A joint meeting between Sepehr Energy Holding CEO Ali Yari and Mellat Bank CEO Farshid Farrokhnejad was held Thursday, April 4, 2023, to provide financial resources for the ongoing projects of the Holding.
In this meeting, which was held with the attendance of CEOs of Sabalan Petrochemicals, Dena, and senior managers of Mellat Bank, the emphasis was on the cooperation of Mellat Bank in completing the projects, providing financial facilities, and signing a cooperation agreement.
Ali Yari, CEO of Sepehr Energy, said in this meeting: “Considering Sabalan Petrochemicals’ productions and regarding the fulfillment of the two mega projects of Dena and Siraf Energy, 5 million tons of methanol will be added to Iran’s petrochemical production portfolio. It provides a sensible space for the development of the industry’s petrochemical downstream chain, which is the system’s ultimate goal. Therefore, the cooperation now formed between banks and Sepehr Energy will lay the foundation for developing the downstream strategic sector later.”
He further remarked: “At the same time with utilizing Dena and Siraf Energy in the next two years, the undertaking of two downstream plans is also on the agenda to operationalize the holding’s ultimate goal of turning the product into a higher added value besides exporting methanol.”
Yari stated: “According to the schedules, the Dena project will be completed this year and the Siraf Energy project will be completed in the upcoming year. At the same time, the construction of the acetic acid production complex on Lavan Chemical Company’s lands will be pursued earnestly until this holding is done with single-product manufacturing mode. The next steps should be taken to complete the studies for constructing the second downstream complex, simultaneously.”
“Soon, the 4-star hotel of Ghotbe Sepehr Lavan Company in Assaluyeh city will be continued after many years of interruption to operationalize the holding’s goals in production, commerce, and services,” he finally added.
Sabalan Petrochemical CEO Reza Karimi and Dena Petrochemical CEO Hossein Hashemi also lectured about these petrochemical companies’ development and investment opportunities while fully introducing their companies.
Also, Farshid Farrokhnejad, CEO of Mellat Bank, talked about the bank’s plan to support the petrochemical industry as a valuable industry and expressed his desire to hold expert meetings so that the cooperation between the two groups will jointly begin as soon as possible.
We should note that after the joint meeting of cooperation between the CEO of Sepehr Energy and the CEO of Saderat Bank in the last days of 1402 (March 2023), this is the second meeting held with the CEOs of the Iranian banks to provide financial support for the ongoing projects by the holding in the past month.
