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.