Rahbord Energy: On the sidelines of Khark’s 2023 fiscal year general assembly, Abbas Karimi, CEO of Khark Petrochemicals, said that the company had 5% production growth and 3% sales growth in FY1 2023-2024 compared to FY 2022-2023.
Karimi thanked the efforts of the former CEOs of the company and said the rate of stopping the production of Khark Petrochemical last year was very low, and it was one of the factors that allowed the company to have good production.
In response to the question as to why it was decided to choose synthetic ethanol and acetic acid among the methanol value chain projects, the CEO of Khark Petrochemical said that the company examined all the methanol value chain projects in terms of profit efficiency and profitability and finally came to this conclusion. Currently, in terms of profitability, synthetic ethanol has the highest return on investment and profit margin compared to other methanol value chains.
Regarding the financing of the synthetic ethanol project, Karimi added that, according to the initial estimate, a synthetic ethanol unit with a capacity of 300,000 tons per year needs an investment of 320 million euros, which will be financed both from the shareholders and from the bank loans.
He referred to the amount of distributed net profit of 610 tomans per share based on the approval of the assembly and added that the profit will be paid to real shareholders in less than a month and to legal shareholders at the time when the schedule is announced.
Karimi referred to activating the Khark Petrochemical market research unit more active and said the company already has a market research unit. According to Karimi, the unit has been strengthened so that the company can conquer new markets through the sale of our products. The result of strengthening the company’s market research unit in the last one or two months is that it has been able to export LPG to Africa. He said the unit is also working in the field of other products of the company, but the practical result is that it has started exporting LPG to Africa.
Source: KPC Department of Public Affairs
