Aegis may buy terminals at 5 ports

In a bid to construct a national network of logistics facilities, Mumbai-based Aegis Logistics plans to acquire liquid terminal facilities at five major ports.

The company is also exploring options to set up greenfield projects in these ports, which include the Jawaharlal Nehru Port, Kochi Port, Kandla Port, New Mangalore Port and the Visakhapatnam Port.

Currently, the company operates the Mumbai Port liquid terminal and is in the business of storing, handling and distributing oil products, chemical and gas.

Confirming the development, S K Hazra, managing director, Aegis Logistics, said talks to acquire liquid terminal facilities at the three ports were in advanced stages.

Earlier, the company had acquired city-based Sealord Containers (SCL) and is developing the terminal site which is attached to Aegis facility.

"The three-year upgradation programme of the terminal at Mumbai Port is near completion. Upon completion of the expansion, the total capacity of the group's site will raise by 50 per cent by 2007," Hazra said.

Hazra said Aegis plans to foray into propylene gas storage and logistics, thereby increasing the gas storage capacity by a further 15-20 per cent by 2007-08. The company is already into propane gas distribution.

Meanwhile, Aegis has chalked out plans to set up 100 autogas retail outlets in five western states.

The company, currently has four autogas dispensing stations providing liquified petroleum gas (LPG) facility for kit installation for cars and auto rickshaws.

"Currently, Aegis is in process of setting up over 20 autogas stations in various parts of the country. We will be setting up 50 autogas stations by 2007 in Karnataka, Chhattisgarh, Rajasthan, Madhya Pradesh and Andhra Pradesh," said Hazra.

He added that revenues from these initiatives, including liquid terminals, would be reflected in financial year 2007-08.