The Board of Directors of Aegis Logistics Ltd . has approved the acquisition of 100% shares of Konkan Storage Systems (Kochi) Pvt. Ltd. (KCPL).KCPL has an asset block of Rs.26 crores and it owns and operates 51,000 KL Bulk Liquid Logistics Infrastructure at Kochi, one of the major ports in South India. This acquisition is in line with the Company's plans to have a presence in at least five major ports by 2010-11.
Kochi Port is a fast growing all weather natural Port strategically located with coastal refinery and chemical/fertilizer units, almost identical to Mumbai Port.Aegis's first priority will be to upgrade the Terminal and related facilities to global standards in tune with Aegis's other existing sites.
Aegis continues to pursue a number of opportunities at various major Ports including acquisition and/or greenfield projects in connection with Logistics of Oil, Gas & Chemicals.
