“The coal-based production plan is under review to address the
persistent energy supply gap,” said Nourouzipoor, acting head of the company,
during the firm’s annual general meeting held on July 8.
According to a statement published by the company’s public relations
office, more than 87% of shareholders attended the meeting, which took place at
the company’s cultural and recreational center.
Nourouzipoor highlighted key developments in the company’s 2024
operations, including the settlement of a 26.81 trillion rials receivable from
the government through a share swap with Persian Gulf Holding in March.
He also announced the completion of an auxiliary wastewater treatment
plant and effluent transfer line, securing a sustainable water supply for
continuous operations.
The CEO noted that production units had been taken offline for 100
days last year due to gas supply cuts, which significantly impacted
profitability. The move toward coal is being considered to mitigate similar
disruptions.
The company has also approved the procurement of several critical
pieces of equipment, including a new urea reactor, a melamine reactor tube
bundle, and a converter basket for the urea unit.
In financial disclosures, CFO Esmaeil Alizadeh confirmed that
shareholders approved the 2024 financial statements and set a dividend payout
of 8,400 rials per share. The daily Ettelaat newspaper was selected to
publish company announcements, and the Supreme Audit Court was appointed as the
independent auditor and legal inspector for 2025.
Alizadeh added that the company will convene an extraordinary general
meeting in the near future to vote on a proposed capital increase.