MAPNA Group President Mohammad Owliya says increased activity in the capital market is one of the focuses of the conglomerate in its 10-year vision.
“In its new phase, MAPNA is focusing on the capital market and also paying attention to renewable energy and energy storage, which are part of MAPNA’s 10-year future vision,” he said on August 28.
He made the statements in a joint press conference with a host of MAPNA Group managers as well as senior managers of the Securities and Exchange Organization of Iran. The event was held on the sidelines of the officials’ visit to Tous (Ferdowsi) Combined Cycle Power Plant in Mashhad.
Owliya said that MAPNA Group, as one of the largest knowledge-based companies in Iran, plays a pivotal role in the energy and transportation sectors. With over 75 subsidiary companies, MAPNA employs 27,500 people directly, he noted.
He introduced the diversity of MAPNA’s businesses and highlighted a selection of products, including turbines, generators, locomotives and passenger wagons, diesel engines, electrical and control systems, boilers, turbine blades, turbo compressors, and wind turbines. “The most important aspect of MAPNA’s products is that they are all manufactured in MAPNA Group’s factories and maintained within the conglomerate.”
Referring to the decline in investment in the country’s electricity industry, Owilya addressed the issue of MAPNA Group’s accumulated claims from the Ministry of Energy, stating that this problem stems from the electricity economy. He noted that the Ministry of Energy in the new government could help with the collection of claims, making the process somewhat more predictable.
Also in the meeting, Amir Hamooni, a member of MAPNA Group Board of Directors, discussed the current and future plans of MAPNA Group’s Board of Directors, including the listing of shares of several MAPNA companies on the capital market, addressing MAPNA’s foreign exchange challenges, establishing a financial services division within MAPNA Group, forming specialized MAPNA holdings, actively participating in the capital market, and creating a retirement fund for MAPNA Group employees.
Need to address electricity economy
“The imbalance in electricity and the economy of electricity are among the serious issues facing the country and the industry today, said Rasool Saadi, Secretary General of Iranian Institutional Investment Association.
“If the problem of regulated pricing is not resolved, consumption cannot be managed, and we will face serious problems,” he said, adding, “Unfortunately, the prices are unrealistic, which has led to a lack of investor attraction.”
Saadi expressed hope that the MAPNA Group will always be a source of good and blessings in the industrial sectors of the country and that the country will benefit from the services of this conglomerate.
Meanwhile, an official with Astan Quds Razavi said the body welcomes and supports the initial public offering of MAPNA Group companies in the capital market.
Addressing the meeting, Seyyed Mehdi Sadidi also said that MAPNA Group is at the forefront of knowledge in many areas of activity.
“Personally, I do not know of any organization that has the managerial stability of MAPNA and can implement management programs based on strategy,” he added.
‘Capital market most efficient platform for financing’
“The capital market can be the most efficient platform for financing national production through the direct participation of the public in the process of creating added value,” said Majid Mohammad-Kazemi, CEO of Tous (Ferdowsi) Combined Cycle Power Plant.
“Today, the biggest challenge ahead is not the development of technology or the execution of complex and difficult projects, but the major obstacle of financing,” he added.
The lack of necessary investment in recent years due to the inefficient electricity economy has gradually led to the current imbalance between electricity production and consumption, he said, adding, “If financing is secured through the capital market, shareholders, and even from past claims, MAPNA Group is ready to implement a diverse array of previous and new methods for developing the country’s electricity capacity, including renewable energy and energy efficiency projects, to address the electricity imbalance in the coming summer and subsequent years.”
Elsewhere, Mohammad-Kazemi said that MAPNA Group, having surpassed the construction of 50,000 megawatts of power plant units and approximately 350 turbines of various types, has become an influential entity in the energy industries.
Of this capacity, 12,000 megawatts are owned by the MAPNA Group, with the remaining capacity belonging to clients, he said, adding that the value of MAPNA’s ongoing projects is approximately eight billion euros.
MAPNA has taken significant steps in optimizing fuel consumption and increasing network efficiency while boosting production capacity by converting simple cycle power plants to combined cycle plants, both as an investor and a builder, he added.
Relying on the expertise of its specialists, MAPNA has also played a significant role in reducing water consumption in electricity production and implementing larger water treatment and recycling projects, contributing to alleviating the country’s water issues and is determined to enhance this role, said the official.