Sri Prakash Lohia, nomad who was included in RI’s richest people list

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Sri Prakash Lohia is one of the Indians who migrated to another country, namely Indonesia. Now he is among the richest people in Indonesia.

Now Sri Prakash has had success with the Indorama company in Purwakarta, West Java. His spun yarn company was founded in 1976.

Sri Prakash was still a teenager when he decided to come to Indonesia. He came to Indonesia at the age of 21. Together with his father he founded a textile raw materials company.

“Hard times come in the first three to four years,” he said, quoted from Quatz India, Wednesday (3/23/2022).

His father’s business continued to grow rapidly. Until finally the company was divided among his three children. Some were developed in Thailand after India. Prakash himself runs a company in Indonesia.

In the mid-1990s, Prakash wrote a new story. His company decided to make polyethylene terephthalate (PET), which is used to make plastic drink bottles like Coca Cola and Pepsi.

The company also continues to grow through the collaboration between companies in Indonesia and Thailand owned by his sister to become Indorama Venture. This move leads to the fact that the company has a fairly large income.

Apparently, in 2014, the company reported net sales of $726 million and profit of $4 million.

“We have always imported polyester (the basic raw material for yarn) from Taiwan for four years. But I decided to make it myself. So we bought plants from big companies, including Dow Chemicals in Italy, Dupont in America and SK Chemicals in Poland and Indonesia,” he said some time ago.

As well as owning a yarn manufacturing business, the 66-year-old also owns several companies such as the oil sector in Nigeria and a fertilizer company that can add to his wealth. The company has annual sales of $10 billion.

With Prakash’s foresight in business, the man, listed as an Indonesian citizen, is finally included in the list of Indonesia’s richest people. Currently, Sri Prakash is the 4th richest person in Indonesia with a total wealth of US$6.4 billion or Rs.92.8 trillion (exchange rate of Rs.14,500).

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