On time... - Lloyd's List
On time... - Lloyd's List
On time... - Lloyd's List
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uS indiA<br />
Ahmed rahman<br />
rahman shares<br />
enterprising spirit<br />
Buhari Group heir has also<br />
founded his own business<br />
OF THE four sons of billionaire BS Abdur Rahman, founder of<br />
conglomerate Buhari Group, which has a turnover in excess<br />
of $5bn a year and employs over 60,000 people, Ahmed was<br />
always the son destined to run a shipping business.<br />
He has the qualifications, holding a masters in shipping,<br />
trading and finance from the City University business school<br />
in London.<br />
True to the entrepreneurial spirit of his father, he has not<br />
sat on his laurels as one of the directors of the huge Buhari<br />
Group, but in 1998 founded the Coal & Oil Company, aimed at<br />
investing and trading in the energy sector.<br />
His company bought a bulk carrier to improve the supply<br />
chain and has plans to buy more ships and become more<br />
closely involved in the shipping side of things to bring down<br />
the costs of importing thermal coal into India.<br />
An intriguing video clip on YouTube shows it is not all<br />
about business, though, as he is interviewed while cooking<br />
for his family. The next shots show him in his office, telling the<br />
interviewer the importance of creating an office decor that is<br />
relaxing yet stimulating, the colour cherry being particularly<br />
good at generating this ambience in what is a “home from<br />
home” for the staff.<br />
true to the entrepreneurial spirit<br />
of his father, he has not sat on<br />
his laurels as one of the directors<br />
of the huge Buhari group, but<br />
in 1998 founded the Coal & oil<br />
Company<br />
Such consideration and attention to detail, at home and<br />
work, is impressive for someone who must be inundated with<br />
demands on their <strong>time</strong>. But as the old adage goes, if you want<br />
something done, ask a busy man.<br />
Expect, then, the Coal & Oil Company to expand its<br />
presence in shipping and energy sooner rather than later<br />
– especially given that thermal coal generates around 70%<br />
of India’s power – with the charismatic Ahmed Rahman<br />
showing he has what it takes to be a future head of the Buhari<br />
Group, if he wants it.<br />
uS indiA<br />
Anshuman and rewant ruia<br />
Cousins on a<br />
mission at essar<br />
Anshuman and Rewant Ruia are hard<br />
at work within sprawling conglomerate<br />
INDIA’S rapid growth on the world stage as a consumer of<br />
commodities is second only to China’s, and Essar Group,<br />
with its sprawling tentacles wrapped around everything from<br />
shipping to oil services and telecoms, embodies the dynamism<br />
of the subcontinent as much as any conglomerate.<br />
Already holding the reins of power within the group are<br />
two young executives, Rewant Ruia and cousin Anshuman<br />
Ruia, both under 30, and are already making waves in the<br />
international business world.<br />
rewant and cousin anshuman<br />
ruia, both under 30, and are<br />
already making waves in the<br />
international business world<br />
Anshuman, 29, the son of Shashi Ruia the chairman of Essar<br />
Group, is on the board of the group’s directors and is head<br />
director of Essar Shipping, a company with 25 vessels, mostly<br />
bulkers and offshore units.<br />
He may be young in business terms but he’s already had 10<br />
years of working his way up in the family business, and has a<br />
degree in business – an indication that it hasn’t all been silver<br />
spoons and special treatment handed down from dad.<br />
Perhaps reflecting his relative youth, he’s been put in<br />
charge of Essar’s move into the renewable energy sector; an<br />
increasingly important sector for Asian companies as climate<br />
change tops global political agendas, not least because of the<br />
benefits of economic growth provided by the green economy.<br />
Newer to the group is cousin Rewant, son of vice-chairman<br />
Ravi Ruia and the same age as Anshuman. Also a director of the<br />
group, he oversees the steel, mineral and retail business and<br />
has responsibility for the group’s North America operations.<br />
That would make him pretty busy, but he’ll have <strong>time</strong> to see his<br />
cousin; Essar Shipping signed a 15-year contract in the fourth<br />
quarter last year with Essar Steel to transport iron ore along<br />
the India coast.<br />
As these two cousins work closely together on long-term dry<br />
bulk shipping contracts to meet India’s rapid economic growth<br />
– avoiding the volatile spot market – one wonders how long it<br />
will be before they improve on Essar Shipping’s recent strong<br />
performances and replace the two brothers at the head of the<br />
table in the group’s boardroom.<br />
ASiA<br />
next generation 2012 47
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