The announcement of the extension of Mahmoud Landi's mission as CEO of Oxin Steel Khuzestan has once again raised questions about the managerial, political, and economic relations surrounding this large steel company; a company whose assets and benefits are partly linked to pension funds and thus to retirees' resources.
Influence of Mowlaizadeh in Appointments of Provincial Industrial Companies
According to information and documents available to Fidus, the extension of Mahmoud Landi's presence at Oxin Steel, despite some administrative and legal obstacles and challenges, was not merely a routine managerial decision. Among these, the role of Ali Akbar Mowlaizadeh, the governor of Khuzestan, is one of the subjects that requires official clarification.
The available information also indicates the employment of the governor of Khuzestan's daughter and son-in-law at Oxin Steel; a matter that, if officially confirmed, raises the question of whether there was any connection between these hires and the support for Landi's continued management.
Meanwhile, reports about extensive lobbying in the National Pension Fund and the Social Security Organization to maintain the managerial composition of Oxin Steel have been raised. The managers of these institutions must clarify on what performance evaluation, resolution, and criteria the extension of the Oxin CEO's mission was based and who played a role in this decision.
300,000 Tons of Slabs; How Retirees' Money Was Spent
One of the most important areas requiring independent auditing is the purchase of slabs or steel billets by Oxin Steel over the past year. Current estimates indicate that the company has purchased over 300,000 tons of slabs; a volume where even a few percent difference in purchase price, transportation, or quality can lead to very large figures.
Mahmoud Landi must clearly state from which companies Oxin Steel purchased the required slabs, with what volume, grade, and final price.
It is also necessary to determine how much the price of each shipment differed from the rate on the same day or week in the Iran Commodity Exchange, how much the transportation cost per ton of slabs to Ahvaz was, and to which companies the transportation contracts were awarded.
The composition of shareholders and owners of transportation companies is also of special importance. Is there any direct or indirect ownership relationship between the transportation companies, slab sellers, and managers or individuals associated with Oxin Steel? Any potential weight discrepancies of slabs at the origin and destination scales should also be published. Another important question relates to the purchase of expensive slabs with API grade: Were all the slabs purchased at special grade prices actually converted into final products matching those technical specifications?
Export Contracts; Another Link That Needs to Be Clarified
Fidus's investigations are not limited to the purchasing section. Project contracts and sales of Oxin Steel products, especially export contracts over the past year, also require thorough examination.
Publishing the list of foreign buyers, sales prices, the method of selecting intermediaries, the amount of discounts, settlement conditions, and any potential connections between buyers and managers or internal intermediaries can provide a clearer picture of the company's financial flow.
Fidus believes that answering these questions is not a personal matter, but an issue related to the protection of public assets and retirees' resources.