The Terminals and Petrochemical Storage Tanks Company was established in March 1999 as one of the subsidiary units of the National Petrochemical Company. The company’s activity is to undertake tasks related to the management of storage tanks in terminals and import / export ports inside and outside the country in order to store, export and import all chemical and petrochemical products and other products of petrochemical complexes and other real and legal entities inside and outside the country and implementing all industrial, commercial, technical, engineering and storing activities related to the said operations. Main activity of the company began in 2002 with its major activity in loading and unloading of products from jetties and storage of products in the Special Economic Zone in Imam Khomeini port and services related to loading and unloading products of the Group's companies at Pars petrochemical port in Assaluyeh.
According to Divesture Committee's Act in May 2014, the company's 100% stock consisting of 285 shares was privatized. On subsequent auction, Parsian Oil and Gas Company Development Group achieved 15.67% ownership of Terminals and Petrochemical Storage Tanks Company.