Renish Group, a growing company in oil area, has officially launched its Hamriyah port-based storage space facility in the UAE, the Alaska International FZE, with higher capacity at 22 tanks as part of its proceeding efforts to improve its storage space capability and increase its operations in the Middle East.

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

Kalrav Dixit, Executive Director, Renish Group, said: "Acquiring and expanding Alaska International is a timely relocation meant to accomplish our vision to broaden our reach. The facility does not work as a storage space factor alone but it also allows us to broaden our offerings to cover every stage of the whole supply chain system. It assists in blending, making mass, damaging mass of cargoes, and many others. Additionally, as Alaska International is based in the tactically located UAE - specifically in the Hamriyah port where chances for bunkering, exports and blending are immense - we will certainly currently be able to efficiently satisfy the requirements of leading global oil players and consequently grow our business in this area.

According to Renish Group, Alaska International's 22 storage tanks are distinctly configured to take care of clean and dirty products with direct link to the external berth with a 12-meter draft and the internal berth with a 7-meter draft.

Moreover, the storage facility's dock framework could handle vessels with 12.5-meter draft. It is offered by 2 oil product pipes linking to the main docks and 2 oil item pipes from the barge dock.

"Alaska International has the ideal capacity that could serve the various demands of our clients in the Indian subcontinent, the Red Sea, and East Africa. Renish Group is keen to spend extra in this calculated field as we consider the oil storage industry as the key to our more advancement and development as a company," Dixit added.

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

Having and operating a storage space terminal has allowed the Renish Group to contribute to the growing trading activities in the region. In addition, buying the sector, which is a key growth area for the organization, has likewise allowed the Group to record the architectural advantages of the oil markets when it come to the forward contour and future derivatives trading.