The annual general meeting of Sabalan Petrochemical Co. was held on November 8, 2021. The meeting was directed by Dr. Farhad Jahangiri, the vice president of the holding. Dr. Behrouz Abbasi, CEO of Sepehr Energy Co., and Mr. Mohammad Zali, CEO of Sabalan Petrochemical Co., also attended as the secretary of the meeting.
Mr. Mohammad Zali expressed his gratitude toward the shareholders for their supports and Dr. Abbasi, Dr. Jahangiri, and the personnel of Sabalan Petrochemical Co. for their hard-working. He stated: “Fortunately, despite the difficult conditions due to sanctions, we were able to finish the construction of the Sabalan project, and due to God’s blessings and the hard work of the personnel, the company started working on May 2021.
He added: “We achieved this success while we were facing countless challenges due to international sanctions. We were facing difficulties, including lack of access to financial facilities for transferring the required funds, having no access to the purchased equipment, and the possibility of the order’s cancellation for equipment according to the sanctions. However, by the hard works of our colleagues around the clock, we were able to receive the funds and provide every required equipment. We are proud to announce that in addition to the required equipment of the Saban project, we were also able to provide 94 percent of the required equipment for Dena petrochemical plant.”
CEO of Sabalan Co. mentioned the utility prices of Damavand Energy Assaluyeh and said: “The costs of Damavand Energy Assaluyeh utilities are significantly high. They are more than 3-times higher than the prices of Fajr Co. and almost more than twice the costs of Mobin Co. Also, unfortunately, the contracts for green tanks and utilities are unfair. National petrochemical company and shareholders must support us to modify the contracts to protect the interests of Sabalan Petrochemical Co.”
He also added: “Now that more oxygen is produced, we hope to receive higher amounts of oxygen to compensate for the reduction in our productions. Because it would be the only option to recover the imposed costs,”
He also clarified about the condition of oxygen supply to Sabalan Petrochemical Co.: “Damavand Energy Assaluyeh announced November 1 as the delivery date of oxygen supply, but first, they postponed the delivery to November 6, and now they have adjourned it to November 9. However, we hope to receive the shipment in the following days to start the production at full capacity. Yet, as you know, due to the lack of sufficient steam in the region, we don’t have the required steam and have to wait for steam generation by Marjan Petrochemical Co.”
He added: “Fortunately, we can ignite the flare today, on November 8. Also, 2001 and 2002 compressor units are ready to function, and as soon as we receive the required steam, we will start our operations. In other words, as soon as we receive the required oxygen and steam, we can start in 5 or 6 days.”
Mr. Zali expressed: “According to the agreement with Damavand Energy Assaluyeh, they are going to provide the required oxygen till this weekend, and if they fulfill their promise, we can start production by the end of the following week, on November 22.”
In the end, he stated: “As I mentioned before, we have been ready for operation from May. By the grace of God, supports of boards of directors, and the hard works of personnel, we would start operations on November 22. In the end, I express my gratitude toward the shareholders, Dr. Abbasi, Dr. Jahangiri, Mrs. Shahedaie, Sepehr Energy Holding, Petrofarhang Holding, and all of my colleagues who worked around the clock so now, we can be ready for production. I hope to see the inauguration of Dena and Siraf Petrochemical plants soon, so Sepehr Energy Holding can reach its proper place, to determine the global price of methanol.”