In an annual general meeting held on January 19, 2025, the CEO, Ali
Yari, shared key achievements of Sepehr Energy Holding, including the
completion of strategic mergers, entry into downstream petrochemical industries,
an increase in capital to 60 trillion rials, and successful resumption of
projects after years of delay.
The holding recorded significant increases in production, sales, and
operational income, as well as a net profit of 1,600 billion rials for the first
time in the history of the holding.
Yari reported that Phase 1 of the Saveh Petrochemical Plant, with an
annual production capacity of 1.65 million tons of AA grade methanol, was
inaugurated in May 2021. Despite challenges in utility and feedstock supply, it
produced 2.7 million tons of product by the end of 2023.
The CEO further highlighted that the completion of the second phase of
Saveh Petrochemical and the Siraf Energy megaproject, set to produce 3.3
million tons of methanol, is underway in the coastal cities of Assaluyeh and
Bandar Dayer, and will generate over 1,500 jobs upon completion. These projects
are scheduled to start production in 2025 and 2026.
The merger of the Dena project into Saveh Petrochemical, Yari
emphasized, marked one of the most significant achievements of Sepehr Energy
Holding, creating numerous opportunities for financial growth and
restructuring. This merger enabled the company to navigate legal and financial
hurdles, secure funding, and strengthen its market position.
Sepehr Energy Holding is also focusing on expanding into downstream
industries and has launched the construction of facilities for producing acetic
acid, vinyl acetate monomer, and synthetic ethanol. Furthermore, it has made
substantial progress with the Siraf Energy Petrochemical Plant, which has
reached 65% completion.
In addition to petrochemical ventures, Sepehr Energy Holding has
invested in infrastructure projects, including the construction of a nine-story
hotel in the Bushehr province, with financing secured for the project through
the sale of services. The company also initiated studies for a cultural,
sports, and administrative complex to be built on 8.5 hectares of land.