|Traded as||TSE: MAPN1
|Industry||Power, Oil & Gas, Railway Transportation |
|Mohammad Reza Noory, Abbas Aliabadi|
|Products||Power plants; Gas and steam turbines, boilers, generators, transformers, auxiliary equipment. Locomotives|
Number of employees
MAPNA Group is a group of Iranian companies involved in development and execution of thermal and renewable power, 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. The company was initially named Iran Power Plant Projects Management Company (MAPNA), but changed its title to MAPNA Group in October 2012.
MAPNA was founded in 1993 with the initial aim of becoming a general contractor for thermal power plants but has 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.
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 the Saba Investment Co. to manage power projects. 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.
In October 2010, MAPNA was given a contract for the supply of 1000MW of wind power capacity, as part of a government project to install 2.1GW of renewable energy capacity.
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 in 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 capitalisation of $2.6 billion. 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.
As of 2015, the firm is a conglomeration of the parent company with nearly 40 subsidiaries. There are five main group divisions:
Manufacturing  The MAPNA Turbine Engineering & Manufacturing Co. (TUGA) is a manufacturer of gas and steam turbines for industrial and power applications. MAPNA Turbine Blade Engineering & Manufacturing Co. (PARTO) manufacturers gas turbine hot blades and vanes. MAPNA Generator Engineering & Manufacturing Co. (Pars), and MAPNA Electric & Control Engineering & Manufacturing Co. are involved in the manufacture and design of generators, and control equipment respectively for power plants.
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). The division also includes SEPAHAN Equipment Manufacturing Co. and MAVADKARAN Co.
Alborz Turbine Power Plant Engineering and Support Co. was founded in 2009 as a reliable service provider and aimed to becoming a pioneer in total solutions to power plants and selected rotary machines.
Power. MAPNA Power Plant Construction and Development Co., MAPNA Combined Cycle Power Plant Construction and Development Co., and MAPNA Special Projects Construction and Development Co. are involved in the construction of gas turbine power plants, combined cycle power plants (i.e. gas turbine plus HRSG), and power plant for petroluem industries. MAPNA Engineering Co. (MONENCO Iran) is a design and consultancy company for utility projects. It was created as a joint venture between the Montreal Engineering Company and the Iranian state; the governments share was acquired by MAPNA in 1997, whilst Montral Engineering's share passed to AGRA and then AMEC with that company's acquisition history. The MAPNA Power Plant Erection Co. (NASBNIROO) undertakes construction of electrical transmission infrastructure, fuel storage tanks and other construction work.
Investment projects. The investment project division finances Build Operate Transfer, Build Operate Own, 'Buy Back' and other investment schemes in the groups 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. petroleum industry plant infrastructure (storage tanks, piping) as well as other civil engineering construction including bridges, dams, and road construction. Two other subsidiares MAPNA Oil & Gas Development Co. (projects) and Mapna Drilling Co. (oil well drilling) are associated.
Rail transportation. The company MAPNA Locomotive Engineering & Manufacturing Co. was created in 2006 to manufacturer passenger locomotives procured under a technology licensing agreement with Siemens.
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 Marjovi 1993-2000
2- Mousa Refan: 2000-2012
3- Aliabadi: 2012-now
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