Itochu to invest Rs 250 cr in Aegis Logistics' Haldia LPG terminal project

Japan’s Itochu Corporation, through its subsidiary Itochu Petroleum Co (Singapore) Pte Ltd, will acquire 19.7 percent stake in Hindustan Aegis LPG Company Ltd (HALPG), a wholly-owned subsidiary of Aegis Logistics Limited, with an investment of Rs 250 crores. HALPG is developing and executing a major new LPG import terminal project at Haldia Port, West Bengal. The understanding is subject to final agreement and approval by the Board of Aegis Logistics Ltd, as well as customary conditions precedent and normal regulatory approvals.

“This investment in the new Haldia terminal is phase 2 of our joint venture with Itochu which we established in