During its annual general meeting (AGM) for the fiscal year ending March 19, 2025, Apadana presented an operational performance report and outlined development strategies focused on downstream methanol projects. Company executives emphasized the need for support from upstream institutions to help realize these goals.
Mahmoud Fakhraei, CEO of Apadana Petrochemical, noted during the meeting that the company is currently the sole methanol producer within the Persian Gulf Petrochemical Industries Co. (PGPIC) group. Apadana launched commercial operations at its methanol production unit in March 2024.
Fakhraei said the company is actively exploring downstream opportunities through feasibility studies and economic assessments aimed at creating added value from methanol production.
A report on feasibility studies related to methanol value chain projects was presented during the meeting and formally endorsed by both the board chair and shareholders' representative, who called for coordinated efforts to ensure successful implementation.
The AGM also included a briefing on possible scenarios for completing Apadana’s oxygen supply project, with various technical and financial options under evaluation.
The meeting concluded with the approval of the company’s financial statements for the fiscal year, the appointment of an independent auditor and legal inspector, as well as the designation of official media outlets for the next financial year.