The Launch of modernizing project for the Iranol Abadan

According to the Public Relations, Brand, and Social Responsibility Department of TAPPICO, Rouhollah Shahidipour speaking at a ceremony attended by the Minister of Cooperatives, Labor and Social Welfare and the Governor of Khuzestan, welcomed the officials, managers and staff of the expansive TAPPICO group and its subsidiaries (Abadan Petrochemical, Iranol Oil and Pasargad Oil). He stated: "Today is a truly cherished and auspicious day marking the anniversary of the liberation of heroic Abadan. We are delighted to be here alongside our esteemed colleagues from the TAPPICO group and the noble people of Abadan; while honoring this momentous occasion, we are also pleased to announce positive news regarding industrial development plans for Khuzestan province and the city of Abadan."

Highlighting TAPPICO’s position within the Social Security Organization’s economic group, he added: "As you are aware, TAPPICO operates under seen of the Social Security Organization, and its principal shareholders and owners are the Organization’s esteemed workers and retirees.Therefore we consider ourselves accountable to this vast family of 45 million people and strive to channel the group’s capital into development, production, and job creation.

Mentioning the point that Abadan’s industrial potential and activing of three of the group's key companies in the city, the head of TAPPICO said: "A significant portion of this holding’s industries and subsidiaries such as Abadan Petrochemical, Iranol Oil Companyand Pasargad Oil Company are located in Khuzestan Province because of that "Our view of Abadan is a developmental and long-term view."

We believe these capacities must be harnessed more than ever before to serve the region's economy and employment.

Continuing, Shahidipour announced the launch of the modernization project for the Iranol Abadan Lube Oil Refinery, stating: Today, I have a very good news to share with you: The modernization project for the Iranol Abadan Lube Oil Plant is set to launch with an investment of approximately 1,000 billion Tomans. In addition to modernizing and upgrading the facility's capacities The modernization project for the Iranol Abadan Lube Oil Plant is set to launch with an investment of approximately 1,000 billion Tomans. In addition to modernizing and upgrading the facility's capacities, the project will create direct employment for around 50 people and is projected to take one year to complete.

He emphasized: "Our goal in implementing this project is to revitalize and modernize the existing capacities of the Iranol Abadan Lube Oil Refinery and to derive maximum benefit from this historic and valuable facility in terms of production and employment by utilizing appropriate technology and equipment."

Referring to TAPPICO’s plans to develop industries in Khuzestan province, Shahidipour also noted: "At TAPPICO, Referring to TAPPICO’s plans to develop industries in Khuzestan province, he also noted: "At TAPPICO, we consider it our duty to support noble people of Khuzestan and Abadan and to earnestly step in wherever there is potential for investment, modernization, increased production, and job creation.

We hope this project yields results within a year and that the dear people of Abadan witness its benefits in terms of production and employment.

In conclusion, while expressing appreciation for the efforts of managers and staff at the subsidiaries in Khuzestan Province, the CEO of TAPPICO stated: "These positive developments are the result of the hard work of the group's managers, staff and valuable workers and our duty is to support this valuable human capital and create the conditions for Abadan’s industrial complexes to regain their rightful place in the country's economy."