The announcement of the extension of Mahmoud Landi's mission as CEO of Foolad Oxin 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 resources belonging to retirees.
Influence of Mowlaizadeh in Appointments of Provincial Industrial Companies
According to information and documents obtained by Feydus, the extension of Mahmoud Landi's presence at Foolad Oxin, despite some administrative and legal obstacles and challenges, was not just a routine managerial decision. Among these, the role of Ali Akbar Mowlaizadeh, the governor of Khuzestan, is one of the issues that requires official clarification.
Available information also indicates the hiring of the governor of Khuzestan's daughter and son-in-law at Foolad Oxin; an issue that, if officially confirmed, raises the question of whether there is a connection between these hires and the support for continuing Landi's management.
Simultaneously, reports have emerged about extensive lobbying in the National Pension Fund and the Social Security Organization to maintain the management structure of Foolad Oxin. The managers of these institutions must clarify based on what performance evaluation, resolution, and criteria the extension of the Oxin CEO's mission was carried out and who played a role in this decision.
300,000 Tons of Slabs; How Have Retirees' Funds Been Spent?
One of the most important areas requiring independent auditing is the purchase of steel slabs or billets by Foolad Oxin over the past year. Current estimates indicate that the company has purchased over 300,000 tons of slabs; a volume where even a few percentage points' difference in purchase price, transportation, or quality can lead to very large figures.
Mahmoud Landi must transparently announce from which companies Foolad Oxin has purchased its required slabs, with what volume, what grade, and at what 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 on the Iran Commodity Exchange, how much the transportation cost per ton of slabs to Ahvaz was, and which companies were awarded the transportation contracts.
The composition of shareholders and owners of the transportation companies is also of special importance. Is there a direct or indirect ownership relationship between the transportation companies, slab sellers, and managers or individuals associated with Foolad Oxin? 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: Have all the slabs purchased at special grade prices actually been converted into final products matching those technical specifications?
Export Contracts; Another Link That Needs Transparency
Feydus's investigations are not limited to the purchasing section. Project contracts and sales of Foolad Oxin products, especially export contracts over the past year, also require precise 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 domestic intermediaries can provide a clearer picture of the company's financial flow.
Feydus believes that answering these questions is not a personal matter, but an issue related to the protection of public assets and retirees' resources.