Aegis Group announced early commissioning of 70,120 KL bulk liquid terminal at Pipavav Port in Gujarat.

The Pipavav - Phase I expansion was initiated in February 2013 to set up bulk liquid terminal of 1,20,000 KL & 2,700 MT of gas terminal & was targeted to commission in H2 FY2015. However, the best efforts of in-house project team resulted in advancement of project by six months. Over 50% liquid facilities has now been commissioned with 13 additional tanks operational with a storage capacity totaling to 70,120 KL.

Phase I of capacity expansion at Pipavav is a greenfield project to set up bulk liquid terminal with 31 tanks aggregating to the storage capacity of 1,20,000 KL and 2700 MT bulk gas terminal with estimated LPG handling capacity of 1,00,000 MT. With partial commissioning already done, the Company is confident that the project would be fully commissioned by H2 FY2015.

The expanded facilities at Pipavav Port shall enable the company to expand its horizons by catering to market of Northern and North Western Hinterlands. The new facilities shall store and handle petroleum, chemicals and petrochemical products, the company said.

With new capacity, Aegis Group will be able to handle liquid volumes of over 3 to 4 million MT and Gas volumes of over 750,000 MT. 

Shares of the company declined Rs 0.5, or 0.3%, to trade at Rs 168.25. The total volume of shares traded was 3,532 at the BSE (12.33 p.m., Monday).