Fertilizer Plants Appeal in Case Against Subsidiary Razi Petrochemical

Foreks - Gübre Fabrikaları (IS:GUBRF) has filed an appeal against the lawsuit brought against its subsidiary Razi Petrochemical in Iran.

In a statement made to the Public Disclosure Platform (KAP), the company provided the following information:

"It was announced that our subsidiary Razi Petrochemical Co. (Razi) was acquitted of the charges of illicit profit-making in the lawsuit filed against it, which led to the elimination of criminal sanctions. The court decided that the total lawsuit amount of 329,356,740 USD will be paid as 59,379,352 USD.

Following the notification of the decision to our subsidiary Razi, an appeal has been filed by Razi within the legal timeframe. The public will be informed of any developments regarding this matter."