ITOCHU Corporation, headquartered in Minato-ku, Tokyo, has acquired a stake in Aegis Terminal (Pipavav) Ltd. (ATPL) from Aegis Vopak Terminals Ltd. (AVTL), marking its entry into the ammonia storage terminal business at Port Pipavav in Gujarat, India. The investment strengthens ITOCHU’s presence in India’s growing ammonia logistics market. The terminal, described as India’s first independent ammonia storage terminal, completed construction and became operationally ready on August 10, 2026.
36,000-MT Ammonia Storage Terminal
The project features a newly constructed ammonia storage tank with a capacity of approximately 36,000 metric tonnes (MT), equivalent to 52,000 m³. In addition to the storage facility, the terminal integrates essential logistics infrastructure, including cargo-handling systems, pipelines, and truck loading and unloading facilities. Its location at Port Pipavav provides strategic access to India’s western industrial markets and supports efficient ammonia distribution.
Rising Demand for Ammonia in India
Global population growth, increasing food and energy requirements, and the transition towards cleaner energy are driving demand for ammonia. Traditionally, ammonia has served primarily the fertilizer and industrial sectors. However, its role is expanding as industries explore its potential as a clean fuel and hydrogen carrier. Against this backdrop, ITOCHU expects India’s ammonia demand to increase over the medium to long term. The company plans to leverage its established relationships with key customers, including fertilizer and chemical manufacturers, while also exploring opportunities in fuel and clean-energy applications.
ITOCHU Strengthens Ammonia Supply Chain
ITOCHU has already developed terminal businesses with companies within the Aegis Group, particularly in the LPG sector. Building on this experience, the company now aims to expand its presence in India’s ammonia market. The investment will support the development of stronger logistics infrastructure and a more reliable ammonia supply chain as domestic demand continues to grow. ITOCHU will operate the business through a joint business model that combines its global ammonia trading network with the domestic and international terminal-management capabilities of the Aegis and Vopak Groups.
Supporting India’s Clean Energy Transition
Ammonia is increasingly gaining attention beyond its established fertilizer applications. As industries pursue decarbonisation, ammonia can potentially serve as a hydrogen carrier and low-carbon fuel, creating new opportunities across energy, shipping and industrial applications. Therefore, the new terminal could play an important role in supporting India’s evolving ammonia ecosystem by providing dedicated storage and logistics infrastructure for both traditional and emerging applications.
Expanding Downstream Business Opportunities
ITOCHU’s investment aligns with its management policy, “The Brand-new Deal: Profit opportunities are shifting downstream.” Through this strategy, the company aims to expand its business domains by responding to changing market requirements and developing businesses closer to end users. As per the press release, with its ammonia trading capabilities, terminal infrastructure and partnerships with established logistics operators, ITOCHU aims to strengthen its position in India’s rapidly developing ammonia market while contributing to a more resilient and sustainable energy and industrial supply chain.
