Renish Group expands Hamriyah oil storage facility

Alaska International, the subsidiary of Dubai-based oil storage player Renish Group, has reportedly expanded storage capacity at Hamriyah port in an effort to tap into the growing UAE bunkering, exports and blending market.

Renish Group acquired Alaska International in 2013, when it had total storage capacity of 60,000 m3 for petroleum products.

The upgraded facility now has total capacity of 125,000 cubic metre (m3) and 22 tanks for storing base oil, bitumen, fuel oil, rubber process oil, and gas oil.

“Acquiring and expanding Alaska International is a timely move intended to achieve our vision to broaden our reach,” said Kalrav Dixit, Executive Director, Renish Group.

“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.”

Renish Group is an international energy trading company that has grown from a $240 million company in 2012 to a $600 million company in 2017, supported by approximately $300 million worth of assets.

“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,” adds Dixit.

“Our company 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 organisation.”

Photo credit: Renish Group
Published: 29 March, 2018