Entity

Shazand Petrochemical Company, also known as Arak Petrochemical Company (ARPC), is a major integrated petrochemical complex located near Arak city in Markazi Province, Iran, approximately 22 kilometers from Arak on the Borujerd Road. The complex occupies approximately 523 hectares and operates 18 integrated production plants producing a wide range of polymers, chemicals, and synthetic rubber from naphtha feedstock.

Corporate History and Ownership

The project was initially approved in 1984, with design and engineering of the olefin unit beginning in 1985. Construction and installation work commenced in 1989, and the complex entered production in phases starting in 1993.

Ownership Evolution:

• Initial Structure (1996): Established as Arak Petrochemical Joint Stock Company with National Petrochemical Company holding 51% and Bank Melli Iran holding 49% of shares​
• Intermediate Period: Bank Melli Iran Investment Company eventually acquired controlling ownership​
• Privatization (2024): The company was fully privatized in May 2024 when Bank Melli Iran divested its ownership stake, completing the bank's asset divestiture program​

The complex now operates under private sector ownership and is part of Iran's National Petrochemical Company (NPC) industrial ecosystem, though not a direct subsidiary.