Indian terminal operator Aegis Vopak Terminals’ 86%-owned subsidiary has bought India’s first independent ammonia storage terminal, a facility with 36,000 tonnes of static capacity at Pipavav port, for INR5.25bn ($54.8m), according to the company’s 24 August 2026 regulatory filing.
Aegis Terminal (Pipavav) Limited acquired the facility from Aegis Vopak’s Indian promoter, Aegis Logistics Limited, under a business transfer agreement effective 24 August.
The related-party transaction was structured as a slump sale of a going concern on an arm’s-length basis. The price was payable when the agreement was signed and will be funded through internal accruals and debt.
The terminal entered service on 10 August after Aegis Logistics developed it on ATPL’s behalf. It is designed to handle third-party ammonia imports for fertiliser production and could support future green-ammonia exports.
The project was announced on 20 June 2025 with an initial value of about €53m ($61.9m), then equivalent to around INR5.3bn ($55.4m at the latest rate).
Part of the capacity is backed by a 15-year take-or-pay agreement with Hindustan Zinc Limited for its upcoming DAP plant.
Itochu Corporation bought 10% of ATPL for INR803.2m ($8.4m) on 30 March 2026, leaving Aegis Vopak with an 86% holding.
Aegis Vopak Terminals Limited is an Indian terminal-infrastructure company formed as a joint venture between Aegis Logistics Limited and Royal Vopak N.V. Its network spans six Indian ports: Kandla, Pipavav, Mangalore, Kochi, Haldia and Mumbai.
ATPL is the Indian project company through which Aegis Vopak holds its interest in the Pipavav terminal.
Aegis Logistics is an Indian oil, gas and chemical logistics provider. Royal Vopak is a Dutch tank-storage infrastructure company.
Hindustan Zinc is an Indian producer of zinc, lead and silver.
Itochu is a Japanese trading and investment company.