At the Extraordinary Ordinary General Assembly of Fanavaran Petrochemical Company, which was held on August 28, 2025, with the presence of representatives of major shareholders, company employees, and online shareholders from all over the country, Dr. Hossein Rafighdoost, CEO and Vice Chairman of the Board of Directors of the company, presented a comprehensive performance report for the fiscal year ending March 21, 2025. He also reviewed the financial, operational, export, and development indicators and referred to 1403 as a turning point in the history of the company.
Referring to the significant jump in the company’s profitability, Dr. Rafighdoost said in the fiscal year 2024-2025, Fanavaran Petrochemical was able to record a 50 percent growth in operating revenues, achieve a net profit of 984 percent more than the previous year, and increase its operating profit by 323 percent. He considered this achievement the result of scientific management, financial discipline, process optimization, and utilization of export market capacities.
The Vice Chairman of the Board of Directors of the company, referred to the production performance and said last year, Fanavaran succeeded in breaking production records by implementing process improvement plans and reducing downtime. Acetic acid production exceeded its nominal capacity by registering 153,008 tons and increased by 12 percent compared to 2023-2024. Carbon monoxide production also broke the historical record of this unit by registering 111,538 tons.
He further said that the total production of the company’s main products also reached 1,164,631 tons, which was a 2.5% increase compared to the previous year; and this was in a situation where the company was facing challenges such as restrictions on gas supply.
Referring to the company’s export achievements, the CEO of Fanavaran Petrochemical Company said in 2024, the company’s exports reached a record of $181 million, which was 10% more than the previous year. The export volume also increased by 4% to more than 614 thousand tons.
He also announced the increase in China’s market share to 85.2% in methanol exports and emphasized that the strategies of decentralization of traditional markets and the development of target markets in India, CIS countries and the Middle East have been successfully pursued.
Referring to the company’s export achievements, the CEO of Fanavaran Petrochemical Company said in 2024, the company’s exports reached a record of $181 million, which was 10% more than the previous year. The export volume also increased by 4% to more than 614 thousand tons. He also announced the increase in China’s market share to 85.2% in methanol exports and emphasized that the strategies of decentralization of traditional markets and the development of target markets in India, CIS countries and the Middle East have been successfully pursued.
He said in 2024, Fanavaran was able to save 9,094 billion rials (909 billion tomans) by implementing energy efficiency and consumption control projects. He noted that this achievement led to the company being awarded the title of “Best Energy Performance” among the companies of the Topico Group and receiving the “Silver Single Star” from the 9th National Energy Management Award.
Highlighting the importance of the company’s development and innovative projects, Rafiq Doost said in line with sustainable development and completing the value chain, key projects are under implementation. They include the CO2 recycling project with an investment of 32 million euros and a progress of 29.3%, which will prevent the emission of 160 thousand tons of carbon dioxide annually. Also, the hydrogen-fired boiler project has been fully developed and has reached operation and plays an important role in providing clean steam and reducing costs. He added that the Vinyl Acetate Monomer (VAM) project is also on track to produce 100 thousand tons per year after obtaining the necessary permits.
Referring to the company’s strategic approach in the field of localization and support for domestic production, he said 2017 to the end of 2024, 1,772 pieces were produced domestically by the company’s self-sufficiency committee, which resulted in foreign exchange savings equivalent to 17 million euros. He appreciated the efforts of domestic knowledge-based companies and emphasized that this path has increased the company’s resilience, reduced dependence, and effectively supported domestic industries.
Referring to the company’s investment portfolio, he said in addition to its successful operational performance, Fanavaran Petrochemical has a valuable and diverse investment portfolio worth over 23 trillion Tomans (23 hundred billion tomans), which constitutes a significant portion of the company’s assets. This portfolio includes strategic partnerships in active petrochemical companies, banks, etc., which play an effective role in strengthening financial stability and increasing added value for shareholders. He emphasized that the active management of this portfolio is pursued in line with the company’s macro policies of development and long-term wealth creation.
Hossein Rafiqdoost concluded by referring to the construction of a conservatory under the title of social responsibilities in a deprived area of Bandar Mahshahr city, and with the news of the operation of this school in the coming day. He expressed his gratitude to the shareholders, employees and managers of the company and said the performance of 2024 is the result of empathy, expertise, commitment and long-term planning at all organizational levels. He continue said Fanavaran Petrochemical, relying on solid infrastructure, development-oriented projects and a capable management team, is ready to enhance its position as one of the leading companies in the country’s petrochemical industry in the coming years and take great steps towards creating sustainable value for shareholders.
