Sri Prakash Lohia

Sri Prakash Lohia (born 11 August 1952) is an Indian-born Indonesian billionaire businessman, and the founder and chairman of Indorama Corporation, a diversified petrochemical and textile company.

Sri Prakash Lohia
Born (1952-08-11) 11 August 1952
Calcutta, India
CitizenshipIndonesian
EducationUniversity of Delhi
OccupationBusinessman
Known forFounder and chairman, Indorama Corporation
SpouseSeema Lohia
ChildrenAmit Lohia and Shruti
Parent(s)Mohan Lal Lohia
Kanchan Devi Lohia
RelativesLakshmi Mittal (brother-in-law)
Aloke Lohia (brother)
Aarti Lohia (daughter-in-law)
Websitewww.indorama.com

Lohia hails from India, but has spent the majority of his professional life in Indonesia since 1974.[1] In 2013, Forbes ranked him as the 6th richest person in Indonesia, with a net worth of US$3 billion.[2]

Early life

Lohia was born in Kolkata on 11 August 1952 to Mohan Lal Lohia and Kanchan Devi Lohia. He has three brothers—Om, Ajey (original name Ajay Prakash), and Aloke (original name Alok or Anil Prakash)—and one sister—Aruna.[2][3]

Career

In 1973, Lohia moved to Indonesia with his father Mohan Lal Lohia and started Indorama Synthetics, which began to manufacture spun yarns in 1976.[4]

The company was divided in the late 1980s by Mohan Lal Lohia between his three sons to avoid family disputes in the future. Lohia's elder brother Om Prakash moved to India and set up Indorama Synthetics. Aloke, Lohia's younger brother, went to Thailand to found Indorama Holdings, which is a wool yarn producer.[4]

In 1991, Indorama Synthetics diversified into the manufacture of polyester fibers and then polyester bottle-grade (PET) resins in 1995.

In 2006, Lohia acquired an integrated olefin plant in Nigeria, which is today the largest petrochemical company in West Africa and the second largest olefin producer in Africa.[1]

Indorama Corporation is Lohia's principal holding company, which is based in Singapore.

Wealth

In 2015, the Lohia family was one of the 50 wealthiest families in Asia.[5]

Personal life

Lohia rarely gives interviews or makes public appearances.[6]

Lohia and his wife, Seema Mittal (sister of Lakshmi Mittal), have two children, Amit and Shruti. Amit graduated magna cum laude from the University of Pennsylvania's Wharton School of Business.[7][8] He is the managing director of Indorama Corporation and a director in various Indorama companies. Lohia's daughter, Shruti Hora, graduated from Babson College and currently resides in Singapore. Lohia is brother-in-law of Lakshmi Mittal.

Lohia is one of the world's largest collectors of old books and lithographs.[9] He has the world's second largest collection of colored lithographs. In 2012, the formation of Indorama Charitable Trust was initiated by the Lohia family, led by SP Lohia. One of the trust's objectives was to digitize his lithographs as well as those housed in other renowned libraries worldwide, a portion of which is shared for public at www.splrarebooks.com. Presently, the vision of SP Lohia is being carried forward by the Indorama Charitable Trust and the www.splohiafoundation.org, both of which are presently under the leadership of Aarti Lohia, his daughter-in-law.

Awards

In 2012, Lohia was given the Pravasi Bharatiya Samman award (Overseas Indian award) by the President of India.[10]

See also

References
  1. "Indian-Indonesian Billionaire S. P. Lohia's Turnaround Success In Nigeria". Forbes.
  2. "Sri Prakash Lohia". Forbes.
  3. "Teach India comes calling to Himachal hills". The Times of India. 11 August 2012. Retrieved 19 July 2018.
  4. Balachandran, Manu. "How this synthetics tycoon went from teenage Indian emigrant to one of Indonesia's richest men". Quartz. Retrieved 22 May 2017.
  5. "Lohia family". Forbes. Retrieved 22 May 2017.
  6. "Lesson from RI's richest man: Don't break trust". The Jakarta Post. Retrieved 22 May 2017.
  7. "Amit Lohia".
  8. "Amit Lohia: A young entrepreneur boldly going global". The Jakarta Post.
  9. "Global polyester king".
  10. "Pravasi Bharatiya Samman Award List 2012" (PDF).
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