Aegis Logistics Limited announced that its Board of Directors approved the issuance of consent for the assignment of rights related to the specialized Ammonia storage terminal at Pipavav Port. The rights, originally held by Aegis Vopak Terminals Limited (AVTL), are being transferred to ATPL, a subsidiary of AVTL. The completion of the project will be followed by a separate Business Transfer Agreement with ATPL. The Board meeting concluded swiftly on March 26, 2026.
Board Decision on Terminal Assignment
At the meeting held on Thursday, March 26, 2026, the Board of Directors of Aegis Logistics Limited granted approval for a crucial corporate action. This approval pertains to the issuance of consent for the assignment of rights regarding the specialized storage terminal located at Pipavav Port.
Background of the Project
This move follows an earlier disclosure from June 19, 2025, when the Company entered into a Framework Agreement with Aegis Vopak Terminals Limited (AVTL). This agreement covered the transfer of the specialized 36,000 MT static capacity Ammonia terminal, which was constructed and developed by Aegis Logistics. The Board has now approved the consent for AVTL to assign its rights to transfer this terminal to Aegis Terminal (Pipavav) Limited (“ATPL”), which is identified as a subsidiary of AVTL.
Next Steps Post-Completion
Following the successful completion of the project, Aegis Logistics Limited confirmed that it will execute a separate Business Transfer Agreement directly with ATPL. Further details required under applicable regulations will be furnished once this definitive agreement is executed.
Meeting Summary
The Board of Directors Meeting commenced at 05:03 p.m. and concluded successfully at 05:20 p.m. on the same day.
Source: BSE
