ANKARA: Shares climbed 5.6 percent intraday on getting land at Mangalore port for building storage terminal. “Aegis Group today announced allotment of 3 acres of land at Mangalore Port to build a storage terminal.
The land is allotted on a lease for a period of 30 years by New Mangalore Port Trust,” the company said in its filing. With this land allocation, Aegis Logistics will expand its presence to six ports of India – Mumbai, Pipavav, Kandla, Kochi, Haldia, and New Mangalore. These ports together manage 70 percent of POL traffic handled by major ports in India.
“The land allotment at Mangalore fits well with its strategy to add more terminals to portfolio, offering its customers logistics services throughout India at every gateway into and out of India,” Anish Chandaria, Managing Director & CEO said.
