For shareholders, it is a capacity addition paid out in cash, but being a related-party deal with the promoter, the arms-length pricing and future BTA terms will be key points to watch.