| Description |
In the year 2000, The Islamic Republic of Iran's Government decided to build a 2200 kilometre pipe line (Western Ethylene Pipeline) to carry ethylene gas from Assalluye to Mahabad to provide necessary feed stock for production of Petrochemical Products.
The main goal of this venture was to promote economic growth, job creation and technical enhancement in the less developed areas and provinces adjacent to the route of the said pipeline.
Ministry of Oil was assigned to this task to encourage and attract private sectors and/ or foreign investors to establish active joint ventures to investment in the said Projects.
To implement this project Bakhtar Petrochemical Company was established in February 2003 with the initial capital investment of 2000 billion Rials as a holding company, funded by following stockholders to provide the required capital investment for its Subsidiary Companies as described herein The main objective of Bakhtar Petrochemical Company is to provide management and supervision services during implementation, commissioning and production phases of its subsidiary companies and also to establish joint ventures with private sector for execution of downstream plants.
Presently, Kavian Petrochemical Company as ethylene producer with the registered capital of Rials 1900 Billion, Lorestan, Polymer Kermanshah, Kordestan and Mahabad, Andimeshk and Miandoab petrochemical companies each with initial capital investment of Rials 60 Billion are under execution.
Kavian planned to be in operation in the year of 2011, Polymer Kermanshah will be in operation in the year 2010 receiving ethylene from other resources for one year up to the time that Kavian become in operation.
Lorestan, Mahabad and Kordestan are planned to be in operation in the year 2012. Andimeshk and Miandoab are in the financing process.The government invests for Ethylene Pipeline which is under execution by PIDMCO.
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| Keywords |
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