ITOCHU Corporation, headquartered in Tokyo, announced that it has acquired a portion of the equity securities of Aegis Terminal (Pipavav) Ltd. (ATPL) from Aegis Vopak Terminals Ltd. (AVTL). Through this investment, ITOCHU has participated in the ammonia storage terminal business operated by ATPL at Port Pipavav in Gujarat, India. The terminal, India’s first independent ammonia storage terminal, was completed and became operationally ready on August 10, 2026.
The project includes a newly constructed ammonia storage tank with a capacity of approximately 36,000 metric tons (52,000 m³), together with integrated logistics infrastructure such as cargo handling facilities, pipelines, and truck loading and unloading facilities at Port Pipavav, a strategic port in western India.
Amid global population growth, rising food and energy demand, and the accelerating transition toward green energy, demand for ammonia is expanding. In addition to its traditional fertilizer and industrial applications, ammonia is also expected to see growing demand in clean energy applications, including as a fuel and hydrogen carrier. With medium to long term demand growth expected in the Indian market, ITOCHU aims to build on its long-term relationships with core customers, including fertilizer and chemical manufacturers, while also positioning itself for expansion into fuel and clean energy applications.
ITOCHU has developed storage terminal business with Aegis Group companies in India, primarily in the LPG sector. Building on that foundation, ITOCHU will also strengthen its presence in the ammonia sector by reinforcing logistics infrastructure and establishing a stable supply chain in the rapidly growing Indian market. ITOCHU will promote this business through a joint business model that combines its global ammonia trading network with the domestic and international terminal operating capabilities of the Aegis and Vopak Groups.
Under its management policy, “The Brand-new Deal: Profit opportunities are shifting downstream,” ITOCHU said it will expand its business domains while working toward the realization of a sustainable society by accurately understanding the increasingly diverse needs of a changing society and developing and transforming downstream businesses closer to consumers.
