A memorandum of understanding for technology supply, advanced basic engineering and project implementation as LEPCCF was signed between Lavan Chemical Company and Bam Dej Company.

According to the public relations report of Petrofarhang Holding, the vice chairman of the board of directors of Lavan Chemical Company announced on the sidelines of the second special exhibition of Eurasia about this memorandum: this agreement is in order to fulfill the wishes of the supreme leader regarding the prevention of crude sales and the goals of the development of downstream industries, preventing Crude sales and creation of added value for shareholders have been done. Hojatullah Esmaili, CEO of Lavan Chemical Company, said about this agreement:”Technology supply, license rights, process design, basic engineering, and implementation of the construction of the acetic acid factory using the LEPCCF method are among the parts that have been agreed upon in this memorandum.” Lavan Chemical Company, one of the priority projects of Petrofarhang Holding, has started its activity on a land of 24.8 hectares in the Pars Energy Special Economic Zone.After the operation of this project, the production of 200,000 tons of acetic acid in the first phase, 100,000 tons of vinyl acetate monomer, and 300,000 tons of synthetic ethanol will be produced in the second phase from methanol feed and synthesis gas available in the region.