The company, which will trade under the ticker “ShTabriz,”
is preparing to become the 631st company listed on the Tehran Stock Exchange,
Chief Executive and Vice Chairman Seyed Nourallah Mirashrafi said at the
Saturday event.
Executives outlined the company’s financial and operational
performance, production capacity, development projects and plans to secure
feedstock and fuel supplies. They also discussed measures to increase value
added across its production chain.
Ebrahim Sadeghi, corporate governance deputy at Parsian Oil
and Gas Development Group, said the listing would complete the stock-market
admission of all production companies within the holding group. The group is
also considering listing other affiliated entities that remain privately held,
he added.
Established in 1996, Tabriz Petrochemical operates on a
400-hectare site in northwestern Iran, including 150 hectares of industrial
facilities. Its proximity to Tabriz Refinery has helped establish a regional
refining and petrochemical hub, Sadeghi said.
Around 30% of the company’s output was exported last year
despite its obligations to supply products through domestic commodity
exchanges, executives said. The company exports to 17 countries, Mirashrafi
added.
Tabriz Petrochemical has an annual nameplate capacity of
870,000 tonnes of polymer and chemical products. It was Iran’s first producer
of polystyrene and currently supplies more than 60% of domestic demand for
high-impact polystyrene and around 40% of demand for general-purpose
polystyrene, according to the chief executive.
The company also holds a leading position in specialized
polymer grades, including polyethylene grades 3840 and 5030, he said.
Development projects advance
Several infrastructure and expansion projects are nearing
completion as the company seeks to strengthen production reliability and expand
capacity.
The polypropylene granulation project has reached 88%
completion, while a project to secure reliable electricity supplies for
expansion projects is 92% complete. Both are scheduled to come on stream this
year, Mirashrafi said.
An industrial wastewater treatment project is 94% complete.
Designed for a total capacity of 15 million cubic metres, its first phase, with
a capacity of 8 million cubic metres, is expected to become operational toward
the end of the current Iranian year.
The company’s high-density polyethylene expansion project
has reached 80% completion, with the required financing and liquidity secured,
the chief executive said.
Tabriz Petrochemical has also obtained approval for $79
million in financing from Iran’s National Development Fund for its EBSM
project.
Mirashrafi said the company had received an environmental
non-pollution certificate and secured government approval for an exemption from
restrictions on development projects within a 30-km radius, clearing a
regulatory hurdle for further expansion.
The company has also acquired full ownership of Tejarat
Gostar Navak Asia to improve the integrated management of feedstock
transportation, he said.
At the pre-IPO event, executives and advisers also addressed
winter production reliability, feedstock supplies for expansion projects,
long-term contracts, operational risks and the assumptions underpinning the
company’s profitability forecasts.
Sadeghi said the group had developed a mechanism involving
preferred shares to help protect minority shareholders’ rights and ensure their
participation in the IPO process.