Arak Machine Manufacturing Board Resigns Over Petrochemical Project

According to Energy Press, based on reliable sources, four members of the board of directors of Arak Machine-Building Company, namely Sarai, Ebrahimi, Nourain and Farhadi, have resigned, leaving this large industrial company in an uncertain situation.
It is said that this resignation is related to a project called Hirsa Polymer Sahand Petrochemical, which has serious uncertainties in how it will be transferred to a second-hand contractor.
Apparently, in recent days, the Farhangian Reserve Fund, as the major shareholder (through an intermediary) of this company, has held meetings in this regard with the presence of the company’s managers and has asked them for explanations. It is worth noting that Paysaz Company, as one of the subsidiaries of Arak Machine-Building Company, had sufficient potential and capacity to manufacture the equipment subject to the contract at a lower price, but regardless of this, the contract was transferred to another company.