Iran Privatizes 12 Petrochemical Companies

Iran privatized 12 petrochemical companies in the past Iranian calendar year (ended March 20, 2007), accounting for 35 percent of the sector’s subsidiaries, the National Petrochemical Company (NPC) reported here on Tuesday. In line with enforcement of Article 44 of the Constitution, nine other companies will be offered in Tehran Stock Exchange (TSE) by the end of current year, Tehran Times said.

The petrochemical companies of Khorassan, Shiraz, Tabriz, Bisotun in Kermanshah, Fanavaran, Shahid Tondguyan, Amir-Kabir, Razi in Mahshahr, and Ghadir in Assaluyeh constitute the privatization-bound companies of this year.

The NPC plans to privatize over 60 companies, whose list was sent to the Petroleum Ministry’s Headquarters for Enforcement of Paragraph C of Article 44.

The company finds the privatization obligatory and has started ceding its units to the private sector since 1989, he added

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