The executive process assessment meeting of Dena and Siraf Energy projects was held

The executive process assessment and problem examination of Dena and Siraf Energy projects were carried out in separate meetings with the presence of Dr. Javad Zarepour, Petrofarhang Holding’s supervisor, and some other senior authorities of the holding.

Petrofarhang Holding’s supervisor declared in this meeting: “The plan compiled for the 2023-2024 fiscal year (August 2023 to August 2024) indicated that Dena and Siraf petrochemical projects will achieve 93 and 80% physical progress, respectively, with a IRR 120,000 billion through the cooperation of strategic partners, using the capacities of the national development fund, and agreements made with domestic and international investors.”

Emphasizing the imperativeness of supervision, control, and weekly assessment of the projects’ executive process, Dr. Javad Zarepour suggested: “The foundation for Holding’s assessment of the companies and executive plans has been approved and the incidents and problems from the past should cause no interference in the plans and decisions”.

Insisting that there is no justification to spend billions of current expenditure on companies with no physical progress, he added: “The manager must activate the project in various fronts through financing and principled planning in different ways, which requires acceptable, reasonable and transformative risk”.

Zarepour demanded the identification and prioritization of problems and added: “CEOs of the companies must resolve the cumbersome issues arising in projects and be aware that effective measures in the national economy, livelihood, and most importantly shareholder profits must be taken in management”.

Emphasizing that the companies must provide monthly reports on their activity process, he declared: “Managers and companies subsidiary to Petrofarhang Holding are expected to decide prudently and act courageously in the face of various issues while conforming to the approved plan”.

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