Dubai PR Network, Online Press Release from Dubai and Middle East
 
Oil & Gas(Energy and Industry)
Filter PR by
  
Renish Group officially launches Alaska International with higher storage capacity
 

March 27, 2018 - Renish Group, a growing company in oil space, has officially launched its Hamriyah port-based storage facility in the UAE, the Alaska International FZE, with higher capacity at 22 tanks as part of its continuing efforts to boost its storage ability and expand its operations in the Middle East.  

Renish Group acquired Alaska International in 2013 with just 60,000 m3 capacity for petroleum products. In just a few years, the company has increased its storage capacity to 125,000 m3 spread across its 22 tanks in light of expanding its operations in the region for base oil, bitumen, high centistokes (CST) fuel oil, Rubber Process Oil (RPO), and gas oil.

Kalrav Dixit, Executive Director, Renish Group, said: “Acquiring and expanding Alaska International is a timely move intended to achieve our vision to broaden our reach. The facility does not act as a storage point alone but it also allows us to expand our offerings to cover every stage of the entire supply chain system. It helps in blending, making bulk, breaking bulk of cargoes, and many others. Additionally, as Alaska International is based in the strategically located UAE - particularly in the Hamriyah port where opportunities for bunkering, exports and blending are immense - we will now be able to efficiently meet the requirements of leading global oil players and subsequently grow our business in this area.”

According to Renish Group, Alaska International’s 22 tanks are uniquely configured to handle clean and dirty products with direct connection to the outer berth with a 12-meter draft and the inner berth with a 7-meter draft.

Moreover, the storage facility’s dock infrastructure can handle vessels with 12.5-meter draft. It is served by two oil product pipelines connecting to the main docks and two oil product pipelines from the barge dock.

“Alaska International has the right capacity that can serve the various needs of our clients in the Indian subcontinent, the Red Sea, and East Africa. Renish Group is keen to invest more in this strategic sector as we consider the oil storage industry as the key to our further advancement and development as a business organization,” Dixit added.

With a vision to become a global energy organization, the Renish Group, an international energy trading company, has grown to become a USD 600 million company in 2017 from a USD 240 million company in 2012, with assets estimated at USD 300 million.

Owning and operating a storage terminal has allowed the Renish Group to contribute to the growing trading activities in the region. In addition, investing in the sector, which is a key growth area for the organization, has also enabled the Group to capture the structural benefits of the oil markets with regard to the forward curve and future derivatives trading.


Posted by : Dubai PR Network Editorial Team
Viewed 3721 times
PR Category : Energy and Industry
Posted on : Tuesday, March 27, 2018  5:12:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Gulf Oil Middle East partners with Al Naboodah Group Enterpr...
Next Story : Geopolitics lift oil and gold while hurting copper
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Sacoor Brothers launches FIRST ever Fragrance “GENTLEMAN” [13694-Views]
Trend Alert! Summer Can Never Be a Forgotten Memory With kate spade [13158-Views]
Caudalie The Des Vignes [12804-Views]
Get Your Summer Glow From Within [12170-Views]
Palmer's Coconut Oil Formula for Body and Hair [10895-Views]
Corum Presents La Grande Vie [10297-Views]
Caudalie and Al Jalila Foundation Join Hands for the Launch of ‘Glamour for Good' [9827-Views]
Express Your Signature Style [8967-Views]
The Memovox Adventure [8436-Views]
Tissot Lepine It's making a comeback Vintage [8394-Views]
LG launches new AI-powered premium LG G7 ThinQ+ flagship for GCC consumers [8345-Views]
The Rado HyperChrome Skeleton Automatic Chronograph Limited Edition [7296-Views]
Manero Peripheral (43 Mm) Classic Watchmaking Meets State -of-the - Art Technology [6960-Views]
New short indie movie ‘The Peril' is a wake-up call to parents about internet safety for k... [6558-Views]
Dubai Parks and Resorts and GEMS Education launch the second annual Summer Camp [6466-Views]
The Lacoste Family Capbreton Collection [6368-Views]
OMEGA's second "Speedy Tuesday" sells in 01:53.17 [6259-Views]
Ferrari takes the “Red Dot: Best of the Best” design award for the fourth year running [6192-Views]
Sandooq Al Watan and DarkMatter Launch Second Phase of "Emirati Coder" [6118-Views]
Olivia Burton Watercolour Florals [5460-Views]
Ulysse Nardin Salutes Us Navy With Limited Edition Executive Skeleton Tourbillon [5435-Views]
Beat the heat with mini dresses [5289-Views]
Director of Dubai Customs discusses fostering business with South Korean Consul General [4819-Views]
Tridom, Ras Al Khaimah's first indoor adventure park, opens its doors in Manar Mall [4776-Views]
Cerruti 1881 Infinite Love [4398-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories