From empty pockets to a multimillion-dirham empire: The 51-Year journey of Al Furat’s visionary founder
Al Furat Group is a one-stop solution provider in the UAE for intelligent mobile storage solutions, cold rooms, polyurethane panels, and specialised vehicles.
The firm’s success and the induction of the third generation into the business offer valuable lessons for entrepreneurs looking to build generational wealth and lasting enterprises
Suneeti Ahuja-Kohli
IT was in the summer of 1974, when the 22-year-old Varughese Kallurumpil Chacko stood on the deck of a ship bound for the UAE. His pockets were empty, but his dreams were vast. That journey, which took five days from Mumbai in India to the newly opened Port Rashid in Dubai, UAE, was the first step in a remarkable career that would shape an industry and build a business empire. Today, as the founder and Group Chairman of Al Furat, one of the leading cold chain solution providers in the UAE, Varughese reflects on his half-century-long journey with a characteristic blend of nostalgia, humour, and humility.
The Humble Beginnings Coming from a middle-class family in Kerala, India, Varughese did not land in the UAE with a grand plan to start a business. He was brought over by his sister and brother-in-law, who hoped to help him find a stable job. Within two weeks of arrival, he secured a position at Technical Supplies and Services Company for a modest salary of Dh600 per month. It was here that he unknowingly laid the foundation for his future, learning the intricacies of refrigeration and panel-making.
“For 14 to 15 years, I worked there. I left a few times, but somehow, I kept getting pulled back. Now, I understand that it was God’s plan to teach me everything I needed to know,” Varughese says, laughing. By the late 1980s, the thought of starting his own business began to take shape. Encouraged by a Pakistani workmate, he applied for a business license and secured a small two-shutter shop, naming it Al Furat — a name suggested to him by a stranger at the Chamber of Commerce, without him even knowing its meaning at the time. Later, he learned that Al Furat refers to the Euphrates River, a historically important river in the western Asia, flowing in Iraq, Syria, and Turkiye. It led many to assume he was an Iraqi. “I joke that I’m half Iraqi now,” he says.
The Relentless Entrepreneur Leaving the security of a stable job in 1989 to focus on Al Furat full-time was a gamble, and the initial years were filled with struggles. There were times when he doubted the future of the business, facing cash flow challenges, long credit cycles, and the constant need to reinvest profits. However, his resilience, belief in his work and above all, a firm faith in the Creator kept him going.
“The biggest challenge was funds. Clients would give us post-dated cheques
We’re not just making cold rooms or refrigerated trucks. We provide end-to-end cold chain solutions. That’s what sets us apart.”
Varughese Kallurumpil Chacko, Founder and Group Chairman, Al Furat Group of Companies
for four or five months, but how could I run a business in the meantime? I never took a loan, never borrowed from banks. If I had money, I would do something. If not, I stayed quiet,” he recalls. Slowly but surely, the business grew. In 1994, Al Furat expanded from a small shop to a 25,000-square-foot warehouse. By 2000, the company had moved into a 40,000-square-foot facility in Sharjah. The expansion continued with new factories and service centres, culminating in their current 400,000-square-foot state-of-theart manufacturing plant in Umm Al Quwain — the largest in the UAE for their sector.
A Family Legacy
While Al Furat began as a one-man operation, today it is a family-run enterprise, with Varughese’s daughter and sonin-law playing key roles in the company’s leadership. With the third generation preparing to step in, the family is actively shaping the company’s future while preserving its founding values.
His younger son-in-law, Pribu John, who joined the company in 2001 and now works as a Group Director, acknowledges the open-minded approach of his father-in-law. “He allows us to try new things, but if he feels something is going off track, he steps in and guides us.” He is
the best mentor that I can ever get. He insisted that we deal with our customers with a clear consciousness and never rip anyone off their goodness.
His daughter, Teeja P. J., Group CFO, echoes the sentiment, recalling how she was exposed to the business from an early age. “During summer breaks, I have worked as a receptionist at the office, slowly learned accounts and operations too. I observed my father interacting with staff, suppliers, and customers. That experience shaped my understanding of leadership and responsibility.”
During summer breaks, I have worked as a receptionist at the office, slowly learned accounts and operations too. This way I got to observe my father interact with the staff, suppliers, and customers. That experience shaped my understanding of leadership and responsibility."
Teeja P.J. Group Chief Financial Officer, Al Furat Group of Companies
setting industry standards. Today, the company is at the forefront of sustainable solutions, experimenting with solar-powered refrigeration units and lightweight honeycomb panels for electric vehicles. With a 65 per cent market share in UAE’s transportation sector for cold chain solutions, Al Furat continues to lead. “We’re not just making cold rooms or refrigerated trucks. We provide end-to-end cold chain solutions. That’s what sets us apart,” Varughese explains.
Looking Ahead
Despite the ever-growing scale of operations, Varughese remains grounded. When asked about international expansion, he shrugs it off. “I want to see everything with my own eyes. Why take on unnecessary headaches? We have plenty of work in the UAE.”
Staying Ahead of the Curve Innovation has been central to Al Furat’s success. It was the first Indian-owned company in the UAE to manufacture polyurethane panels for cold storage in 2001,
A Work Ethic Like No Other Varughese is not one to sit back and delegate from a distance. His presence at the factory remains a daily ritual, even on holidays. “I regret not taking care of my health during my youth. I worked 36 hours straight many times. Until 2005-06, I was on the shop floor every day,” he says. His dedication extends to ensuring product quality and customer satisfaction. Al Furat was the first company in its field to offer a five-year warranty on its products, a practice unheard of in the industry. “If our customer is dissatisfied, we fix it. If I promise to get something done by today, then I get it done the same day itself. That’s how we’ve retained customers for over 35 years.”
Yet, the company does export 20 per cent of its products internationally and is expanding locally with new manufacturing facilities dedicated to recovery vehicles and ammonia-based refrigeration solutions.
As for succession, Varughese is content letting the next generation carve their own path. “I’ve done my part. Now, it’s their turn to take Al Furat forward in their own way,” he says, adding that he is always there to guide them when needed.
The Legacy of a Visionary From a young man who arrived in the UAE with nothing to the founder of a multimillion-dirham enterprise employing over 200 people, Varughese KC’s journey is a testament to perseverance, integrity, and relentless hard work.
“If I could give one piece of advice to the young entrepreneurs, it would be this: Be faithful in business, never lie, and treat people well. Customers and employees will stay loyal if they trust you.”
In a rapidly evolving UAE, Al Furat stands as a beacon of what is possible with resilience, vision, and an unwavering commitment to quality. At its heart remains a man who, even after 51 years, still walks the factory floor every morning at 8:30, ensuring that every detail is just right. His work ethic and principles are key to the firm’s success and have built a business empire that is likely to continue operating successfully for generations to come. At a time when family businesses often fall apart by the third generation, Al Furat’s business principles and model serve as a valuable lesson for entrepreneurs looking to build generational wealth and lasting enterprises.
Pribu John, Group Director; Varughese Kallurumpil Chacko, Founder and Group Chairman; and Teeja PJ, Group CFO, Al Furat Group of Companies.