Seyed Reza Ghazemi Shahrabi, former CEO of Shahid Tondgouyan Petrochemical, has been appointed as a non-executive member of the board of directors of Zanjan Agricultural Industries and Fertilizers Company. This appointment comes at a time when the Zanjan petrochemical project, with a planned capacity of 400,000 tons per year, has still not reached the operational stage nearly two decades after the commencement of its execution.
History of the Zanjan Petrochemical Project
The Zanjan petrochemical project, which began its execution in 2006, was supposed to be operational within four years. However, nearly 20 years later, this project is still incomplete, and these delays have led to widespread concerns among shareholders and investors. Some of the main challenges of this project include financing, infrastructure issues, and the provision of water and gas.
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Management Changes and Their Impacts
According to published announcements, Ghazemi Shahrabi has replaced Seyed Ali Akbar Nasrati on the board of directors of this company, representing Akam Naj Sanli. This management change has been registered based on the resolutions of the ordinary general assembly on August 10, 2026, and the board meeting on September 20. Seyed Afzal Mousavi, representing Hiva Business Development Company, is the chairman of the board of directors of Zanjan Agricultural Industries and Fertilizers Company, and Asghar Fakhrieh Kashan, the CEO of this group, is present as the vice-chairman of the board representing Pars Sepanta Business Development Company.
The new management of Zanjan Petrochemical must quickly respond to existing challenges and provide a clear plan for completing the project. In one of the latest developments, Zanjan Agricultural Industries and Fertilizers Company introduced Tehran Jonoub Technical and Construction Company as the winner of the tender for part of the completion operations of the Zanjan urea fertilizer project with a financial proposal of 833 billion tomans in August 2026. The contract execution period has also been set for 17 months from the time of approval and notification.
Ghazemi Shahrabi's presence on the board of directors of Zanjan Petrochemical and the management changes are considered a turning point in the history of this project. However, the continued delays and lack of transparency regarding the future of the project highlight the need for precise planning and securing financial resources. Shareholders are now seeking guarantees regarding the exact timing of operations and the removal of infrastructure obstacles.
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