Yogesh Mehta

Yogesh Mehta shifted his focus from India to Dubai in 1990, marking the start of an extraordinary entrepreneurial journey.

Having established his business empire in 1995, Mehta has built Petrochem Middle East into a billion-dollar firm that operates a sprawling storage terminal at Dubai’s Jebel Ali port and has an annual turnover in excess of $1.5bn annually.

From this terminal, the conglomerate exports over three million metric tonnes of chemical products annually to customers in 27 countries, with its main markets in the GCC, India and Africa. Petrochem has distribution rights for a variety of chemical products from Shell, Eastman Chemical Company, and LyondellBasell. The firm sells these products to companies primarily in the painting, coating, printing, and packaging industries, as well as the oil and gas sector.

The making of Yogesh Mehta

Facing financial pressures in India and seeking a new beginning, Mehta spent countless hours at the Dubai Municipal Library conducting in-depth research. He focused on the regional chemical market, studying its key players and consumption trends.

Mehta’s hard work culminated in a detailed business plan for a chemical trading venture. Despite initial scepticism, his persistence led him to a financial partner who shared his vision. The partnership, established on June 6, 1990, marked the start of the Indian tycoon’s steadfast journey in the chemical business, a path to which he has remained dedicated ever since.

His strategy involved identifying and supplying high-demand speciality chemicals in the Middle East. Mehta built a state-of-the-art bulk storage terminal in Jebel Ali Free Zone, Dubai and assembled a dedicated team of sales engineers committed to the company’s growth.

Under his stewardship, Petrochem’s focus on quality service, credit availability, and innovation quickly established the company’s reputation. As trust in the company’s services grew, so did its product range. Mehta acknowledges the advantages of being in the rapidly growing UAE and Middle East markets, which provided ample opportunities for significant expansion.

He believes that establishing Petrochem was not just about business acumen but also about the people involved.

Scaling business

Scaling a business involves understanding and meeting people’s needs to enhance their performance, aligning with your entrepreneurial goals. Mehta attributes Petrochem’s consistent driver of growth to steadfast ethics, excellent service, and earning people’s trust.

A Harvard Business School Alumnus, Mehta is constantly eyeing the horizon to elevate Petrochem to the next level. With the assistance of his son Rohan, who joined Petrochem over a decade ago, he strives to build Petrochem further and diversify into portfolio and markets globally. Rohan’s involvement has injected new energy, fresh ideas, and a sense of continuity into the company.

Technology has propelled rapid changes, and the younger generation, with their vast knowledge and ambition, faces both opportunity and overload. However, Mehta’s advice to the tech-savvy individuals is both practical and insightful.

“The usefulness of all this data can be uncertain, and though the new generation is smart and will find new opportunities, they must work harder and smarter,” he observes. Transforming a company like Petrochem requires more than just adapting — it demands a complete reinvention. Mehta’s vision for the company’s future remains both realistic and optimistic.

On the Corporate Social Responsibility (CSR) front, Mehta’s journey as the vice chairman and trustee of the iconic Abu Dhabi temple offers a powerful message of resilience, adaptability, and steadfast commitment to values.

Mehta’s story transcends the realm of business success; it’s a testament to the human spirit’s capacity to dream, endure, and ultimately triumph.