Gulf Petrochem Appoints ex-Indian Oil Chairman to the Board

Thursday, December 4th, 2014

UAE: Thursday, December 4, 2014: Gulf Petrochem, today announced that its Board of Directors has appointed Brij Mohan Bansal as Strategic Advisor for the group and member of the Board of Directors effective immediately.

Prior to being appointed to the board at Gulf Petrochem Group, he held a number of executive board positions most notable as Chairman & Director of Planning & Business Development at Indian Oil Corporation Ltd. and as CEO of Kenya Petroleum Refineries Ltd..

With over 40 year's experience in the energy sector, Bansal has overseen and assumed strategic responsibility for the growth of Indian Oil Ltd and Kenya Petroleum Refineries Ltd, through diversification to petrochemicals, gas and LNG targeted acquisitions as well as identifying and initiating foreign and domestic strategic partners.

“BM Bansal brings with him unrivalled experience as witnessed by his accomplishments at Indian Oil Corporation Ltd. His appointment is a strategic complement to our board, ensuring our diversification and expansion plans into emerging markets which will help the group realise our long-term objectives” said Mr. Sudhir Goyel, Gulf Petrochem - Managing Director.

Bansal will oversee Gulf Petrochem Group's strategic expansion plans especially within the mergers and acquisitions space as well as managing the process of integration and diversification. As an IMD Certified Project Director bestowed from the International Projects Management Association, Bansal will lead the group's project formulation, implementation and operations ensuring that quality, safety and cost efficiencies are maximised.

 “I have witnessed the group's exponential growth over the years, and when the opportunity arose to join its board and develop the $2bn business further, it was something that I was honoured to take. With refining facilities in the UAE and Tanzania, storage terminals in Fujairah and Hamriyah Freezone in the UAE, another in progress in Pipavav, India and presence in six other markets, the group is well positioned to continue itshigh growth rate. We will continue to position Gulf Petrochem Group as the global conglomerate it truly is.” said BM Bansal, Strategic Advisor and Board Member.

He joins Ashok Goel, Chariman, Sudhir Goyel, Managing Director, Thangapandian S, Executive Chairman and Group Directors Manan Goel and Prerit Goel on the Gulf Petrochem Board.