Finance Master's essay example

Five large plants projects for increasing petrochemical industry were inaugurated in 1995 according to the second plan for five years (WWP, 2006). These plants were given preference over other projects on the basis of their productivity and forthcoming effectiveness. The plan was followed likewise. The facilities that were needed for these project plants were only possible with the governmental investment of nearly two billion dollars (Ule and Alexander, 2004). These projects were started by National Petrochemical Company, which is a governmental company.

The projects were inaugurated to produce or develop a total of five hundred thousand tonnes per year of unleaded fuel like gasoline. These plants were also known as Methyl Tertiary Butyl Ether Plants (MTBE Plants). These plants were located in the southern part of Iran (Petrochemical Industry and Market of Iran, 2005). This capacity of production increased each year with the plants’ performance. The petrochemical plants created in areas such as Bandar Imam and Kharg Island increased the capacity of production from five hundred and thirty thousand tonnes per year to six hundred thousand tonnes. Olefin units, methanol units and plastic projects all were commenced in the areas of Bandar Imam and Kharg Island (Nasseri and Daya, 2007).

The year, 1995, saw the inauguration of many projects and due to the plan developed for five years in 1995; there were many enhancements and developments in the industry of petrochemicals. Many complexes started their functioning in that year (Petrochemical Industry and Market of Iran, 2005). The fertilizer complex located at Khorsssan and petrochemical complex located at Tabriz were operative in 1995 (Ule and Alexander, 2004). Therefore, the year, 1995, can be called as the year of proceeding towards success or new era for petrochemical industry (Nasseri and Daya, 2007).