Mahmoud Fakhraei, CEO of Apadana Petrochemical,
announced that the company—PGPIC’s sole methanol producer—commenced commercial
operations in March 2025 after completing its methanol unit. The focus has now
shifted toward creating added value through integration into the methanol value
chain.
“Apadana has conducted economic and technical
feasibility studies to assess various downstream opportunities,” Fakhraei
stated, adding that the studies are aimed at identifying viable pathways for
converting methanol into higher-value products.
The initiative received backing from shareholders
and supervisory board members, who emphasized the importance of upstream
institutional support to realize the company's development goals.
In addition to downstream integration, the
meeting also addressed the completion of the company’s oxygen supply project. A
range of scenarios and technical solutions were presented for review.
The shareholders' meeting concluded with the
approval of Apadana’s financial statements for the fiscal year ending March
2025, as well as the appointment of independent auditors, statutory inspectors,
alternates, and the company’s official newspaper for the new fiscal year.