Sri Prakash Lohia, born on August 11, 1952, in Kolkata, is a remarkable figure in the business world. He is an Indian-born Indonesian billionaire businessman and the founder and chairman of Indorama Corporation, a diversified petrochemical and textile company. With a fascinating journey that spans continents, Zatrun.com has delved into the life and career of this influential entrepreneur to uncover the impact he has had on the industries he’s touched.
A Journey from India to Indonesia
Lohia’s roots trace back to India, but it’s in Indonesia where he has made a profound mark. Since 1974, he has dedicated the majority of his professional life to this dynamic country. His journey is a testament to the idea that success knows no boundaries and that the entrepreneurial spirit can thrive anywhere.
Born to Mohan Lal Lohia and Kanchan Devi Lohia, Sri Prakash Lohia grew up in a family with deep connections to business. He has three brothers—Om, Ajey (original name Ajay Prakash), and Aloke (original name Alok or Anil Prakash)—as well as one sister, Aruna. This family’s business acumen has left a lasting legacy in various industries.
Building Indorama Corporation
In 1973, Sri Prakash Lohia embarked on a significant journey to Indonesia with his father, Mohan Lal Lohia. Together, they established Indorama Synthetics, a company that would eventually become a major player in the textile industry. The company’s history is intertwined with the Lohia family’s vision for a brighter future.
As the years went by, Indorama Synthetics diversified and expanded its scope. It transitioned from manufacturing spun yarns in 1976 to producing polyester fibers and polyester bottle-grade (PET) resins. This forward-looking approach and continuous growth positioned the company as a leader in its field.
Sri Prakash Lohia: A Family Legacy
In a strategic move to prevent potential family disputes in the future, the Lohia family divided the company in the late 1980s. This division ensured that each of the three brothers could chart their own course in the business world. Sri Prakash Lohia’s elder brother, Om Prakash, established Indorama Synthetics in India, while Aloke ventured to Thailand to create Indorama Holdings, specializing in wool yarn production. The Lohia family’s expansion strategy encompassed multiple countries, further solidifying their influence.
In 2006, Sri Prakash Lohia took a significant step by acquiring an integrated olefin plant in Nigeria. Today, this plant stands as the largest petrochemical company in West Africa and the second largest olefin producer in the entire African continent. This strategic investment positioned Indorama Corporation as a dominant force in the petrochemical sector.
The Path to Prosperity
Sri Prakash Lohia’s journey reflects a remarkable story of turning challenges into opportunities. His vision, combined with unwavering dedication, has led to extraordinary success. His entrepreneurial spirit has transcended borders, creating a legacy that continues to shape the industries he has entered.
In 2013, Forbes recognized Sri Prakash Lohia as the 6th richest person in Indonesia, with a net worth of US$3 billion. His achievements have not only elevated his financial status but have also made him a notable figure in the business world.
A Private Figure with a Global Vision
Sri Prakash Lohia is known for his significant contributions to business, but he prefers to keep a low profile. He rarely gives interviews or makes public appearances, focusing his efforts on shaping industries behind the scenes.
Sri Prakash Lohia’s family plays an essential role in his life and legacy. He is married to Seema Mittal, sister of the renowned business magnate, Lakshmi Mittal. Together, they have two children, Amit and Shruti. Amit, a distinguished graduate of the University of Pennsylvania’s Wharton School of Business, serves as the managing director of Indorama Corporation. Shruti Hora, the daughter, graduated from Babson College and resides in Singapore.
Lohia’s impact extends beyond business. He is renowned as one of the world’s largest collectors of old books and lithographs. With the formation of the Indorama Charitable Trust, led by his daughter-in-law Aarti Lohia, his vision of digitizing these invaluable collections is shared with the world. This commitment to preserving historical treasures showcases his dedication to cultural heritage and education.
Awards and Honors
In 2012, Sri Prakash Lohia was honored with the Pravasi Bharatiya Samman award (Overseas Indian award) by the President of India. This award recognized his outstanding contributions to the business world and society at large.
In conclusion, Sri Prakash Lohia’s journey from India to Indonesia and his impact on the petrochemical and textile industries are a testament to the power of entrepreneurship and vision. His legacy continues to shape and inspire, serving as a remarkable example of what can be achieved through dedication, innovation, and hard work.
