Pars Petrochemical Company was founded on February 21, 1999 (2 Esfand 1377 in the Persian calendar) under the name of Asaluyeh Petrochemical Company and started its effective activities with the establishment of a new board of directors on October 1, 1999 (10 Mehr 1378 in the Persian calendar). In an extraordinary meeting held on May 6, 2000 (17 Ordibehesht 1379 in the Persian calendar), the company's name was changed to Pars Petrochemical Company. This company is located in the Pars Energy Economic Special Zone, in Asaluyeh, which is in the north of the Persian Gulf. This zone is located 270 km southeast of Bushehr Port and 570 km west of Bandar Abbas. Its executive activities started in 1999 (1378 in the Persian calendar). The total amount of foreign investment is $720 million, and the total amount of domestic investment is IRR 2,835 billion. Pars Petrochemical Company also owns 50% of the shares of Arya Sasol Polymer Company. The company is comprised of three production units and one non-production unit.