Arvand Petrochemical Co.

پتروشیمی اروند

Mahshahr special zone. Iran’s only full salt → chlorine → EDC/VCM → PVC chain, and the dominant domestic caustic-soda supplier (~80–90% of the market, ~50% of PVC). About 108 hectares, ~2.8 Mt/y nameplate. Listed late 2025 as اروند (TSE 627th listing). Sanctioned.

Short: Arvand
Ticker: اروند
Founded: 2000
Area: 108 ha
Nameplate: 2.8 Mt/y
PGPIC: 70%
Site: PSEEZ Site 3, Mahshahr

PRODUCTS

Chlorine · Caustic soda · EDC · VCM · S-PVC · E-PVC · HCl · Bleach

LINES

Product	kt	Feed	Licensor
Chlorine	585	Salt + DM water	Uhde
Caustic soda (100%)	660	Salt + DM water	Uhde
EDC (direct chlorination)	548	Cl2 + ethylene	Vinnolit
EDC (oxychlorination)	342	HCl + O2 + ethylene	Vinnolit
VCM	343	EDC	Vinnolit
S-PVC	300	VCM	Vinnolit
E-PVC	40	VCM	Vinnolit

FEED

Ethylene 252 kt — West ethylene pipeline
Salt 1,300 kt — Internal / Gulf salt
HCl 50 kt — Karun
DM water 1,400 kt — Fajr Energy

OWNERSHIP

PGPIC 70% — Controlling stake after 5% IPO (was ~79% on company site pre-IPO)
Nouri 20% — Pre-IPO disclosed stake
Parsian 1%

ANALYST NOTES

Site 3, Petrochemical Special Economic Zone, Bandar Imam Khomeini.
IPO 24 Dec 2025: 600 million shares (5%) via book-building, symbol ARVAND / اروند, base 35,377 rials.
Karimi is the public face of Arvand 2 — extra ~300 kt PVC, cited ~$509 million. Replacement value of the complex cited ~$1.3 billion at the IPO roadshow.
Supplies chlorine into the Mahshahr chlor-alkali web: Ghadir, Khuzestan, Karun, Bandar Imam.
The Jan 2026 CEO swap to Mosaddeghi-Fard and the Sept 2026 swap-back to Karimi is typical PGPIC personnel politics, not a change in the plant’s product mix.

PEOPLE

EVENTS

2019-06-07OFAC designates PGPIC and 39 subsidiaries
2025-12-24Arvand lists as اروند / ARVAND
2026-01Mosaddeghi-Fard briefly takes Arvand
2026-09Ali-Askari restored; Karimi and Ansari-Nik decreed

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