CEO Petrochem Middle East Energy $1.08bn
WHEN YOGESH MEHTA ARRIVED in Dubai in 1990, he had no money, he’ll confess. What he was armed with, however, was a deep understanding of the chemicals industry, and a remarkable business savvy. Just five years after founding Petrochem with his business partner David Lubbock in 1995, both skills would turn the Harvard Business School graduate into a millionaire.
A business that now turns over roughly $1.4bn annually, Petrochem has gone from strength-to-strength to become one of the largest independent petrochemical distributors in the region. With a state-ofthe-art storage terminal for bulk and drum chemicals in Jebel Ali, as well as a scope of operations across the world, Petrochem is now exploring an eventual IPO.
Mehta believes that his organisation’s success has been based on anticipating market and customer needs, something he also impresses on his son, Rohan, who now heads business development at the organisation. He constantly asserts that his employees are the business’s greatest assets, and once told Arabian Business how he will sit with everyone from the cleaning staff to board members in his company canteen to gauge their views.
When it comes to innovation, what really stands out is the state-of-the-art facility in Dubai’s Jebel Ali Free Zone that he built. Established in 1999, the facility includes three dedicated jetty pipe lines, 23 bulk tanks to import and store products in bulk with a total capacity of 2,5650 cubic metres, a modern firefighting system covering all areas with foam and sprinklers and all other associated infrastructure facilities.
The terminal handles more than 180 variants of chemicals, exports more than 700,000 metric tonnes of products to all the corners of the world and is one of the most advanced and efficient facilities of its kind anywhere on the planet.
Yogesh Mehta’s son Rohan (left) earned a BS in Economics Degree from Northeastern University in Boston