Renish Group, the USD 600 million firm in the oil storage space, has appointed Rakesh Mehra as its new CEO for Southeast Asia.
Mehra has been appointed as the Group's Director - Strategy and Planning in the UAE as well, a company statement said here.
"He now leads the Group's overall growth and key operations in Southeast Asia, while concurrently spearheading the creation and implementation of its strategic business plans in the Emirates," it said.
Mehra has started his new role from February 1 at the Group's Mumbai office.
Although Renish's Indian base in Mumbai was opened last year, the group has been an exporter of petroleum products to the Indian market for several years.
"Mehra, with his strong track record in the field of oil and gas, has led multidisciplinary teams and demonstrated effectiveness in managing diverse groups and strategic vision for the management of change and development within businesses," it said.
Southeast Asia is one of the leading global markets with considerable growth potential.
According to a Aruvians Research report, 'Analyzing the Global Oil & Gas Storage Industry', the lack of storage infrastructure in major oil-consuming states such as India and China is one of the main factors behind the expanding regional oil storage industry.
Mehra previously worked for Bharat Petroleum Corp Ltd (BPCL), heading its International Trade business.
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