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, Gachsaran Petrochemical Company as Secondary ethylene producer.
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.
The government invests for
Ethylene Pipeline which is under execution by PIDMCO.
Stock holder of Bakhtar Petrochemical Co
Kavoosh San'at Sepid Co
45.45%
National Petrochemical Co
27.27%
Pension funds of Petroleum Ministry
13.3%
Social Security Organization
4.5%
Pension Funds Investment Co
4.5%
Pishtaz Shimi Mahan Co
4.8%
Arya Salim Persian Co
0.18%
Paniz Sarafrazan Shimi Co
0.18%
Metanol Pooshineh Co
0.18%
The main objective of Bakhtar Petrochemical Company is to
Attract and facilitate investment from private and /or foreign investors in the said projects
Provide management and supervision services, during implementation,
Provide management and supervision services, during Commissioning and operation phase of the production units
Establish joint ventures with private sectors for production of downstream petrochemical products in the above mentioned areas.
