At the annual general meeting, the financial statements of Iranian Petrochemical Investment Company for the year ending 02/31/1400 and the report of the board of directors were reviewed and approved by the meeting. answered.
180% capital increase
3% increase in capital of Iranian Investment Petrochemical Group from other reserves by increasing the capital from 2 billion Tomans to 350 billion Tomans from the capital reserve and agreeing to implement it for 4 years was delegated to the Board Until the board of directors of the company, after obtaining permission from the organization, takes action to implement it.
Major petroleum activity
Last year, Petrol managed activities such as employing young and elite forces, launching and inaugurating three large national projects with a capacity of 2590 million tons, implementing six new complementary development projects with a capacity of 256 thousand tons and investing 364 million euros, completing the value chain. Preventing the sale of raw materials, creating sustainable employment, producing new products and developing less developed areas, defining and approving 5 downstream industrial parks with a capacity of 381 thousand tons and a total investment of 10.460 billion Tomans with the participation of the private sector, employing more than 92% of local employees in subsidiaries. Creating financial transparency by conducting management controls and internal audits, formulating a roadmap and strategy for the five-year development of the company, increasing capital for the company, planning to build 5 downstream parks in its portfolio.
The three main policies of oil
"Petroleum focuses on three main areas, which are the development of new projects, the purchase and monitoring of shares, the development of existing companies that have potential, and the completion of the company's wealth production chain," said Karim Broufred, Petroleum's Vice President for Finance and Investment. Upstream.
Ilam comes to the stock market
He added: "One of the good events of last year was the transfer of Modbaran, the listing of Urmia Petrochemical on the stock exchange and the acceptance of Ilam Petrochemical Company in the OTC market."
Broofred continued: Ilam Petrochemical will enter the capital market by the end of this year.
Petroleum measures
Regarding the actions of Petrol, Broofred said: in the field of profitability and financial performance, return on assets and property rights, return on company shares, increase of investment income, in the field of finance and investment, reform of capital structure and reduction of financial structure risk, debt settlement And foreign exchange risk management, Rial financing and foreign exchange capital increase, in the field of internal process, official opening of production companies, implementation of petroleum projects, 6 new development projects, value chain completion, support of domestic production, promotion of safety and health and in the field The growth and learning of job classification and the employment of specialized personnel, as well as the improvement of the level of internal controls by strengthening the internal audit system and increasing the level of financial controls in subsidiaries have been the actions of Petrol in the last fiscal year.
Progress of designs
Regarding the progress of ongoing petroleum projects, Broufred said: "So far, Lordegan melamine crystal project with a capacity of 30,000 tons per year, 35% physical progress, Persian Gulf Petrochemical oyster project with a capacity of 136,000 tons, 52.84% physical progress of purple polypropylene project with a wide capacity 150,000 tons per year 60.1% physical progress; Methylamine amine project with a capacity of 22.6 thousand tons per year 10.39% physical progress, Mahshahr Park profit plan with a capacity of 45,000 tons per year has 3% physical progress
Return on 59% of shares
The Deputy Minister of Finance and Investment of Petrol stated: The return of Petroleum shares from the beginning of the fiscal year until August 1, 1400, was 59%.
The company's net profit has grown 5 times compared to the previous year, and consolidated revenues have grown 1.5 times and consolidated profits have grown more than 5 times.
Last year, Petrol was able to add 2.6 million tons to the capacity of the country's petrochemical products.
The most important achievements
He stated: "One of the most important achievements of Petroleum has been preventing the sale of raw materials and importing products with high economic justification and creating more and stable employment, etc." And the company will manage the development of capital in the capital market, reform the capital structure of subsidiaries, increase production capacity and ....
Issuance of license to increase oil capital
In this ceremony, with the presence of 78% of shareholders, it was held at the Persian Gulf Petrochemical site.
Also, Azmoun Pardaz Institute was appointed as the main auditor, Editing Institute and Associates as the alternate inspector, and Donya-e-Eqtesad newspaper as the widely circulated newspaper for inserting company advertisements.
