Rishad MoloobhoyPublished on
Rishad Moloobhoy is the third generation of a 110-year business family operating on three continents. The Richmond Group is an international conglomerate of manufacturing and trading companies with offices in Australia,China,India,Singapore,Oman,Qatar and the UAE.
Moloobhoy has over 40 years of experience managing the family’s varied activities, giving him an impressive global outlook.
Pioneers for a century
The Group has been a pioneer in the steel industry for more than 100 years. Its operations in steel trading and processing range from manufacture for the automotive industry to ship breaking. It also trades in commodities for steel making such as limestone, iron ore and cocking coal.
On the petroleum industry, the Richmond Group runs terminals for storage and distribution of bitumen in bulk in India, UAE and Oman to complement its bitumen sourcing, shipping, logistics and retail delivery operations. It also trades in crude oil and fuel oil. Its shipping arm operates bitumen tankers and charters vessels for shipment of dry bulk cargos.
Proud record of innovation
Moloobhoy runs a Group that is one of the largest bitumen sourcing, shipping and distribution companies spanning from Africa to Australia. It has a proud record of innovation, such as:pioneering the supply of Middle East bulk bitumen to China, Korea and India in 1998; supplying International organisations in challenging environments including U.S. Aid and World Bank Projects in Afghanistan in 2003-06; and processing Eurasian crude oil with complex cross-border delivery for petroleum products.
The family has supported multiple social projects in India and driven a campaign to restore property rights to an organisation that provides shelters for pilgrims in Iraq.
Following the fall of Saddam, the family worked under the AFP Trust (Anjuma Faiz-e-Panjetani) to reclaim community-owned lands and have since begun construction of community Musafirkhanas (resting places for pilgrims who visit Iraq).
AFP was formed in 1912 but its shelters were confiscated by the Iraqi government and its activities closed down in 1968. After the overthrow of Saddam in 2004 a government enquiry was set up to investigate land rights and after ten years of hard work by AFP and the Moloobhoy family, all the Musafirkhanas located in Kazmain, Najaf and Karbala have been returned to AFP and registered in its name in the land records.