Leading Saudi Arabia-based serial entrepreneur Dr Ravi Pillai, who acquired the Leela, Kovalam property for Rs 500 crore in recent times, is now eyeing the petrochemicals sector to make his presence felt in the industrial landscape.
Dr Pillai is the founder Managing Director of Nasser S. Al Hajri Corporation (NSH), which is one of the largest construction contractors in the entire West Asia.
The NSH, which employs 60,000 people and is the largest employer of Indians in Saudi Arabia, boasts global players such as Exxon-Mobil, Chevron, Shell, Philips Conoco, Chiyoda, Daelim and RasGas on its client list.
Speaking to Business Line here, Dr Pillai said that he has been approached by a ‘petrochemical giant' in India for joint initiatives in the domestic petrochemical sector.
He refused to identify the company, citing the provisions of a non-disclosure agreement.
The contours of the new entity have been finalised, and efforts are on to find a location in Mumbai to set up an office.
Dr Pillai said he is now looking for key managerial personnel to look after the Indian operations.
There are large opportunities in the domestic market waiting to happen in the domestic industry.
This becomes all the more relevant in the context of US and European markets becoming centres of refining surplus and Asia-Pacific turning up itself as hub of capacity growth.
It has in turn triggered a substantial reshaping of ‘downstream oil' with a regional shift towards Asia unfolding.
Back home in Kerala, apart from the Leela property that he acquired, Dr Pillai has launched ‘The Raviz,' a greenfield project in the five-star category with seven-star facilities in neighbouring Kollam, his native place.
He is still on the lookout for ‘bargain properties' in the State with potential business prospects.