In a move to almost double its port handling and oil storage capacity, India's Aegis Logistics Ltd. has scheduled $19 million worth of investments over the next 18 months, reports said.
Reports also said that Aegis is looking to take over an existing terminal or acquire land for development at Mumbai's Jawaharlal Nehru (Nhava Sheva) port and the ports of Kandla, Vizag and Paradip.
According to Aegis managing director S.K. Hazra, the company is currently bidding for operational and maintenance contracts to run the terminals of oil marketing companies.
Aegis offers sourcing, storage and transportation services for oil, chemical and gas products and it currently handles about 238,000 metric tonnes (mt) at its Mumbai facilities.
Hazra says that Aegis plans to expand in Mumbai and set up a facility in Haldia to hit a capacity of about 396,000 mt in 18 months.
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