MAPNA Group

MAPNA Group is a group of Iranian companies involved in development and execution of thermal and renewable power plants, oil & gas, railway transportation and other industrial projects as well as manufacturing main equipment including gas and steam turbines, electrical generator, turbine blade and vane, HRSG and conventional boilers, electric and control systems, gas compressor, locomotive and other pertinent equipment.

MAPNA
TypePublic company
TSE: MAPN1
ISIN: IRO1MAPN0000
IndustryConglomerate , Power, Oil & Gas, Railway Transportation
Founded1993 (1993)
HeadquartersTehran . Iran
Area served
Worldwide
Key people
Abbas Aliabadi
ProductsPower plants; gas and steam turbines, boilers, generators, transformers, auxiliary equipment. Locomotives[1] Power generation technology, industrial and buildings automation, medical technology, railway vehicles, water treatment systems
Revenue US$2.11 billion (2016)[2]
Number of employees
15000 (2016)
DivisionsPower
Oil & Gas
Rail Transportation
Investment
Services
Websitewww.mapnagroup.com

The company was initially named Iran Power Plant Projects Management Company, MAPNA (مپنا) serving as the acronym of the Persian title. The full title was dropped in October 2012 following diversification of the holding's activities, with MAPNA becoming the official trademark of the company.

MAPNA was founded in 1993 with the initial aim of becoming a general contractor for thermal power plants but evolved and diversified its business lines and capacities to other industries two decades after its establishment. The group is the first and leading Middle East-based general contractor of thermal power plants in MENA region.

History

Historically, large scale industrial installation in Iran had been supplied by foreign companies on a turn-key basis. The Iran Power Plants Management Company (MAPNA) was founded in February 1993 by Tavanir, IDRO and Saba Investment Co. to manage power projects.[3] The group of companies was instrumental in developing Iranian manufacturing capacity of main and auxiliary equipment for power plants, and of plant construction then. From 2001, the company entered into licensing and technology transfer agreements for gas and steam turbines, turbine blades and vanes, electrical generators, electric and control systems, heat recovery steam generators, compressors and electrical generators as well as railway locomotives.

MAPNA is the largest contractor for steam, gas and combined cycle and renewable power plants in Iran. By 2015, over 100 projects with a total value of €30 billion were either commissioned or under construction by the company. The projects included power generation plants with an installed capacity of more than 48000 MW. In terms of installed capacity, MAPNA's domestic commissioned power projects comprise 46% of Iran's national grid, with a capacity of 35530 MW.[3]

The company holds offices in Indonesia, Iraq and Syria. It has carried out projects in these countries, and also in the Sultanate of Oman. Beside these countries, MAPNA is involved in business activities in the countries of MENA region, Africa and Southeast Asia.

In 2005, the company was among the top dozen companies on the Tehran Stock Exchange, with a value of over $1 billion. MAPNA was the fourth largest enterprise in Tehran Stock Exchange by June 2010, with a market capitalization of $2.6 billion.[4] Saba, Edalat Brokerage, MAPNA Employees Investment Co. and Ayandeh Negar are key shareholders of the company, collectively holding 90% of the company stock. The remaining 10 percent is in possession of private and legal entity shareholders.

Company structure

As of 2015, the firm is a conglomeration of the parent company with 40 subsidiaries.[7] There are five main group divisions:[8]

Manufacturing[4] MAPNA Turbine Engineering & Manufacturing Co. (TUGA) is a manufacturer of gas and steam turbines for industrial and power applications.[5] MAPNA Turbine Blade Engineering & Manufacturing Co. (PARTO) manufacturers gas turbine hot blades and vanes.[6] MAPNA Generator Engineering & Manufacturing Co. (Pars),[7][8] and MAPNA Electric & Control Engineering & Manufacturing Co.[9] is involved in the manufacture and design of generators, and control equipment respectively for power plants.[8]

MAPNA Boiler Engineering & Manufacturing Co. (MBC), founded 1999 as MASBA, renamed in 2005, designs, manufactures and installs boilers including HRSG boilers in a technology transfer association with Doosan (S. Korea).[8][10] The division also includes SEPAHAN Equipment Manufacturing Co. and MAVADKARAN Co.[8]

Alborz Turbine Power Plant Engineering and Support Co. was founded in 2009 as a service provider.

Power. MAPNA Power Plant Construction and Development Company (MD-1), MAPNA Combined Cycle Power Plant Construction and Development Co. (MD-2), and MAPNA Special Projects Construction and Development Company (MD-3) are involved in the construction of gas turbine power plants, combined cycle power plants (i.e. gas turbine plus HRSG), and power plant for petroleum industries. MAPNA Engineering Co. (MONENCO Iran) is a design and consultancy company for utility projects. MONENCO was created as a joint venture between the Montreal Engineering Company and the Iranian state before the 1979 revolution. The government's share was acquired by MAPNA in 1997, whilst Montreal Engineering's share passed to AGRA and then AMEC with that company's acquisition history. NASBNIROO undertakes construction of electrical transmission infrastructure, fuel storage tanks and other construction work.

Investment Projects. The investment project division finances Build-Operate-Transfer (BOT), Build-Operate-Own (BOO), buyback and other investment schemes in the group's general area of business.

Oil and Gas. The oil and gas division was created to extend the group's activities into petroleum plant construction, related engineering and consultancy and manufacturing. The subsidiary Neyrperse Co. is engaged in petroleum industry plant infrastructure (storage tanks, piping) as well as other civil engineering construction projects including bridges, dams, and road construction. Other subsidiaries include MAPNA Oil & Gas Development Co., MAPNA Drilling Co. and Tehran Energy Consultants.

Rail transportation. The company MAPNA Locomotive Engineering & Manufacturing Co. was created in 2006 to manufacture passenger locomotives procured under a technology licensing agreement with Siemens. MAPNA Railway Construction & Development Co. and MAPNA Railway Operation & Maintenance Co. are other subsidiaries of the holding in rail division. MAPNA also runs a joint venture with French Faiveley Transport (part of Wabtec Corporation since 2015), manufacturing break systems.

Board of directors

Mohammad Reza Noory serves as the chairman of the company and Abbas Aliabadi serves as President of MAPNA. Jafar Joola, Keyhan Kavoosi Chahak, and ٍReza Bakhtiari are other members of the Board of Directors. Joola also serves as secretary of the board.

History of managers

1- Saeed Marjoei: 1993–2000

2- Mousa Refan: 2000–2012

3- Abbas Aliabadi: 2012-now

See also

References
  1. "Iran Power Plant Projects Management Co". investing.businessweek.com. Bloomberg. Retrieved 26 June 2011.
  2. "Top 100 Iranian Companies". Archived from the original on 12 June 2018.
  3. Sources:
    "Mapna Group : Dedicated to Excellence" (PDF). mapna.com. Mapna Group. June 2008.
    "Mapna Group : Dedicated to Excellence" (PDF). iccair.com. Mapna group. April 2011.
    "Mapna Group (History)". mapna.com. Archived from the original on 13 May 2011. Retrieved 26 June 2011.
  4. "Mapna Group (Engineering and manufacturing)". mapna.com. Archived from the original on 23 May 2009. Retrieved 26 June 2011.
  5. "MAPNA Turbine Engineering & Manufacturing Co. >> TUGA". mapnaturbine.com.
  6. "Parto . Turbine Blade Engineering & Manufacturing Company". mapnablade.com (in Persian and English).
  7. "شركت مهندسي و ساخت ژنراتور مپنا / Mapna Generator Engineering and Manufacturing Company". mapnagenerator.com (in Persian and English).
  8. "Subsidiaries of Engineering & Manufacturing Division". mapna.com. Archived from the original on 12 July 2009.
  9. شرکت مهندسی و ساخت برق و کنترل مپنا. mapnaec.com (in Persian). Archived from the original on 14 July 2011.
  10. Sources:
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