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The purpose of this brochure is to provide a brief introduction to the National Petrochemical Company (NPC) of Iran. A summary of NPC's background is followed by an outline of its current status. The operating plants and complexes as well as the projects under construction are briefly described.

The initial step towards the development of the Iranian petrochemical industry goes back to 1963 when a fertilizer plant was installed in Shiraz (Southern Iran). Two years later in 1965, the NPC was established to undertake the operation and development of the petrochemical industry in Iran. Since then, through joint investments with internationally recognized companies, the NPC has established several petrochemical plants, which are operated by subsidiary companies, that produce various chemicals for both domestic and foreign markets.

NPC's major activities are focused on the manufacture, production, sale, distribution and export of commodities derived from hydrocarbons and related materials, both organic and inorganic. In order to reduce imports and promote exports, this company has conducted various projects within the First Five-Year Plan (1989-1994). In keeping with the country's policy of achieving a more active presence in world markets and breaking away from a single-export economy based on crude oil export, the petrochemical industry once again received significant attention in Iran's Second Five - Year Development Plan (1995 - 2000). Therefore, NPC is determined to gain further international recognition and keep pace with the rapid developments in foreign markets.

As a part of Petroleum Ministry, NPC is wholly owned by the Iranian government, and is administered by:

• General Assembly
• Board of Directors
• Inspectors' Committee

The General Assembly, as representative of shareholders, consists of the following members:

• 1- His Excellency Hojatoleslam Akbar Hashemi Rafsanjani President of the Islamic Republic of Iran
• 2- H.E. Gholamreza Aqazadeh Minister of Oil
• 3- H.E. Masoud Roghani Zanjani Vice-President & Head of Planning and Budgeting Organization
• 4- H.E. Hussein Kamali Minister of Labor & Social Affairs
• 5- H.E. Hussein Mahluji Minister of Mines & Metals
• 6- H.E. Morteza Mohammad Khan
• 7- H.E. Mohammad Reza Nematzadeh Minister of Industries
• 8- H.E. Bijan Namdar Zanganeh Minister of Energy

The Board of Directors, being responsible for the operation of the company, is an eight- member body, comprised of the following:

• 1- His Excellency Aqazadeh Minister of Oil (Chairman)
• 2- H.E. Rahgozar Deputy Minister of Oil & NPC President
• 3- Mr. Abasszadeh Technical Director
• 4- Mr. Aghajani Finance Director
• 5- Mr. Bakhshian Administration & Training Director
• 6- Mr. Khosrowtaj Commerce Director
• 7- Mr. Moazzami Planning Director
• 8- Mr. Moazzami Acting Operations Director

1- Total Assets/End of 1993 2,727,356 Million Rials 2- Number of Employees/End of 1993 18,854 3- Investments in the First Five-Year Development Plan (1989-1994) Total 3,828,691 Million Rials Foreign Currency 2,572,246 Million Rials Local Currency 1,256,445 Million Rials 4- Investment in Development Projects 1,930,307 Million Rials (March 1993- March 1994) 5- Volume of Products (March 1993 - March 1994) Total 5.413 Million Tons Intermediate 1.290 Million Tons Final 4.123 Million Tons 6- Trade Volume of Domestic sales 2.071 Million Tons Value of Domestic sales 532,443 Million Rials Volume of Exports 1.953 Million Tons Value of Exports 185 Million Dollars

I- Companies in Charge of Operating Existing Plants & Complexes

II. Companies in Charge of Implementing Projects

1. Erection & Construction Company (ECC) 1989 2- Petrochemical Non-Basic Operations and Services Co. (NBOSC) 1989 3- Petrochemical Commercial Company(PCC) 1990 4- NPC Europe Limited 1991 5- Petrochemical Investment Company (PIC) 1993

These projects are still under construction where contractors for their implementation have already been selected and work is proceeding satisfactorily. Their physical progress ranges between 62.38% and 83.15%