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In pursuance of its declared policy of privatizing existing petrochemical plants, which started in 1991, NPC sold the ownership of one more of its production plants. Esfahan Petrochemical Complex (EPC) was listed in Tehran Stock Exchange on February 14, 2000. Established in 1989, EPC was commissioned in 1992 as part of NPC's first 5-year development plan (1989-94). Using platformate and hydrogen as its feedstock, the complex produces over 193 thousand tons of aromatics (orthoxylene, paraxylene, toluene and benzene).
Previously, Abadan Petrochemical Company, Farabi Petrochemical Company, Iran Carbon Company and Pazargad Chemical Company were privatized at the outset of NPC's privatization program back in early 90's. NPC is no longer involved in operation or management of these companies. In late 1999, two other companies, Arak & Kharge Petrochemical Companies were listed at Tehran Stock Exchange. Another company active on the privatization front is the Petrochemical Industries Investment Company (PIIC) which is owned 24% by NPC with the remaining shares held by the private sector. PIIC has set up some new ventures and has acquired several downstream plants which it operates on its own. |
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