The company’s annual general meeting for the financial year ended
March 20, 2026, was held with the participation of shareholders, board
representatives, and management at the headquarters of the Persian Gulf
Petrochemical Industries Complementary Development and Investment Group
(Petrol).
Hamidreza Khalili, Chief Executive Officer of Petrol and chairman of
the meeting, said the Sadaf Petrochemical complex has been fully prepared to
receive feedstock and begin production since late 2025. He added that
commercial operations will commence once feedstock and utility supplies are
secured.
Khalili stated that efforts during the past financial year focused on
resolving outstanding project issues, enabling installation and commissioning
activities to be completed ahead of schedule. He described the meeting as the
company’s final annual assembly in its project phase and expressed expectations
that future reporting would be conducted as an operating production company
once feedstock and infrastructure requirements are fully addressed.
Sadaf Petrochemical Chief Executive Officer Vahid Namnik reported that
project completion advanced from 84% to more than 99% during 2025. He said all
required equipment and machinery have been procured and that the facility is
currently ready to enter operational service upon receipt of feedstock.
Management also outlined contingency measures for feedstock and utility
supply, as well as actions taken to preserve operational readiness while
awaiting startup conditions.
During the meeting, shareholders approved the company’s financial
statements for the fiscal year ended March 20, 2026, following the presentation
of an unqualified audit opinion by the independent auditor and statutory
inspector. Legal entities serving on the board of directors were also elected
for a new term.
Major shareholders, including representatives of Petrol and Shahid
Tondgouyan Petrochemical Company, reiterated support for launching the complex
in 2026. Once operational, the facility is expected to become the country’s
largest producer of emulsion styrene-butadiene rubber (ESBR), a key synthetic
rubber used in industrial and automotive applications.