May 22, 2014 [Gulf Petrochem Group] - Gulf Petrochem, announced that its Board of Directors has appointed Thangapandian Srinivasalu as Executive Director for the group and member of the Board of Directors effective immediately. Thangapandian S had previously held the position of CEO for Marketing and IST at Essar Oil Limited.
“During this time of transition into emerging markets and diversification of our business in the downstream and midstream sector, there is no-one more qualified to help drive organic growth and identify like-minded partners that will broaden our facilities, capabilities and services we offer customers” said Ashok Goel, Chairman of the Board at Gulf Petrochem. “Thangapandian joins our family-owned business with the same values that puts a priority on people and his vision for a modern, innovative and globalized oil company is what will keep Gulf Petrochem at the forefront of its industry.”
Joining Gulf Petrochem, Thangapandian S will be driving the company’s growth into new territories that includes Far East, East Africa and consolidation in the Gulf and Indian subcontinent. The growth will come from mergers and acquisitions and organic growth, especially in the local UAE and Indian markets where Gulf Petrochem has a leading position.
“Gulf Petrochem has grown exponentially since 1993 when Ashok and Sudhir (Goyel) began trading petrochemical products in India. Today it is a 2 billion dollar business with two refineries in the UAE, a terminal in Fujairah and presence in six other markets. With a remit to continue its growth strategy at the same rate, the opportunity to help develop an already brilliant and unique business was an opportunity I had to seize.”
