The CEO and board members of the Teachers’ Reserve Fund Institute visited the subsidiary companies and projects of the institute in Asaluyeh. During a one-day visit, Ali Sadeghi and the board of directors of the Teachers’ Reserve Fund Institute, accompanied by the CEOs of Petrofarhang and Sepehr Energy holdings, visited Sabalan 2, Kimiaye Pars Middle East, Lavan Chemical, and Sepehr Lavan Petrochemical Qotb companies, closely examining and monitoring their issues and matters. During these visits, Ali Sadeghi, the CEO of the Teachers’ Reserve Fund, emphasized the acceleration of the executive operations of Sabalan 2 and principled and targeted planning to increase and sustain production in Kimiaye Pars Middle East and Sabalan 1 petrochemical companies.
Sabalan 2 Petrochemical will become operational in the near future
During the field visit, the CEO and board members of the Teachers’ Reserve Fund, along with the CEOs of Petrofarhang, Sepehr Energy, and the head of the Energy Commission of the Islamic Consultative Assembly, visited the Sabalan Petrochemical Site 2 project. In the meeting to review the latest status of the Sabalan 2 project, the CEO of the Teachers’ Reserve Fund emphasized the social responsibility of the projects affiliated with the fund, announcing plans to increase the employment share of local indigenous forces and teachers’ families, and said: “Systematizing the employment of the required forces of subsidiary companies with priority given to local hiring and teachers’ families is on the agenda as a priority, and considering the coordination made with the National Organization of Educational Testing, in Bahman, the required forces for Sabalan 2 petrochemical will be recruited through an exam with a local hiring and teachers’ families priority approach.” Stating that Sabalan 2 is one of the most Iranian-made methanol producers in the country, he emphasized: “Fortunately, maximum use of domestic capabilities has been made in this project, and we hope that this trend of utilizing Iranian companies and relying on domestically manufactured parts and equipment will seriously continue, because in the current situation, supporting national production is a principle.” Pointing to the importance of reforming the gas tariff, Sadeghi stated: “Our request from the Energy Commission of the Islamic Consultative Assembly is to seriously follow up on reforming the feed gas tariff at the national level, and this is a key issue for the important industries of the country, especially the petrochemical industry, which, if unresolved, can have disastrous consequences for the country’s production and economy.” Continuing, the CEO of the Teachers’ Reserve Fund referred to the development of downstream methanol projects and added: “We emphasize the maximum use of local companies and contractors in the construction and development of sites, and this approach has also been taken into account in the Sabalan project so far and has brought positive results.” Sadeghi emphasized: “Fortunately, the completion process of the project is progressing well, and God willing, the Sabalan Petrochemical Site 2 project will be operational in the near future. With the inauguration of this project, Sabalan Petrochemical will become the largest methanol producer in the country, and considering the current growing trend, a bright prospect has been drawn for the development of production, creation of value-added, and sustainable employment in the region.”
Sustainable production with maximum capacity must be on the agenda
The second destination of the senior managers of the fund was Kimia Pars Middle East Petrochemical, which included a field visit to the company and then holding an expert meeting. In this meeting, Sheikh Musa Ahmadi, the representative of the people of southern Bushehr province in the Islamic Consultative Assembly, appreciating the presence of the senior managers of the fund in the region, stated: “Your presence boosts the morale of the employees, and the reality is that the assessments of the activities carried out by the Teachers’ Reserve Fund over the past year in various sectors are satisfactory.” In this meeting, referring to the actions taken at Kimiaye Pars Petrochemical, Ali Sadeghi, CEO of the Teachers’ Reserve Fund, said: “Reforming corrupt processes has been a serious concern on the agenda, and in this regard, the transaction and resource transparency system has been launched so that any buying and selling in the Petrofarhang group must be done through a transparent and systematic process.” He noted: “The transactions directive has been communicated to all subsidiaries, which are all obliged to comply with it so that while developing transparency, organizational justice in utilizing the capabilities of Iranian producers becomes possible. These approaches are intended so that we use all our power to preserve and protect the capital of teachers.”
The development of downstream industries is one of the priorities of Petrofarhang
In their third work trip program, the board of directors of the Teachers’ Reserve Fund held an expert meeting with the CEO of Lavan Chemical Company. In this meeting, Sadeghi, the CEO of the institute, said: “The development of downstream industries of the petrochemical industry with the aim of diversifying the portfolio and also reducing investment risk is one of the working priorities of Petrofarhang. In this regard, 3 petrochemical companies will be built to produce about 8 new products with much higher value-added, and the methanol produced in Sabalan and Kimia petrochemicals will be used as feedstock for these units.” He added: “Three products manufactured in Lavan Chemical Company will be sold at a price approximately 5 to 8 times higher in the global and domestic markets. Therefore, there is a special dedication to its construction, and its financing must be pursued seriously.”
Sepehr Four-Star Hotel will be operational by the year 1406
The last destination of the CEO and board of directors of the institute was Sepehr Lavan Petrochemical Hub Company and a visit to the executive operations of the 4-star Sepehr Hotel, which was carried out accompanied by the CEOs of Petrofarhang and Sepehr Energy. During the field visit to this project, Sadeghi said: “Fortunately, after an 8-year halt in the executive operations of this hotel, since last autumn, with a change in approach based on maximum use of internal organizational resources, this project has restarted and has now reached about 40% cumulative progress.” He further stated: “This hotel will be operational in the year 1406 and will include all welfare, accommodation, and cultural services, and while meeting the needs of the companies located in Asaluyeh, it will provide special services to the noble people of Shirino city.” Also, in the future phase of this project, multi-purpose sports and cultural halls will be built so that one of the largest service companies in the region is established under the guidance of the Teachers’ Reserve Fund and Petrofarhang, creating the grounds for sustainable wealth creation.
The expert view of the Fund’s board of directors to overcome problems
During these visits, Masoud Shokouhi, Chairman of the Board of Directors of the Teachers’ Reserve Fund, also called for serious attention from the petrochemical companies affiliated with the fund to enter new markets for selling products. Shamseddin Nikmanesh, Vice Chairman of the Board of Directors of the Teachers’ Reserve Fund, also said: “Completing the methanol value chain should be the main priority of Petrofarhang, and in this regard, no negligence is acceptable. The reality is that we need to review the macro policies of Petrofarhang, and there is no better way than moving towards downstream, because under the current circumstances and considering the global price of methanol, being content with increasing the share of methanol production without paying attention to the downstream is not economically viable.” Mohammad Amin Zarei, another member of the board of directors of the Teachers’ Reserve Fund, considered developed human resources as the most important factor in increasing productivity in organizations and emphasized: “Organizing human resources with the aim of motivating employees and increasing organizational productivity should be placed in the work priority of the fund’s subsidiary companies.”
