Firm Matters

Khaitan & Co advised ITOCHU Corporation in relation to acquisition of a portion of the equity securities of the Aegis Terminal (Pipavav) Ltd (the Target Company) from Aegis Vopak Terminals Ltd (the Seller)  (the “Transaction”), through which ITOCHU Corporation will participate in the ammonia storage terminal business operated by the Target Company at Port Pipavav, Gujarat.

The Project is India’s first independent ammonia storage terminal, completed and operationally ready on August 10, 2026.

Aegis Terminal (Pipavav) Ltd is an Indian company engaged in the business of owning and operating shore-based tank farm infrastructure for storage of imported liquefied ammonia gas. Aegis Vopak Terminals Ltd. is the majority shareholder of the Target Company and is engaged in the business of storage and terminalling facilities for LPG and oil, petroleum and chemical products.

The Target Company operates the ammonia storage terminal at Port Pipavav Gujarat (the “Project”) comprising a newly constructed ammonia storage tank of approximately 36,000 MT (52,000 m³) together with integrated logistics infrastructure including cargo handling facilities, pipelines and truck loading and unloading facilities.

The Firm was involved in the following: (i) conducting legal due diligence on the Target Company; (ii) reviewing and negotiating transaction documents; and (iii) assisting with closing.