Karoon Petrochemical Plant is Middle East's first producer of isocyanates.

Afshin Kiani said the plant launched its MDI unit in 2016 by relying on domestic capabilities after Swedish and Germany licencor abandoned the project out of fear of becoming subject to punishment by US for transacting with a sanctioned Iran.

The company can now supply 40,000 tons/year of 9 grades of MDI and is now supplying polymeric and pure MDI on domestic and international markets.

Iran consumes 20,000 tons of MDI annually which means the rest of the plants' output will be up for grabs by foreign consumers.