The Annual General Meeting of Siraf Energy Petrochemical Company for the fiscal year ending in Shahrivar 1404 was held on Aban 25 with the presence of 100% of shareholders, the independent auditor and the legal inspector.
At this meeting, which was officially held with the presence of the official representatives of the shareholders, the CEO and Vice Chairman of the Board of Directors of the company and other legal members of the meeting, Hasan Nozhat, CEO of Siraf Energy Petrochemical Company, first presented a comprehensive report on the company’s performance and achievements in the fiscal year ending in Shahrivar 1404.
According to the public relations report of Siraf Energy Petrochemical Company, Nozhat, referring to the significant progress in the project, stated: “In the past fiscal year, the company was able to take significant steps to advance the project by using resources optimally and managing effectively. “In addition to achieving budget goals, the physical progress of the project has exceeded expectations compared to the allocated budget, and the project has progressed more quickly and accurately than in previous years.”
He added: “Based on the assessments carried out, it is expected that by the end of the current fiscal year, more than 90 percent of the physical progress of the project will be achieved, which requires timely financing and continuous support from shareholders, especially in order to accelerate the decision-making processes.”
The CEO of Siraf Energy Petrochemical Company also noted: “Currently, all engineering activities of the project, procurement of remaining goods, and installation of key equipment in various units are underway. It is expected that if the required budget is met, the purchase of equipment will be completed by the end of this year and the project will approach its final stages.”
He also pointed out the process of reducing possible risks and said: “In order to address past challenges and facilitate implementation processes, extensive measures have been taken regarding financing the rial sector, releasing stored goods, and obtaining the necessary permits from the competent authorities. “These measures have not only accelerated the progress of the project but have also significantly helped reduce operational and financial risks. In this regard, the assistance of shareholders and the acceleration of the introduction of legal representatives to the board of directors are of particular importance.”
Nozhat continued by pointing out the outlook for the methanol market in the country, adding: “Given the significant growth of the methanol market and in order to optimally utilize existing capacities, the company is planning to enter downstream industries. This move will not only create more added value for shareholders, but will also help strengthen the company’s competitive position in domestic and international markets.”
At the end of the meeting, the company’s financial statements were approved by shareholders, and Iran Newspaper was selected as the company’s official newspaper for the current fiscal year.
As one of the important annual events of Siraf Energy Petrochemical Company, this forum emphasizes sustainable progress and detailed planning to achieve the company’s long-term goals in the petrochemical industry. Given the current positive trend, especially the progress beyond the allocated budget, and future strategic plans, the company’s outlook in the coming years looks bright and promising.
