Not all richest Indonesians in Forbes list are from Sumatra or Chinese descendant. Indian born Sri Prakash Lohia is a successful owner of polyester fiber manufacturer Indorama Ventures (formerly Indorama Synthetics). Although he only continued a family business, he managed to take the business into the next level by taking it into the public list in Bangkok Stock Exchange. He also managed to start another international level company that earns him even more wealth.
Although he now resides in London to take care of his international business, he is still a proud Indonesian who even opened a polytechnic school called Polytechnic Engineering School Indorama, and he invested a lot of money there. He also has several companies in other countries such as Turkey and Nigeria, and one of his children now helps him handling some of his business aspects.
The Start of Family Business
Sri Prakash Lohia was born in India in 1956, but later moved with his family to Indonesia in 1973. His father, Mohan Lal Lahia, already had a small garment business, inspired Sri Prakash to later start a new company called Indorama Synthetics in 1976. At first, his company only produced synthetic yarn, but later he and his brother Anil Prakash started to expand their products such as polyester fiber and PET (bottle grade polyester). Later in 1995, his company also produced resin products, and profits started to pour in really significant amount.
From one company, Sri Prakash’s business later expanded to Indorama Shebin, ISIN Lanka and Indorama IPLIK; all produce products related to synthetic fiber such as polypropylene, PET resin, polyethylene, and such. Later, he also built Medisa Technologies that made medical gloves.
Other Business Fields
Sri Prakash Lohia is not only successful in synthetic fiber industry. In 1995, Indorama ventured into quite successful property business. Later in 2006, he built a new olefin plant in West Africa, which later grew into the second biggest olefin plant facility in Africa. Finally, in 2009, Indorama was recognized as the biggest synthetic fiber manufacturer in the world, and the company later went public in Bangkok Stock Exchange. The international success of Indorama later grew into further areas in the world, and Indorama Synthetics became Indorama Ventures.
Currently, Sri Prakash Lohia is helped by his son, Amit, in handling some aspects of his business. Graduated from Wharton School of Business in Pennsylvania, Amit is now a manager for Indorama and helping his father with some of his businesses.