According to Petrofarhang's public relations office,
Zarepour recently visited eight subsidiaries in Bushehr province, where he
reviewed project advancements, engaged with executives, and emphasized
sustainable wealth creation for educators, along with plans to enter downstream
petrochemical industries.
During a site visit to Sabalan Petrochemical, where he met
with CEO Reza Karimi and senior staff, Zarepour highlighted the company’s 200%
growth in operational profit for fiscal year 2023-2024. He underscored
Petrofarhang's overarching goal of creating long-term wealth for the Cultural
Reserve Fund members, with diverse product lines and sustained profitability
high on the agenda for the next fiscal year.
Zarepour noted that, through a shift in operational
strategies and the concerted efforts of managers and employees, four out of
five subsidiaries that had reported operational losses have now returned to
profitability. “We anticipate a record-breaking year ahead for Petrofarhang,”
he said.
Following a two-hour field inspection of Sabalan Phase 2
(Dena Project), Zarepour affirmed that daily monitoring of project progress has
been implemented. "The integration of the Dena Project into Sabalan
Petrochemical stands as one of the most strategic moves in recent years,
activating all operational fronts."
Petrofarhang has also received preliminary approvals to
enter downstream sectors, with one major project soon to launch. This
development aims to convert methanol from Sabalan and Kimia companies into
high-value products, enhancing Iran's foreign exchange earnings.
Operational Gains at Kimia and Marjan
At Kimia Pars Middle East Petrochemical, Zarepour addressed
production challenges due to seasonal gas cuts and announced plans for a
concurrent overhaul. “With capacity exceeding 100%, Kimia can contribute
significantly to national foreign exchange,” he said.
Meanwhile, operational profit at Marjan Petrochemical surged
83% in the first half of 2024, attributed to improved production and marketing
processes, as well as cost optimization strategies.
Siiraf Energy Project Progresses Amid Financial
Extensions
During a visit to Siiraf Energy in Dayyer, Zarepour observed
a project now revitalized after overcoming historical financial and operational
setbacks. “With a recent 18-month extension on the project's credit line, we
are advancing steadily towards completion,” he said.
Lavvan Chemical Project to Break Ground
Projects at Lavvan Chemical will commence soon, transforming
methanol from Petrofarhang companies into acetic acid, vinyl acetate monomer,
and synthetic ethanol. This aims to insulate the holding from international
market fluctuations, providing long-term financial security.
Outlook for a Record-Breaking Year
With an expanding portfolio, Petrofarhang is poised to
become one of Iran’s most diverse petrochemical holdings, with new projects
positioned to meet both national and international market demands. Zarepour
emphasized a growth-focused management approach, citing record operational
milestones in 2024 that set the stage for an even more robust financial
performance in the coming year.