The meeting of the Board of Directors of Petrofarhang Holding and its subsidiaries was held on Tuesday, Mehr 15, 1404, with the presence of Dr. Ali Sadeghi, CEO of the Farhangian Reserve Fund Institute, Javad Zarepour, CEO of Petrofarhang, CEOs of subsidiaries, and senior managers of the holding, coinciding with the beginning of the 1404-1405 fiscal year.
The CEO of Petrofarhang Holding said in this meeting: With the unwavering support of the CEO of the Farhangian Reserve Fund and his realistic policy-making, fortunately, this holding became profitable for the second consecutive year. This achievement was achieved in a situation where the two petrochemical plants, Sabalan 1 and Kimiya Pars Middle East, were facing gas outages for about 4 months due to the imbalances in the country, resulting in a halt in production. Also, the trend of stopping production during the 12-day imposed war was prevalent, but despite all these interpretations, with the efforts of the noble managers and workers of the production companies, there was no particular deviation in the plans and fortunately, Petrofarhang’s profitability trend reached the second consecutive year.
Referring to the realization of more than 100% of the budget in the fiscal year 1403-1404, Zarepour stated: The record sales of about 1.8 million tons of methanol in Seko Company and also the profitability in Morvarid and Khorasan Petrochemical Companies caused the progress of Phase 2 of Sabalan Petrochemical to accelerate so that we will witness the launch of this phase in the current solar year, so that Petrofarhang will be recognized as the largest methanol producer in the country with a production capacity of 4 million and 950 thousand tons of products, and after the completion of Siraf Energy Petrochemical, this potential will reach 6 million and 600 thousand tons.
He added: “As the energy imbalance in the country increases, the plan to develop the power plants of Mafna Company has been put on the agenda as one of the priorities set by the Farhangian Reserve Fund. In this regard, the implementation of the construction of two new solar power plants, Mahan 1 and 2, in Kerman province will begin soon, and at the same time, preparations for the construction of another gas power plant are being pursued.”
Zarepour continued, referring to the importance of financing in advancing the holding’s programs, and said: “In the last fiscal year, about 8 trillion tomans of financing was attracted for subsidiary companies, and this trend will be on the agenda to a greater extent in the current fiscal year so that the downstream projects defined in the holding do not face interruptions. Also, the contract for the development of the Gardan and Pazan gas fields with Bakhtar Holding, as Petrofarhang’s first step in the upstream area, will soon be implemented.”
In conclusion, the CEO emphasized the completion of smart governance systems by next month and said: According to the instructions of the Farhangian Reserve Fund, for the first time in the institution, a comprehensive trading system was launched by Petrofarhang in the past few days, and the integrated human resources system is now ready for operation, and the financial dashboard system will also be completed within the next month so that management and decision-making processes become more transparent and systematic than ever before.
In the continuation of this meeting, the CEOs of the subsidiary companies and senior managers of Petrofarhang also presented reports on their areas of activity.