According to the Public Relations Department of Pazargad Non-Industrial Operations Company, the decision was approved at the company’s Extraordinary General Meeting of Shareholders. Mohammad Sheikhan, CEO of the company, announced that, with shareholder consent, Pazargad’s registered capital was increased from 800 billion rials to 8 trillion rials through retained earnings and shareholder claims, as part of a broader effort to reinforce financial resilience and operational capacity.
Sheikhan said the capital increase would significantly enhance Pazargad’s financial strength, enabling the company to deliver more efficient services and provide stronger support for production and industry, particularly in the petrochemical sector. He noted that the move would also facilitate the implementation of development plans with greater coherence, speed, and effectiveness.
Elaborating on the operational impact, the CEO stated that the strengthened financial base would create the necessary foundation to improve and expand travel services, optimize the management of accommodation facilities and residential complexes, and broaden cultural, artistic, welfare, and sports services. In addition, Pazargad will be better positioned to enhance the quality and scope of project execution, specialized and general training programs, and workforce supply and management services, ensuring more accurate and effective responses to stakeholder needs.
Sheikhan expressed appreciation for the support of the company’s shareholders, attributing the successful approval of the capital increase to the backing of the board of directors and the strategic support of the CEO of Persian Gulf Petrochemical Industries Group (PGPIC). He said this development-oriented approach has paved the way for sustained growth and a stronger role for Pazargad in supporting the country’s industrial sector.
Describing the decision as a symbol of managerial synergy in pursuit of the company’s development objectives and enhanced stakeholder satisfaction, Sheikhan concluded that Pazargad, leveraging its new capital base, will decisively pursue higher service quality, increased productivity, and a stronger support role for industry in Iran’s energy capital, with a particular focus on serving the petrochemical sector more effectively.