Getting to know Iran’s petrochemical companies; this is Kimia Pars Middle East

According to Energy Press, Kimia Pars Middle East Company was founded in 2007 in the heart of the Pars Energy Special Economic Zone in Bandar Asaluyeh; an area known as the beating heart of the country’s oil and gas industries and has provided the basis for the development of many petrochemical companies.
After more than a decade since the beginning of Kimia Pars Middle East’s initial activities, the company was officially inaugurated in 2020 by order of the then president with the aim of producing 1.65 million tons of methanol annually; an event that is considered a turning point in its history and indicates the economic importance and scale of the project. The main feedstock for this petrochemical is natural gas, which it receives from Damavand Energy Company.
Today, Kimia Pars Middle East operates with more than 600 employees and exports all of its products to different countries; a matter that has made this company one of the country’s important foreign exchange earning units. 100% methanol exports not only have a direct impact on increasing foreign exchange earnings, but have also consolidated Iran’s position in the global petrochemical product chain. The company is currently managed by Habibollah Dibaji, and its ownership structure is a combination of major petrochemical shareholders. Petrofarhang Holding is the main owner of the company with 89% of the shares, and the Iranian Petrochemical Group Capital Development Management Company is the other major shareholder with a 7% share.