Fajr Petrochemical Company

What Fajr Petrochemical Company does

Fajr Petrochemical Company, currently operating under the trade name Fajr Energy Gulf Company (فجر انرژی خلیج فارس), is a publicly listed Iranian industrial utility provider (Iran Stock Exchange ticker بفجر / BFajr) headquartered operationally at the Persian Gulf Petrochemical Special Economic Zone in Bandar Imam Khomeini, Khuzestan Province. Originally founded in 2002 as Fajr Petrochemical and rebranded in 1396 (2017), the company is majority-owned by Persian Gulf Petrochemical Industries Company (~60%) and serves as the sole centralized utility provider for the zone's petrochemical complexes. It operates two integrated complexes — Fajr 1 (commissioned 2002–2003) and Fajr 2 (commissioned 2011–2013 under the Mehr Mandgar project, adding ~30% capacity) — generating 1,147 MW of electricity, 1,690 ton/hr of steam, industrial gases (oxygen 35,644 Nm3/hr, nitrogen 49,233 Nm3/hr, argon, plus liquid O2/N2/Ar), multiple grades of treated water (clear, RO, DM, sanitary, service, fire), and wastewater treatment (633 m3/hr Low TDS, 107 m3/hr High TDS, 120 m3/hr sanitary). It also operates small-scale solar generation (75 kW and 20 kW units). The company has developed in-house capabilities for major turbine overhauls, including domestic manufacturing of compressor blades and turbine components.

The business model combines three revenue streams: (1) long-term contract-based utility supply (electricity, steam, water, industrial gases) to captive petrochemical complexes in the zone under subscription-style arrangements; (2) sales of liquid oxygen, liquid nitrogen, liquid argon, and electricity on the Iran Energy Exchange Market (بورس انرژی); and (3) external electricity sales to hot-climate regions, representing approximately 40% of power output, with the remaining 60% supplied internally to petrochemical plants. Recent financial signals include net profit of 8.5 همت (trillion Rials), 50 همت in receivables collected, 1,700 Rials dividend per share, and 15 همت paid to National Iranian Gas Company for gas supply. The go-to-market approach is enterprise field sales with deep operational integration into customers' continuous production processes. Customer segments are dominated by intra-group petrochemical entities (olefin, aromatic, polyethylene plants) under the Persian Gulf Petrochemical Industries Company umbrella, with minor geographic diversification via the external grid. Recent strategic initiatives include a €500 million efficiency-upgrade MOU with Persian Gulf Turbine Engineering & Development Company and domestic manufacturing partnerships valued at 1,864.5 billion Rials for equipment localization.

Name

Fajr Petrochemical Company

Legal name

Fajr Energy Gulf Company (شرکت فجر انرژی خلیج فارس)

Website

https://fajrco.com

Company type

Public

Founded year

2002

Operating status

Operating

Headcount range

51–100 employees

Short description

Fajr Energy Gulf (formerly Fajr Petrochemical) is the sole centralized utility provider for the Persian Gulf Petrochemical Special Economic Zone at Bandar Imam Khomeini, Iran, supplying electricity, steam, industrial gases, and water/wastewater services to petrochemical complexes. Listed on the Iran Stock Exchange (بفجر).

Ownership category

akta.pro rank

Product category

Industrial Utility Services for Petrochemicals

NAICS

Fossil Fuel Electric Power Generation (221112), Electric Power Generation, Transmission and Distribution (2211)

SIC

Cogeneration Services & Small Power Producers (4991), Water Supply (4941)

akta.pro primary industry

Refinery Hydrogen & Utilities Systems (SMR/ATR, Steam, Power, Water) (EUALAGAI)

Keywords

• Utility services
• Industrial gas production
• Petrochemical infrastructure
• Power generation services
• Water treatment services

Headquarters

HQ city

Tehran, Tehran

HQ country

Iran

HQ region

Middle East

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Supply Chain, Personnel, Technology or R&D

Revenue model

1. Utility Services to Petrochemical Complexes: Provides essential utility services (electricity, water, steam, industrial gases) to petrochemical companies in the Persian Gulf Special Economic Zone under long-term contracts. Revenue is generated through supply agreements with nearby plants.
2. Energy Exchange Market Sales: Sells electricity and industrial gases (argon, nitrogen) on Iran's energy exchange market (بورس انرژی), including liquid oxygen sales launched on the exchange.
3. External Electricity Sales: 40% of electricity production is sold outside the petrochemical zone to hot climate regions, with 60% supplied to petrochemical companies.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Fajr Energy Gulf Company operates an integrated utility complex (Fajr 1 and Fajr 2) in the Persian Gulf Petrochemical Special Economic Zone at Bandar Imam Khomeini, Iran. It produces and supplies electricity (1,147 MW), steam (1,690 Ton/hr), industrial gases (oxygen, nitrogen, argon via air separation units), and a full range of treated water (RO, DM, clear, sanitary, service, fire water) and wastewater treatment to neighboring petrochemical plants under long-term contracts. It also sells electricity and liquid gases on Iran's Energy Exchange Market (بورس انرژی).

Product overview

Fajr Energy (Persian Gulf) operates as an integrated utility services provider for the petrochemical industry in Iran's Special Economic Zone. The company functions as an energy hub providing critical infrastructure services including power generation (1,147 MW), steam production (1,690 Ton/hr), industrial gases (oxygen, nitrogen, argon via air separation), and water/wastewater treatment. The company operates two main complexes (Fajr 1 and Fajr 2) and supplies utility services to surrounding petrochemical plants. Recent developments include expansion into renewable energy with solar power installations.

Differentiator

Problem solved

Functional benefit

Products and services

• Electric Power Supply (برق) Power generation and distribution services providing approximately 1,147 MW of electricity to petrochemical complexes in the Persian Gulf Special Economic Zone, with 60% supplied to petrochemical companies and 40% sold externally. Expansion plans target 2,600 MW.
• Steam Supply (بخار)

Quantifiable outcome

• 65+ million person-hours without process safety incident
• +4 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• Engineering and Turbine Development Company of Persian Gulf (شرکت مهندسی و توسعه توربین خلیج‌فارس)coreStrategic or Co-development Partner · 17 October 1404Strategic MOU signed for increasing capacity, improving efficiency, and reducing fuel consumption at Fajr 1 and 2 utility complexes. Project valued at approximately 500 million euros focusing on heat recovery, air cooling, turbine upgrades, and fuel consumption minimization.
• Domestic Equipment ManufacturerscoreStrategic or Co-development Partner · 1 January 1404Various MoUs and contracts signed at Petrokerm 1404 exhibition with domestic Iranian companies for manufacturing equipment including rotor assemblies, pump shafts, turbine Alstom segments, ceramic parts for V94 turbine combustion chambers, compressor blades for gas turbines, various pumps and control valves. Total value exceeding 1,864.5 billion Rials plus 500 million euros for consulting.

Scale indicators9 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Veolia Environnement: Global leader in industrial water treatment, wastewater, and waste-management services for heavy industry including petrochemicals. Comparable to Fajr's water and wastewater treatment operations, though Veolia's scope is broader and not centered on a single anchor complex.
• ENGIE: Global integrated utility with substantial gas-fired power generation and cogeneration assets, plus industrial-customer energy services. Comparable on the power/steam utility side of Fajr's business; less focused on industrial gases or petrochemical onsite supply.

Direct peers

• Air Products and Chemicals: Major onsite industrial-gas supplier to refineries and petrochemical complexes globally, providing oxygen, nitrogen, hydrogen, and steam. Closely mirrors Fajr's mix of utility gases plus adjacent utility services, and shares the onsite-cogeneration business model.
• Messer Group: Privately held industrial-gas supplier with strong focus on onsite supply to chemical and petrochemical complexes in Europe, the Americas, and Asia. Comparable in product portfolio and onsite-utility customer model, though Messer is more commercially minded and not vertically integrated into steam/power.
• Linde plc: World's largest industrial-gas company by revenue, with a major onsite/merchant business serving petrochemical clusters. Comparable to Fajr in product mix (oxygen, nitrogen, argon, hydrogen) and in providing pipeline-supplied industrial gases to integrated chemical complexes.
• Air Liquide: Global leader in industrial and medical gases, supplying oxygen, nitrogen, and argon to large petrochemical and refinery complexes under long-term onsite contracts. Most directly comparable to Fajr's ASU and industrial-gas supply streams, though at much larger scale and globally diversified.

Emerging players

• SOL Group: European industrial-gas supplier with onsite medical and industrial-gas installations. Overlaps with Fajr on industrial-gas products and onsite supply model, but operates at much smaller scale.
• Air Water Inc. Japanese industrial-gas producer with onsite supply to chemical complexes. Comparable in gas product set to Fajr; smaller and more regionally focused, useful as an emerging-market peer benchmark.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/fajr-petrochemical-company
• Instagraminstagram.com/fajrenergy

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fajr Petrochemical Company