One of the models for the development of downstream oil and gas industries is the integration of petrochemical and refinery. This study at first present a financial valuation of construction a Integrated Petrochemicals Complex unit with an aromatic unit then investigate the effect of protection policies on the financial indexs. The results show the significant effect of protection policies based on tax and feedstocks reduction but the effect of feedstocks reduction policies is more than another one.A review of tax-based policies shows that the sensitivity of the internal rate of return to increasing tax holiday is low but to tax rates is high. The effect of feedstocks support policy has been studied in two ways: payment facilities at a percent of feedstocks and payment at a fixed amount, such as the amount of total expenditure cost. The results show that both methods have a significant effect on intenral rate of return. Considered that the payment of facilities at a fixed rate will be highly dependent on the feed price and will be easily affected by fluctuations in oil prices.
