Iran's National Petrochemical Company in process of total privatization

Iran's National Petrochemical Company (NPC) plans to get totally privatized. For this, the company plans to offer all shares of domestic petrochemical firms to the public in a holding company by the end of the present Iranian year (March 21, 2010). An approximate US$1.8 bln will be offered as shares in the petrochemical holding company by September. The Iranian Privatization Organization has approved offer of shares on the stock market. Earlier, Iran’s Oil Ministry released the list of 21 companies to be offered to the private sector in line with Article 44 of the Constitution. Of which, 5 belong to the National Iranian Oil Company (NIOC), 9 to the National Petrochemical Company (NPC), 5 are affiliates of the National Iranian Gas Company (NIGC), and 2 of the National Iranian Oil Refining and Distribution Company (NIORDC).
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