Prince of Polyester who gave £2million to Tories has business links with Russia

A tycoon who donated £2million to the Tories has links to Russia.

Amit Lohia, who is nicknamed the “Prince of Polyester”, has business interests that include a Russian textiles plant and one of Asia’s largest petrochemical producers.

Green Party deputy leader Zack Polanski blasted: “It’s shameful that the party of government has been taking donations from a Russian-linked petrochemicals executive, 18 months after Vladimir Putin ’s invasion of Ukraine ”.

Indian-born Mr Lohia, 48, is vice chairman of Indorama Corporation, which was founded by his billionaire father, and a non-executive director at Indorama Ventures.

The firm is a majority shareholder of global hygiene fabrics firm Avgol, which has a production line in the Tula Oblast region, 120 miles south of Moscow, says climate investigations website DeSmog.

There is no suggestion of wrongdoing by Mr Lohia or Avgol but the Prime Minister has accused opponents of new North Sea oil and gas licences of supporting “Russian jobs”. Mr Lohia’s donation to the Tories’ election war chest, registered in March, was the second largest this year, according to the Electoral Commission.

It followed a £5million injection into Conservative coffers in January from another tycoon exposed for business dealings with Russia. Billionaire Mohamed Mansour, who served in the government of late ­Egyptian dictator Hosni Mubarak, became senior treasurer of the Tory party in 2022.

We reported in January that he co-owned UK-based Unatrac and a subsidiary supplying machinery to Russia’s oil and gas industry. In May it was reported the company was suspending its business activities there. Last year there was an exodus of foreign companies from Russia after the invasion of Ukraine.

Rose Zussman, of anti-corruption group Transparency International UK, said: “This raises legitimate questions about the relationship between money and influence in British politics, which are all the more alarming when major party donors include those with business links to Russia”.

A spokesman for Mr Lohia said: “Amit Lohia is a non-executive director of Indorama Ventures Ltd and made the donation in a personal capacity. “Avgol Russia makes materials used in babies’ nappies and feminine hygiene products. It represents less than 0.19% of Indorama Venture’s operations.” Avgol, Indorama Ventures and the Tories have been contacted for comment.

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