The plant is to produce 2.4 million tons ethylene and will be based at Pars Special Economic Energy Zone in Assaluyeh. The Public Relations Department of the National Petrochemical Company reported that the projects contract is 960 million euros and was signed in June with a consortium comprising Irans Sazeh, Germanys Linde, and South Koreas Hyundai companies. The project consists of two big plants, which will be built at Pars Special Economic Energy Zone in 42 months and 38 months, respectively. The report added that each plant will produce 1.2 million tons ethylene per year and the value of the projects products has been estimated at more than 1.1 dollars per ton to total at about 3 billion dollars a year. Final production of the project will hit 2.4 million tons ethylene as well as 180,000 tons propane cut which will be used as feedstock by petrochemical plants which will be built along the west ethylene pipeline. Some 17.7 percent of the project I owned by the National Petrochemical Company, 49.8 percent by Bakhtar Petrochemical Company. Also, 32.5 percent of its stocks belong to Gachsaran Petrochemical Complex, Lorestan Petrochemical Complex, Kermanshah Polymer Company, Kordestan Petrochemical Complex and Mahabad Petrochemical Complex (each holding a 6.5-percent share). The project is also Irans biggest petrochemical contract in terms of value and will be built over 45 hectares at Pars Special Economic Energy Zone in Assaluyeh region by Kavian Company. The project is to be finished by 2008.