Aryasasol Polymer Company is a $900-million polymer

Polymer

A polymer is a large molecule composed of repeating structural units. These subunits are typically connected by covalent chemical bonds...

 joint venture

Joint venture

A joint venture is a business agreement in which parties agree to develop, for a finite time, a new entity and new assets by contributing equity. They exercise control over the enterprise and consequently share revenues, expenses and assets...

 between the Iranian state-owned petrochemicals company

National Iranian Petrochemical Company

The National Iranian Petrochemical Company , a subsidiary to the Iranian Petroleum Ministry, is owned by the government of the Islamic Republic of Iran. It is responsible for the development and operation of the country's petrochemical sector. Founded in 1964, NIPC began its activities by operating...

, Pars Petrochemicals Company

National Iranian Petrochemical Company

The National Iranian Petrochemical Company , a subsidiary to the Iranian Petroleum Ministry, is owned by the government of the Islamic Republic of Iran. It is responsible for the development and operation of the country's petrochemical sector. Founded in 1964, NIPC began its activities by operating...

 and Sasol Polymers

Sasol

Sasol Ltd. is a South African company involved in mining, energy, chemicals and synfuels. In particular, they produce petrol and diesel profitably from coal and natural gas using Fischer-Tropsch process...

 which produces ethylene as well as high and low density polyethylene. Iran

Iran

Iran , officially the Islamic Republic of Iran , is a country in Southern and Western Asia. The name "Iran" has been in use natively since the Sassanian era and came into use internationally in 1935, before which the country was known to the Western world as Persia...

 and South Africa

South Africa

The Republic of South Africa is a country in southern Africa. Located at the southern tip of Africa, it is divided into nine provinces, with of coastline on the Atlantic and Indian oceans...

 have equally invested 1.35 billion euros in the project. Arya Sasol Petrochemical Complex is among the world’s biggest polymer projects.

Scale of Business

This complex is capable of producing 400,000 tons of ethylene, 90,000 tons of C3 cut, 300,000 tons of medium and heavy polyethylene, and 300,000 tons of light polyethylene. Construction operations of the complex started in Pars Special Economic Energy Zone in 2002 and the project started producing ethylene in February 2009.