The Extraordinary General Assembly of MAPNA Group’s shareholders took place on Tuesday morning, August 6, 2024, at the National Library’s conference hall, with over 81% of shareholders in attendance.
MAPNA Group President Mohammad Owliya presented a comprehensive report on the board of directors’ activities, the conglomerate’s missions and achievements, and the financial and business performance for the 11-month financial period ending March 19, 2024. He also outlined plans for the financial year ending March 20, 2025.
By the end of last year (March 19, 2024), MAPNA Group had surpassed the milestone of building over 50,000 megawatts of power plants, reaching a total production of about 52,000 megawatts, Owliya said, adding that this includes 5,000 megawatts from export projects in countries like Iraq, Syria, Turkmenistan, Senegal, and Indonesia.
He said that contracts for developing nearly 2,000 megawatts of power plants were signed during this fiscal period, mostly with domestic industries.
Additionally, the group synchronized 13 units, temporarily delivered 16 units, permanently delivered 12 units, and commissioned 5 units as overseas projects, according to Owliya.
MAPNA Group also concluded seven contracts in the oil and gas sector for developing oil fields and refinery projects, and signed 10 agreements in the transportation sector for producing wagons, locomotives, and rail and metro parts, he noted, adding that the conglomerate also worked on road transportation and electrification projects, especially developing infrastructure for electric car and bus including charging stations and electric motors.
The MAPNA Group President said that their new approaches in sustainable development include energy efficiency, electrification, renewable energy, water, digitization and intelligence, technical and engineering exports, and improving organizational structure and transmission and distribution.
The conglomerate is focusing on leaving low-yield investments and replacing them with profitable economic plans, increasing profitability, improving financial discipline, moving some companies between sectors, redefining company missions, enhancing organizational agility, and transitioning towards centralized and specialized business holdings, he said.
Some of the most important new products and projects of MAPNA Group, according to Owliya, include MAPsolar (a solar power and battery package), design and construction of 4,000 horsepower freight locomotives, freight locomotive diesel engines, dump truck design and construction, skid-mounted oil processing equipment, battery-based electricity storage systems on a grid scale, water industry equipment, hydrogen production equipment, hydrogen-fueled turbines and boilers, power supply plans in industrial towns, electric car battery production, and an agricultural water efficiency plan with solar greenhouses.
Elsewhere, he noted that MAPNA Group achieved an annual production of 160,000 tons of aluminum.
During the meeting, a cash dividend of 500 Rials per share for the 11-month financial period ending March 19, 2024, was approved.
