Arzesh Afarinan Pasargad
Arzesh Afarinan at a Glance
Arzesh Afarinan Pasargad Company as the executive arm of Pasargad
Bank was registered on 2006.01.10. Its capital amounts to 120.17
million USD and is listed as a multi-disciplinary holding under the
Tehran Stock Exchange.
Arzesh Afarinan at a Glance
• The Company's investments amounted to 524.50 million USD in March
2015. The net profit of the Company is estimated to amount 56.75
million USD in 2016.
• Creation and completion of value chain in the Pasargad Bank is the main
axis of all investment activities in Arzesh Afarinan Pasargad Company.
Arzesh Afarinan at a Glance
• In March 2015, the Present Asset Value was estimated to be 734.36
million USD showing an accelerated growth over the past five years.
• The main function of the Company is to identify opportunities and
threats in various economic fields and the Pasargad Financial Group
with the aim of creating a value chain for optimal investment of funds,
presence in international markets
Mission
As the investment arm of Pasargad Bank aims at maximizing shareholders’
wealth with at a reasonable risk through investment and management of
assets in mining, energy, construction, information technology and financial
services.
Vision
Placing among the five investment holding companies in terms of income
in the next five years.
Board of Directors
Representative
Position
Ali Soleimani Shayesteh
Chairman of the Board of Directors
Ali Akbar Amin Tafreshi
Member of the Board of Directors
Mojtaba Zavar
Member of the Board of Directors
Rasoul Saadi
Member of the Board of Directors
Mojtaba Kobari
Member of the Board of Directors & CEO
Shareholders Structure
Shareholders
Capital (million USD)
Share (%)
117.731
97.995
Pars Hafez Investment Co.
0.24
2
Others-legal and Public
0.003
0.005
120.168
100
Pasargad Bank
Total
Share Holders
Pars Hafez
Investment Co.
2%
Bank Pasargad
97.995%
Others-legal and
Public
0.005%
Capital Changes Since The Beginning
Raise Capital Date
Old Capital (USD)
New Capital (USD)
Source Of Raise Capital
2006/11
3,338
6,676
Cash
2007/03
6,676
13,352
Cash
2008/04
13,352
21,697
Cash
2010/02
21,697
28,373
Cash
2010/05
28,373
33,380,065
Cash
2011/07
33,380,065
66,760,131
Cash
2014/12
66,760,131
120,168,236
Cash
The main shareholder
• Bank Pasargad was established in 2005 as a part of the
government’s privatization of the banking system
• While registered in Tehran Stock Exchange, the bank operates
throughout the nation with 1.5 million direct and indirect shareholders
• The bank is ranked first in terms of paid up capital and Highest Profit
Increase among Iranian Banks
The main shareholder
• The current capital of Bank Pasargad is 1,682 million USD
• Bank Pasargad with 327 branches throughout the nation provides various
financial services in domestic and foreign currency to millions of
customers
• Winner of the Banker’s Award as Bank of the Year 2010 , 2012 &
2013 in Iran
• In 2015, the bank awarded the best bank by Euro money
The main shareholder
• Branches of Bank Pasargad provide various foreign exchange services and all
branches accept applications for letters of guarantees and documentary credits,
• Highest Profit Increase among Iranian Banks,
• The market value of the bank on July 22, 2015 was 2.53 billion USD
which ranked the bank 2nd within banking sector and 10th among all
firms on the Tehran Stock Exchange in terms of market value
Arzesh Afarinan
Ranking
• Arzesh Afarinan Pasargad Holding ranked 18 among hundred top companies
in Iran in 2014-2015 in terms of sales with sales of 490.89 million USD,
• Ranked first in terms of ranking rise
• Ranked second in terms of sales growth
Arzesh Afarinan Pasargad ranking in terms of
Sales in 2014-2015
Company
Sales (million USD)
1
Khalij-e-Fars Holding
8,520
2
Ghadir Investment Co.
7,927
3
Parsian Oil & Gas Development Co.
6,994
4
Oil Pension Fund Investment Co.
4,204
5
Tamin Petroleum & Petrochemical Investment Co.
3,664
6
National Development Group
2,730
7
Pars Arian
2,672
8
Ayandegan Economic Development
1,846
9
Mehr-e Eghtesad-e Iranian Investment Co.
1,140
Arzesh Afarinan Pasargad Ranking in terms of
Sales in 2014-2015
10
11
12
13
14
15
16
17
18
Company
Iran Investment Co.
Tamin Pharmaceutical Investment Co.
Tamin Cement Investment Co.
Oil Industries Construction and Engineering Holding
Darou Pakhsh
Behshahr Industrial Development Co.
Fars and Khuzestan Cement
Rahian-e Javan Arman
Arzesh Afarinan Pasargad Co.
Sales (million USD)
1,134
1,134
731
697
659
579
540
517
491
Arzesh Afarinan Pasargad Ranking in terms
ranking rise
Company
Sales (million
USD)
Sales ranking in
2012-2013
Sales rank in 20132014
Ranking change
Arzesh Afarinan Pasargad
Co.
491
132
78
54
Bank Day
635
119
66
54
Kosar Credit Institute
467
123
81
42
City Bank
726
75
58
17
Parsian Oil & Gas
Development Co.
6,994
20
5
15
Arzesh Afarinan Pasargad Ranking in
terms of Sales Growth
Company
Sales (million USD)
Sales Growth (%)
Bank Day
635
270
Arzesh Afarinan Pasargad Co.
491
261
Parsian Oil & Gas Development Co.
6,994
260
Ghadir Investment Co.
227,448
205
Kosar Credit Institute
467
183
Arzesh Afarinan latest Investments
Name Of Company
Capital (million USD)
Ownership %
Pasargad Energy
Development Co
170.249
56.7
Midhco
734.410
15.4
Mabna Khavarmiane
121.845
19.1
Pars Aryan Inv
479.870
12.7
Sakhteman Hashtom
17.459
78
Fanap
40.058
14.7
Pasargad Payment Services
3.338
37
Pasargad Insurance
37.856
5
Arzesh Afarinan latest Investments
Name of Company
Capital (million USD)
Ownership %
Iranian Reinsurance Co.
67.132
5.1
Nezam Mohandesi Arian
6.676
27.3
Pasargad Property Develompent Co
8.346
42.2
Modabberan Sakht Aryan
??
10
Pasargad Machinery & Equipment
3.338
51
Pasargad Brokrage
4.006
14
Pasargad Leasing Co.
16.691
1.5
Pasargad Exchange
6.676
2.5
Mine & Steel Investment
• Arzesh Afarinan Pasargad Holding is the shareholder of
one of the largest mining and steel holdings conducting a
chain of mining operations from extraction of iron ore to
production of crude steel.
• The Holding was established in late 2007 and has
completed part of the projects.
Mine & Steel Projects
Estimated capital costs
Project
Million Rials
Euros
Costs
Million
Rials
Euros
Operation
date
Progress
(%)
Sirjan concentrate,
Phase 1
2,952,113
153,150,000 3,060,811
153,150,000
2013.05
100
Sirjan concentrate,
Phase 2
4,752,311
67,000,000
4,832,212
67,000,000
2015.02
100
Sirjan pellet
production
4,743,474
98,279,704
2,087,128
40,645,932
2016.02
58
Bardsir reduction
3,555,736
92,340,000
2,697,144
92,340,000
2014.03
100
Mine & Steel Projects
Estimated capital costs
Costs
Million Rials
Euros
Million Rials
Euros
Operation
date
Bardsir steel production
5,885,058
132,578,088
2,960,937
109,494,000
2016.06
60
Zarand concentrate,
Phase 1
2,928,651
147,000,000
3,353,588
147,000,000
2013.06
100
Zarand concentrate,
Phase 2
4,549,601
68,000,000
3,659,453
46,018,408
2015.02
94
Zarand pellet
production
4,601,167
96,279,704
3,178,552
73,419,671
2015.06
82
Zarand steel production
29,543,172
513,254,962
7,313,025
127,049,538
2017.04
31
Project
Progress (%)
Mine & Steel Projects
Estimated capital costs
Costs
Million Rials
Euros
Million Rials
Euros
Operation
date
Zarand coke production
4,327,518
92,000,000
4,659,480
92,000,000
2013.09
100
Copper cathode
5,249,034
52,800,000
2,715,193
Euro
2016.04
65
Copper pipe
12,876,000
12,876,000
929,058
12,876,000
2015.03
99
Botia and steel
535,500,000
535,500,000
725,394
15,963,073
2018.01
3
Botia pellet production
5,674,481
120,000,000
884,948
18,714,403
2016.01
17
Project
Progress (%)
Mine & Steel Projects
Project
Estimated capital costs
Costs
Operation date
Progress (%)
Million Rials
Euros
Million Rials
Euros
Hamedan
Ferrosilicon
437,462
7,000,000
465,996
7,000,000
2014.03
100
Pabdana coke
448,262
4,885,429
466,344
4,885,429
2013.02
100
Combine cycle
11,492,599
255,000,000
27,097
0
2016.04
1
Hamedan
Ferrosilicon 2
553,341
7,000,000
224,000
3,000,000
2016.06
43
Tabas coke
722,684
6,000,000
0
0
2016.12
0
Lime and
dolomite
1,667,279
12,800,000
0
0
2016.12
0
Total
119,418,035
3,566,740,390
44,240,360
1,321,357,188
Oil and gas upstream
Investment
Drilling Services
• Holding are active in the oil and gas upstream sector (exploration and extraction of
oil and gas) including drilling operations, rig purchase, technical drilling services,
design and development of the reservoir simulation software
• Organizational activities: Monitoring offshore drilling machine in China, monitoring
the performance of rig operator companies and feasibility study of several projects
Oil and gas downstream
Investment
Butane Complex
• The Complex will be constructed to produce 60 thousand tons of isobutylene,
30 thousand tons of butyl rubber and 70 thousand tons of butadiene.
• After land acquisition, the Holding is in talks with several foreign companies to
obtain a technical license. The estimated cost for this project is 313 million
dollars.
Oil and gas downstream
Investment
Qeshm Oil Refinery
• The project with a capacity of 35,000 barrels per day will be constructed in
Qeshm Island. The production capacity is 1.16 million tons per year with a light
oil production capacity of 1.03 million tons per year.
Oil and gas downstream
Investment
Construction of Siraf Gas Condensate Refinery
• Oil Ministry attempted to attract investors to construct the comprehensive Siraf
refinery complex including eight 60000-barrel refineries.
• One of the subsidiary companies obtained permission to invest in a refinery unit.
The amount of investment is 500 million dollars with estimated annual sales of
1,757 million dollars. The implementation duration is three years.
Oil and gas downstream
Investment
Construction of methanol, propylene and propylene downstream chain
• The project will be conducted by three companies. For this purpose, the Holding
purchased the shares of three companies including Petro Hidaj, Pardis Fanavaran
Zanjan and Petro Khorram Pardis
• The capacity of methanol unit is 500 thousand tons. It is noteworthy that the
project funding is still in progress through the ECO Bank in collaboration with the
Pasargad Bank
Oil and gas downstream
Investment
Fajr Kerman Petrochemical Complex
• producing propylene from natural gas in Kerman with a capacity of 430 thousand
tons of polypropylene, 122 thousand tons of liquefied gas and 180 thousand tons
of gasoline.
• focuses on the production of EPDM, EVA and polypropylene as finished
products.
Oil and gas downstream
Investment
Gas Supply Project
• The volume of investment in gas supply projects in Sistan and Baluchestan and Iraqi
gas pipeline is 1.4 billion and 1.7 billion dollars, respectively,
• supplying about 75 percent of this figure by the National Development Fund, one of
the subsidiary companies participated in the tender and won gas supply project to
Iraq. This will provide an opportunity for wide participation of partner investors.
Power Plant Investment
Arzesh Afarinan Pasargard Holding via PDEC has invested in three
power plant projects with the following characteristics through its
subsidiaries.
Power Plant Projects
Capacity (MW)
Ownership (%)
Sales in 2014-2015
(million USD)
Urmia
954
37.5
89
Shariati Mashhad
350
100
50
Khoy
350
36
49
Power Plant
Power Plant Development
Projects
• The subsidiary companies have two development projects in progress :
A) Urmia combined cycle power plant with an investment of 450 million euros
B) Qeshm power plant with an investment of 227 million euros (capacity: 500 MW)
• The research work has been carried out and the projects are at financing and
implementation stages. These two projects provide an opportunity to participate
investors outside the Group.
Construction Industry
Goals
• Investment and collaboration with mass producers in construction projects
• Participation and investment in the modernization and improvement of old tissue
around the shrine of Imam Reza (AS) in Mashhad
• Representativeness for economic, technical and management studies in construction
and housing sector
Mass construction projects
Name Of Project
Progress %
Estimated Cost - USD
Shahrdari
24.50%
6,809,988
Heravi
90.40%
400,588
Qazvin
75.90%
4,873,815
Niavaran
34.60%
18,360,262
Mashahad
24.10%
43,997,864
Karaj
72%
6,008,813
Tabriz
30.20%
6,342,636
Kohak
53%
2,169,849
Total
-
88,963,814
Reinsurance Investment
• Arzesh Afarinan Pasargad Holding has an investment seat in one of the largest
reinsurance companies in Iran. It is noteworthy that premiums issued in Iran
during 2014-2015 amounted to 6.3 billion dollars.
• Compensations paid by insurance companies during 2014-2015 was more than 3.6
billion dollars. The ratio of insurance market loss during 2014-2015 was 59.1%.
• The volume of reinsurance premiums accepted by Iranian Reinsurance Company
in 2014 was more than 12 million dollars. The present market value of the
Company (June 2014) is about 110 million dollars.