Dehdasht Petchem Project Crosses 49% Completion Mark as Financing Push Accelerates

The progress update was delivered during the company's annual general meeting, where shareholders reviewed financial performance, legal affairs, procurement contracts, and engineering milestones.

Breakdown of Project Execution

Mohammad Shokri, Managing Director and Vice Chairman of Dehdasht Petrochemical Industries Co., detailed the status of site construction and engineering works:

Shokri emphasized that procurement activities have gained momentum in recent months, with major supply contracts finalized for critical process machinery, power generation components, electrical systems, and plant automation controls. Several key components are currently under fabrication or undergoing transit to the construction site.

Comprehensive Capital Raising Strategy

Identifying capital constraints as the primary bottleneck for project timelines, Shokri outlined several major credit facilities and liquidity programs currently undergoing regulatory review:

• Commercial Bank Loans: Loan applications for 120 trillion IRR (~$240 million) from Bank Refah and 100 trillion IRR (~$200 million) from Bank Tejarat have been submitted to the Central Bank of Iran for final authorization.
• Foreign Exchange & Sovereign Facilities: The company is pursuing a $50 million credit facility from the National Development Fund of Iran (NDFI) alongside $100 million via the Iran Currency and Gold Exchange Centre.
• Equity Expansion: A capital increase proposal of 60 trillion IRR (~$120 million) is actively moving through shareholder channels, supported by parent group Persian Gulf Petrochemical Industries Co. (PGPIC).

Shokri added that supplementary contract addendums and contractor restructurings have been finalized to ensure continuous site operations as financing packages are finalized. Shareholders formally approved the company's annual financial statements and auditor reports at the conclusion of the meeting.