Farabi Petrochemical Company

Farabi Petrochemical Company:

Farabi Petrochemical Co. The growth in consumption of plastic materials and the increase in paint industry in Iran led to the establishment of Iran Nippon joint-stock company with collaboration of National Petrochemical Company of Iran and Japanese Mitsubishi and Nichiyu group, each of them with a share of 50% ; they intended to produce 40000 TPY Di-Octyl Phthalate (DOP) and 21500 TPY Phthalic Anhydride (PA) including 16.000 TPY Liquid phthalic Anhydride (PAL) to be consumed in DOP unit as the raw material and 5500 TPY Phthalic Anhydride flakes (PAF) to be offered to the clients. It was registered under the no. 17554 on 11/09/1973.

Based on the resolution of the extraordinary general meeting dated 28/02/1996 the company was changed from private to the Joint-Stock company and its name was inserted in the Tehran stock exchange securities. Based on the resolution of the extraordinary general meeting dated on 31/07/1996 the company’s capital was increased from 4 billion Rials to 20 billion Rials. Upon further examinations and making some procedural and technical changes, the production of PA unit increased from 21500 TPY to 26000 TPY. Moreover, in the same year, the company was certified according to ISO 9002.

In addition to being certified according to ISO 9002, using the full capacity of the reactors, production of DOP unit for each batch increased from 42 tons per day to 50 tons per day. In 2002, based on the decision of the management, the project of Revamp (increase in PA Production unit) was conducted and the capacity of Phthalic Anhydride unit increased from 26.000 TPY to 33000 TPY. In the same year, Farabi Petrochemical Company was selected as top exporter of the year In 2002, using new Catalyst and lowering the production time for each batch from 16 hours to 12 hours, the production capacity of DOP unit increased from 148 tons per day to 185 tons per day.