Engineering

Welding Engineers Ltd.

Industry
Engineering
Country
Switzerland
Sources

"Iran inked the first post-sanctions petrochemical contract with a Swiss firm for construction of finishing unit of a petrochemical company in Assaluyeh. Swiss Welding Engineers Ltd inked a contract with Sadaf Petrochemical Assaluyeh Company to construct finishing area of the project. This is the first contract signed between an Iranian company and its foreign partner in the petrochemical sector in the post-sanctions era. The two companies signed the contracts after very difficult negotiations on Saturday evening. Managing Director of Sadaf Petrochemical Assaluyeh Company Ahmad Jazayeri said the Swiss company will help his company to build a plant for production of the synthetic polymer ESBR, a strategic product used in the petrochemical industry and rubber manufacturing. He said that the ESBR will be produced for both domestic use and export to global market including Europe. The Italy's Versalis and Maire Tecnimont as the major company which is helping to build the plant, confirmed the Swiss Welding Engineers Ltd for design, construction and startup of the finishing area of the project, the official added... The technology license for production has been obtained from Italy's Versalis and Maire Tecnimont whose know-how is regarded among the world's advanced.” (SHAM, “Iran Inks 1st Post-Sanctions Petchem Contract with Switzerland,” 6/12/2016)

SCHMID Group

Industry
Engineering
Country
Germany
Sources

"As excitement builds around the potential PV market in Iran, German consultancy company Planet in Green agreed a 20 year power purchase agreement for a large-scale PV plant near to Tehran. Iran is opening up to outside investment and the PV market wants to take full advantage of this. European PV companies seem to be the ones taking the first steps in the country, which has huge solar resources and a need for extra power... Some of the most recent exciting developments include Italian companies agreeing to build 1 GW of solar farms in the country, and German SCHMID Group agreeing with the Industrial Development & Renovation Organization of Iran (IDRO) to develop a state of the art PV manufacturing facility in the country." (PV Magazine, “German company signs PPA for 100 MW solar plant in Iran,” 6/14/2016)

Sinopec Engineering

Industry
Engineering
Symbol
HKG: 2386
Country
China
Sources

As of May 17, 2021, Iowa's Public Employee's Retirement System lists Sinopec Engineering on its Iran Scrutinized Companies List.

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As of December 2020, Rhode Island continues to list Sinopec Engineering as having active investment in Iran's energy sector of at least greater than $50 million.

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In January 2020, Sinopec Engineering was added to the Pennsylvania Treasury's List of Scrutinized Companies for new involvement in Iran identified in 2020. 

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Sinopec Engineering is listed as a prohibited company in the March 2020 and March 2021 Report to the New Jersey Legislature Iran Divestment Act. 

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Sinopec Engineering is listed on the 4Q 2020 Minnesota State Board of Investment List of Unauthorized (Scrutinized) Iran Companies.

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On March 18, 2014, Sinopec Engineering was added to the Florida State Board of Administration List of Prohibited Investments (Scrutinized Companies) due to its involvement in Iran. As of March 9, 2021, Sinopec Engineering remains on the SBA list of prohibited investments. 

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In 2020, the U.S. state of Mississippi listed Sinopec Engineering on its state lists of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering it ineligible for investment and/or state contracting.

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On June 1, 2020, the Ohio Police & Fire Pension Fund (“OP&F”) listed SEG on its scrutinized companies Iran/Sudan list.

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As of May 28, 2020, the Florida State Board of Administration (“SBA”) continues to list SEG on its list of “Scrutinized companies with Activities in the Iran Petroleum Energy Sector.

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On May 15, 2020, the IPERS identified SEG on its Iran Prohibited Companies List.   

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On January 20, 2020, Minnesota SBI listed SEG as a scrutinized investment. The managers are explicitly instructed to refrain from purchasing securities on this list. ied SEG on its Iran Prohibited Companies List.   

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As of March 2, 2020, SEG is included as a company on the prohibited list report to the New Jersey Legislature

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As of December 31, 2019, the Alaska Retirement Management Board lists SEG as a company doing material business with Iran.  

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In 2019 Sinopec Engineering was listed on the Texas Comptroller List of Companies Engaging in Scrutinized Business Operations in Iran.  

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Sinopec Engineering is listed on the June 4, 2019 and July 12, 2019 Florida State Board of Administration list of prohibited investments (Scrutinized companies) for Iran related business.

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Sinopec Engineering is listed on the June 2019 Alaska Retirement Management Board, Companies Doing Material Business with Iran list.

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On March 13, 2019, the Mississippi Department of Finance & Administration identified SEG as a company “engaged in investment activities in Iran, providing funds, goods or services valued at $20,000,000 or more in the energy sector of Iran.” 

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Sinopec Engineering is listed in the March 1, 2019, Report to the New Jersey Legislature Iran Divestment Act. 

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Sinopec Engineering is listed on the March 2019 Alaska Retirement Management Board, Companies Doing Material Business with Iran list.

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"International oil services companies are scrambling to win contracts worth tens of billions to repair and modernize Iran's oil refineries once sanctions are removed, with officials even laying on bus tours for visiting foreign executives. Officials from Iran's oil refining company NIORDC, its National Petrochemical Company and the privately owned Persian Oil and Gas are holding talks with services firms to clinch projects to repair Iran's derelict refining and petrochemical sector... Oil services companies that had been active in building refineries in Iran prior to the sanctions, including Australia’s WorleyParsons, France’s Technip and Axens, South Korea's Daelim and China's Sinopec Engineering were all interested in resuming business in the country, the sources said. The companies declined to discuss whether they are meeting in Iran." (Reuters, “Foreign firms scramble to fix Iran's refineries once sanctions end,” 8/17/2015)

AutoForm

Industry
Engineering
Country
Switzerland
Sources

AutoForm attended the 4th International Iran Aluminium Conference (the “Conference”) on May 11-12, 2016 in Tehran.  (Iran International Aluminium Conference Website, “List of International Attendees;” 10times Website, “Iran International Aluminium Conference”).  According to its official website, the Conference was co-convened by the Iran Mines and Mining Development and Renovation Organization (“IMIDRO”) to bring together “industry front runners including producers, manufacturers and processors of raw materials to end products as well as suppliers of technologies and accessories for aluminium production, processing and refinement.”  (Iran International Aluminium Conference Website, “Conference Overview”).  

AZO

Industry
Engineering
Country
Germany
Sources
  • AZO lists an office in Tehran, Iran through Kama Trade Co. (Company Website, "AZO Worldwide").
  • AZO GmbH + Co KG (“AZO”) is listed as an exhibitor at the International Exhibition of Plastics, Rubber, Machinery & Equipment (“IRANPLAST”), that took place on September 24-27 in Tehran, Iran. (IRANPLAST Website, “Exhibitors and Products”).
  • AZO is listed as a company participating as part of the German delegation visiting Iran September 27-28, 2016. (Participating Companies)

Mitsubishi Heavy

Industry
Engineering
Symbol
TYO: 7011
Country
Japan
Sources

"The European Union has banned Iran's Aseman Airlines from operating within the EU due to safety concerns, in a blow to Tehran which is buying new jets to renew the country's ageing fleet following the lifting of long-term sanctions… Aseman Airlines was reported in August to be buying 20 regional jets from Japan's Mitsubishi Heavy Industries for use on domestic routes." (Reuters, "EU bans Iran's Aseman Airlines from flying in Europe," 12/8/2016).

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"Iran intends to purchase 20 regional jets from a unit of Japan's Mitsubishi Heavy Industries... [An Iranian deputy cabinet minister said] that the deal was likely to be finalised when a Japanese delegation visits Tehran in December." (Reuters, "Iran plans to buy 20 regional jets from Japan's Mitsubishi Heavy," 8/8/2016)

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"The unit of Mitsubishi Heavy Industries began market surveys into Iran last September, four months before the U.S. lifted sanctions. The Japanese company has been touching base with flag carrier Iran Air and Iran Aseman Airlines, as well as the country's aviation authorities. Mitsubishi Aircraft and the Iranian carriers are discussing purchase orders during the Farnborough Air Show, which kicked off on Monday in the London suburb." (Asian Review, "Mitsubishi Regional Jet may take off in Iran" 7/12/2016) --

Hyundai Engineering Co.

Industry
Engineering
Country
South Korea
Sources

As of December 2020, Rhode Island continues to list Hyundai Engineering as an Iran scrutinized company for active involvement of at least $50 million in Iran's energy sector. The company lists the Kangan Petro Refining Complex - Phase II Project in Iran as an active project (Company website, 09/2019). 

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"Iran's Kerman Motors and South Korea's Hyundai automaker signed a memorandum of understanding (MoU) on Tuesday to jointly produce a car model in Iran, semiofficial Fars news agency reported. The MoU to manufacture a new Elantra model was signed between CEO of Kerman Motors, Saman Firouzi, and director of South Korea's Hyundai Motors for Middle East and Africa Office, Mike Song, in Iran's southern Kerman city." (March 14, 2017).

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South Korea's Hyundai Engineering Co. (HEC) signed an agreement on Sunday for financing and constructing the second phase of Kangan Petro Refining Complex -- a major petrochemical and refinery project in southern Bushehr Province. (March 13, 2017).

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An Iranian investment fund signed a deal with Korea's Hyundai Engineering Co on Sunday for a 3 billion euro ($3.2 billion) petrochemical project, which is awaiting financing by Korean banks, the oil ministry's website SHANA said. A subsidiary of the Oil Pension Fund Investment Company signed the agreement which covers the construction of the second phase of the Kangan Petro Refining Company, SHANA reported. "The financing of this project will be finalised within nine months at the rate of 95 percent ... by South Korean banks," said Asghar Arefi, the Iranian official who signed the accord, according to SHANA. Arefi said the first phase of the Kangan project was 30 percent completed with an investment of nearly 120 million euros. Despite the lifting of international sanctions against Iran in January 2016, Iranian officials have complained that remaining U.S. sanctions have frightened away trade partners and robbed Iran of the benefits it was promised under its 2015 nuclear deal with world powers.(Reuters, "Korea's Hyundai Engineering In $3.2 Billion Iran Deal Awaiting Funding,"  3/12/2017).

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"An official has announced that seven new power plants will be constructed inside the country by Russian and South Korean companies. Mohsen Tarztalab, the General Manager of Iran's Thermal Power Plant Holding (TPPH), described signing of new contracts for designing and construction of new power stations in collaboration with foreign investors during the post-JCPOA era saying 'a Memorandum of Understanding (MoU) has been recently inked with Russian contractor Technoprom energy firm for building a 1400MW power plant in the southern Iranian port city of Bandar Abbas.' ... Moreover, South Korea's Hyundai Engineering Company (HEC) and Korea Electric Power Corp (KEPCO) have signed agreements with Iran over joint construction of three other power generating plants in Zanjan, Qom and Bafgh cities. (Mehr, "Foreign firms to build power houses in Iran," 08/28/2016)

SKF

Industry
Engineering
Symbol
STO: SKFB
States
PA
Country
Sweden
Sources

"The company was reported as potentially providing bearing and lubrication products in Iran. In 2018 CalPERS designated the company as under review. In 2019 CalPERS changed the designation to “being monitored” because CalPERS’ initial screening has not identified the company as having involvement in the regions and/or activities targeted by the Act. CalPERS has maintained the company in “monitor” status for 2020. CalPERS continues to monitor the company for possible changes in status relevant to the Act."

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In 2017, CalSTRS designated SKF AB as “Under Review” for reportedly providing bearing and lubrication products to Iran CalSTRS maintained the “Under Review” designation in 2018.

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Lists SKF Eurotrade AB - Iran on its company website as its location in Iran.

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“'Iran is a country with both car and oil industries, and a lot of other industrial sectors as well,' said Alrik Danielson, head of SKF, the ball bearings giant. 'If all sanctions and obstacles to business disappear, it will naturally be a positive development for us.'" (The Local, "Swedish CEOs see big Potential in Iran," 7/19/15)