Friday, March 5, 2010

Reliance (NSE:RELIANCE) Adds Bahama Clean Storage

Reliance Clean Storage Facilities

Reliance Industries (NSE:RELIANCE) in a bid to expand its business in the United States has leased a storage facility in the Bahamas that will hold about 1.2 million barrels of clean storage. The Borco Terminal is the specific storage facility leased by the Indian company.

This is the second clean storage facility leased by the company, as they've also leased 800,000 barrels of clean storage based in the harbor of New York from the Hess Corporation (NYSE:HES).

The deal for Borco has actually been done for some time, as it was reportedly completed sometime in the second half of 2009, although just being released.

To serve the European and Mediterranean markets, last year Reliance secured a clean storage facility at Ashkelon in Israel.

Reliance Clean Storage Facilities

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