Yo­gesh Me­hta

CEO Petrochem Mid­dle East En­ergy $1.08bn

Arabian Business English - - RICHEST INDIANS IN THE UAE -

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

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