Indorama Ventures founder and Group CEO, Mr. Aloke Lohia, has entered the ICIS 2011 global chemical sector Top 40 Power Players table at number 14. ICIS, an information firm that deals with the chemical industry, recognizes executives who are making their mark on the chemical sector each year.
Indorama Ventures is Thailand’s largest family-led petrochemical firm and its market cap has risen fivefold since listing in February 2010. Aloke Lohia’s growth strategy has prominently featured mergers and acquisitions. The company has bought the polyethylene terephthalate (PET) polyester assets of larger firms such as US-based Eastman Chemical and South Korea’s SK Chemicals globally to become the world’s largest manufacturer in the polyester value chain. Lohia has set his sights on ranking amongst the top 20 chemical firms and a step in this direction is his Aspiration 2014 plan, which budgets $3.8bn (€2.9bn) in investments and targets a capacity of 10 million tons. He believes that the core PET segment growth at 7% annually is defensible because of its affordability