The annual general assembly of Tabriz Petrochemical Company for the fiscal year ending in Esfand 1403 (March 2025) was held on July 12 with the presence of the majority of shareholders and their representatives.
In the general annual assembly, which was chaired by Ebrahim Sadeghi, representative of Parsian Oil and Gas Development Group (POGDC), and attended by major shareholders, including Seyyed Reza Seyyedrahmani, CEO of Tabriz Oil Refining Company, and members of the Board of Directors of Tabriz Petrochemical Company, the outstanding performance of the complex last year and its development prospects in the coming years were reviewed.
At the beginning of the meeting, Seyed Noorallah Mirashrafi, CEO and Vice Chairman of the Board of Directors, presented a detailed report on the performance of the Board of Directors. He outlined the company’s achievements, challenges, and future plans. He listed sustainable feedstock supply and its high transportation costs as the company’s most important concerns, and mentioned the acquisition of the Western Ethylene Pipeline from Miandoab to Tabriz as a strategic necessity.
Tabriz Petrochemical Company Breaks Historic Record in Profitability and Exports; Highest Net Profit in Company’s History
Tabriz Petrochemical Company experienced significant growth in operational and financial indicators in 2024-2025. The company’s production of saleable products increased by 5% compared to 2023, while the export of products also increased by 9% in terms of weight and 15% in terms of currency. This improvement, along with a 40% increase in domestic sales value and a 50% increase in export sales value, led to a 42% increase in the company’s total sales value.
Most importantly, the company’s net profit in 2023 increased more than threefold compared to 2022, setting an unprecedented record in the history of Tabriz Petrochemical’s activity. This unprecedented leap in profitability was the result of a combination of improved sales, cost management, increased operational efficiency, and benefiting from tax incentives. This remarkable success led to the distribution of 40 percent of the net profit to shareholders at the General Assembly; a decision that was welcomed and satisfied by shareholders and is a clear sign of the company’s financial stability and growth capacity in the near future.
In other areas, Tabriz Petrochemical Company also achieved significant achievements. In the energy sector, with corrective measures in processes and equipment, the energy consumption index decreased by 23 percent and water consumption by 18 percent in February 2025. Financially, despite the 47 percent increase in the price of raw materials and feedstock, the company was able to manage financial pressures by controlling unacceptable costs, using research and development tax incentives, and successfully settling tax cases. In the technical and engineering field, the production of new colored ABS, the design and production of the new C5+ product, and the manufacture of 1,879 industrial parts with the aim of increasing self-sufficiency and reducing production stops were among the key measures that further improved the company’s technical position.
Progress of projects and a new development horizon
During the meeting, shareholders raised questions about important projects such as the heavy polyethylene project and the ethylbenzene and styrene monomer project, which were accompanied by professional and reassuring answers from the company’s managers. According to the report presented, the heavy polyethylene project with a capacity of 310 thousand tons is in the final stages of construction and its full implementation will play an important role in increasing the capacity and diversity of the product portfolio.
Investment, Stock Exchange and Innovation in Production
Other highlights of the meeting include the announcement of the finalization of the company’s stock listing on the Stock Exchange. Reports were also presented of receiving production licenses for new products such as polypropylene, C5+ and new colored ABS grades, which indicate efforts to innovate, reduce imports and respond to market needs. The CEO of Tabriz Oil Refining Company, Seyed Rahmani, also announced in this meeting the company’s efforts to invest in the EBSM project of Tabriz Petrochemical Company due to its appropriate profitability.
Brilliant Performance, High Expectations
While praising the performance of the company and the current management, the shareholders emphasized the need to continue the profitability trend, accelerate the implementation of development projects, and optimally manage financial risks. They considered the increase in net profit, product diversification, and stabilization of export markets as achievements worthy of appreciation and called for the continuation of this trend in the coming years. Tabriz Petrochemical Company, by utilizing its domestic capacities, smart management, and strategic vision, has introduced itself as one of the pioneers of the country’s petrochemical industry on the path of sustainable development and has taken important steps to enter the arena of international competition.
