Mohammad Shariatmadari, during a three-day trip to Mahshahr to review the status of the complex and its projects, visited the Bandar Imam Petrochemical Plant on Wednesday.

He noted that Bandar Imam is one of the oldest petrochemical units in the country and holds a special place in the national economy. As the largest petrochemical facility in Iran, it must return to global standards.

Shariatmadari stressed that if production units are not up to par in terms of HSE (Health, Safety, and Environment) standards, the execution of development plans would be questionable.

He emphasized the need to first modernize and secure the existing units at Bandar Imam to their maximum capacity and take essential steps to ensure feedstock supply. Additionally, necessary parts and catalysts for unit reconstruction must be secured to maintain stable production and achieve maximum capacity.

The CEO highlighted that employee satisfaction in production units is a top priority. He stated that the reasonable demands of workers, who have kept production running, must be met to ensure their satisfaction and alignment with the industry.

Shariatmadari also emphasized that companies should not rely solely on their revenues and must make serious efforts to secure financing for development projects. He asserted that no project should begin until its funding is secured.

He added that new plans must be implemented to keep the country's economy moving. If the selected plans are economically viable, financial resources must be secured. Therefore, innovative solutions for financing, even under sanctions, must be pursued. While sanctions pose challenges, solutions are not impossible. He expressed hope for international openings to facilitate access to global markets.

Targeting foreign financial resources

During a visit to the Bouali Sina Petrochemical Plant, Shariatmadari announced that securing project financing through various methods is a priority for the holding company. He revealed that the group has set specific goals to secure foreign financial resources in the coming year.

Shariatmadari praised Bouali Sina Petrochemical for its increased production and profitability, expressing gratitude to the hardworking team and hoping for the continuation of this positive trend.

He noted that Bouali Sina Petrochemical is a publicly traded company, and there is a strong connection between the Persian Gulf Holding and the stock exchange.

He stressed the importance of focusing on generating value from surplus resources within the production chain and affiliated companies, as these investments play a significant role in job creation and economic growth.

As the custodian of millions of shareholders, Shariatmadari stated that securing project financing through various methods is a key focus for the PGPIC. In addition to capital markets being a suitable opportunity for financing, available banking facilities should also be utilized.

Need for smart management

During a visit to the Shahid Tondguyan Petrochemical Company, Shariatmadari pointed out that some challenges faced by companies are internal, while others are related to external factors. He emphasized the need for detailed analysis and clear plans to address these issues, suggesting the formation of task forces to resolve them.

He stressed that it is the responsibility of the board of directors and managers to address challenges with smart management, and the PGPIC will provide support as needed. He added that joint investments could develop downstream industries in the region, creating significant employment opportunities.

Shariatmadari concluded by highlighting the importance of strategic planning and collaboration to overcome challenges and drive economic growth.