Engineering and Construction

Punj Lloyd

Industry
Engineering and Construction
Country
India
Sources

In 2014 Punj Lloyd was removed from Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement In Iran because the the involvement in Iran is in the past. 
 

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In 2011, Punj Lloyd was added to the Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement in Iran because of oil-related investment of US $20 million since 1996.

RITES Limited

Industry
Engineering & Construction
Country
India
Sources

"Financial sources needed for enforcing the deal, which amounts to $600 million, will be secured by India. An Indian state-run company named Rites is in charge of providing the locomotives to Iran. The MoU was signed during the three-day visit of Iran's Road and Urban Development Minister Abbas Akhoundi to India by Deputy Head of Iran Railway Company for Planning and Economy of Transportation Nourollah Beiranvand and Managing Director of State Locomotive Company Rajeev Mehrotra in New Delhi." (January 12, 2018)

China Civil Engineering Construction Corporation Ltd. (CCECC)

Industry
Engineering & Construction
Country
China
Sources

"China Civil Engineering Construction Corp announced on Tuesday it signed a rail contract worth 3.53 billion yuan ($543.6 million) with Iran. CCECC is a subsidiary of state-owned China Railway Construction Corp, a major construction group with business in more than 60 countries and regions, its website reported. The subsidiary signed the contract with Iran’s Construction & Development of Transportation Infrastructures Company to develop a 263-kilometer railroad, according to an announcement CRCC sent to the Shenzhen Stock Exchange on Tuesday, the Chinese daily." (January 4, 2018).

Aerotech Pro

Industry
Engineering and Construction
Country
France
Sources

Representatives of French firms were in Tehran for a three-day visit ending Wednesday to offer solutions in the fields of aerospace maintenance and airport infrastructure, and explore business opportunities in talks with major Iranian airlines, suppliers and MRO companies. The mission included representatives of firms active in maintenance, repair and operations, manufacture of parts and equipment, airport security, aeronautics and ground support equipment, namely Aerotech Pro, Dedienne Aerospace, Laselec, LOGYX, PGA Electronic, Reel, Techman Head and Toulouse Air Spares. The mission visited officials of Iran Air, Aseman Airlines, Civil Aviation Organization of Iran, Iranian Aviation and Space Association, and Payam Cargo Airport and Special Economic Zone. In a telephone interview with the Financial Tribune, Eric Le Devehat, sales manager at Techman-Head, said the aim of the visit was to “renew the relationship the company had with Iranian airlines before the sanctions”. (Financial Tribune, "French Aviation Firms Gauge Iran Opportunities," 12/10/2016).

Daewoo Engineering & Construction Co.

Industry
Engineering and Construction
Symbol
KRX: 047040
Country
South Korea
Sources

In 2020, the U.S. state of Mississippi listed Daewoo 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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In 2017, the U.S. states of  Iowa, Mississippi,  Rhode Island, South Carolina ,and  Tennessee, and listed Daewoo on its Iran scrutinized companies list rendering Daewoo ineligible for investment and/or state contracting.

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"Also in May 2016, South Korea's Daewoo Engineering and Construction Co. signed a preliminary $1.5 billion deal for a highway between Tehran and northern Iran. Iran's roads ministry and Bonyad Mostazafan, an Iranian foundation controlled by Khamenei, are partners in the Tehran Shomal Freeway Co. (TSFC), which is in charge of the project. A Daewoo official said the deal was preliminary and nothing had been discussed since May. A source familiar with TSFC affairs said the project is in the technical study phase and no final contract has been signed." (Reuters, "Post-Sanctions Deals with Iranian Firms Linked to Khamenei," 1/19/2017).

 

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"Daewoo Engineering & Construction Co., a major South Korean builder, announced on May 4 that it had meetings with officials at major Iranian contractors and won two tentative deals worth US$11.5 billion (13.29 trillion won) in Tehran on the 3rd to construct a petrochemical plant and road infrastructure. The company signed a memorandum of understanding (MOU) with Bahman Geno Co., a local energy company, to build a large refinery plant for about US$10 billion (11.56 trillion won) along with Hyundai Engineering & Construction... Bahman Geno issued a letter of intent to Hyundai E&C and Daewoo E&C in April for the engineering, procurement and construction (EPC) and financing deal and it will add local companies to carry forward the project according to the Iranian government regulations. Daewoo E&C also signed a MOU for Tehran Shomal Freeway Lot 3 construction." (Business Korea, “Daewoo E&C Signs US $11.5 Billion Worth of MOUs,” 5/5/2016)

SK E&C

Industry
Engineering and Construction
Country
South Korea
Sources

As of December 2020, Rhode Island continues to list SK E&C as having active investment in Iran's energy sector of at least greater than $20-50 million.

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Halted work on a $1.88 billion contract to upgrade an oil refinery in Tabriz. ("Sinopec persists with Iran refinery upgrade," Argus Media, September 20, 2018.)

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"South Korea’s SK Engineering & Construction said on Sunday it had signed a deal with Iran’s Tabriz Oil Refining Company worth $1.6 billion to renovate the Iranian company’s refinery facility. SK E&C said in a statement that the project involves upgrading Tabriz Oil Refining Company’s 110,000-barrels-per-day refinery, which opened in 1976 and is located in the northwest of Tehran." (August 6, 2017).

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"SK Engineering & Construction (E&C) has bagged a 4.1 trillion won ($3.6 billion) contract to build and operate new power plants in Iran. According to an SK E&C official, Sunday, the construction firm purchased a 30 percent stake in UNIT International, Turkey's energy giant. Under the deal, SK E&C is expected to participate in the Turkish firm's ongoing project to build and operate five new gas-fired power plants in Iran. SK E&C will build and operate five new power plants in five locations throughout the country, Iran's largest private energy project ever to produce a combined generation capacity of 5,000 megawatts. "The project is monumental," Land, Infrastructure and Transport Minister Kang Ho-in said." (Korean Times, "SK E&C Clinches 4.1 Trillion Won Project In Iran," 3/19/2017).

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"South Korea’s SK Engineering & Construction Co. has signed a contract to launch a feasibility study for a $20 million modernization project for Iran’s Parsian Oil & Gas Development Group Co. (POGD). Under the non-binding agreement, SK will first explore business prospects on the project of refurbishing facilities of Tabriz Oil Refining Co., an affiliate of POGD, in Tabriz, a northwestern city of Iran. The work includes upgrades to desulfurization equipment worth $20 million and other gasoline manufacturing facilities, said an official of the company. The study will take about six months." (Tehran Times, “SK Engineering tapped to renovate oil refining facility in Iran,” 6/5/2016)

Bilfinger

Industry
Engineering and Construction
Symbol
GR: GBF
Country
Germany
Sources

On November 13, 2020, Bilfinger SE was removed from the Iowa Public Employees' Retirement System Iran Prohibited Companies List. 

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As of August 15, 2019, Iowa's Municipal Fire & Police Retirement System lists Bilfinger SE on its Iran Scrutinized Companies List.

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"German engineering group Bilfinger said it did not plan to sign any new business in the country." (8/14/18).

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In a letter to CalPERs dated December 5, 2017, the company confirmed it is not engaged in the business activities targeted by California Public Divest from Iran Act.

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In 2017, the U.S. state of California listed Bilfinger SE on its state list of Companies under review for Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors.

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In July 2016 Bilfinger secured its first order in Iran. Bilfinger is delivering the entire process control system for the upgrade of one of Iran’s largest refineries.

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"Financing is the main hurdle facing companies looking at doing business in Iran, Bilfinger Chief Executive Thomas Blades said in German newspaper Handelsblatt and he also said it would take time for the country to regain investors' trust. "The biggest challenge that I currently see in Iran is the financing of projects," Blades said in an interview published on Thursday. Many Western banks have been reluctant to provide financing for big projects in Iran, fearing a regulatory backlash if there is a new setback in relations with the country. Blades said Bilfinger's response to Iran's "bring your own money" attitude was to focus on trying to win projects that run for only a few months rather than several years. The engineering services group won a contract worth several million euros in July to supply a process control system for the upgrade of one of Iran's largest refineries." (Reuters, "Bilfinger CEO says will take time for Iran to regain investors' trust," 12/8/2016).

"Financing is the main hurdle facing companies looking at doing business in Iran, Bilfinger Chief Executive Thomas Blades said in German newspaper Handelsblatt and he also said it would take time for the country to regain investors' trust. "The biggest challenge that I currently see in Iran is the financing of projects," Blades said in an interview published on Thursday. Many Western banks have been reluctant to provide financing for big projects in Iran, fearing a regulatory backlash if there is a new setback in relations with the country. Blades said Bilfinger's response to Iran's "bring your own money" attitude was to focus on trying to win projects that run for only a few months rather than several years. The engineering services group won a contract worth several million euros in July to supply a process control system for the upgrade of one of Iran's largest refineries." (Reuters, -- "Now that most of the economic sanctions against Iran have been lifted, the country has become an interesting partner for German industry. Bilfinger has now secured its first order there: one of Iran’s largest refineries is being upgraded and Bilfinger is delivering the entire process control system for the project. The system will be designed, built and programmed in Germany. Following testing and customer acceptance, it will be shipped to Iran. The order has a volume of several million euros, though the parties agreed not to disclose the exact amount. The contract was signed during a visit of the Iranian delegation to Bilfinger headquarters in Mannheim.'Our engineering services made in Germany are an international seal of quality. I am delighted that we will be able to contribute our quality and reliability to the ambitious project in Iran,' says Tom Blades, CEO at Bilfinger SE. 'Iran has a great deal of pent up demand when it comes to the modernization of its industrial facilities and Bilfinger can make a contribution here in cooperation with Iranian companies.'" (Bilfinger Press Release, "Bilfinger establishes foothold in Iran," 7/29/2016).

GEORG GmbH

Industry
Engineering and Construction
Country
Germany
Contact Information
Sources

"TESSAG INA Iran AG (former Klöckner INA Iran AG) is a 100% German-owned subsidiary [of GEORG GmbH], founded around 40 years ago... The main field of activities is industrial plants, machine tools, engineering and procurement, [and] consulatation in the following sectors: oil, gas and petrochemical, mines and metals, automotive, home appliance, [and] transportation." (Tessag Iran website, "Home"; GEORG website, "Agencies")

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GEORG's contact at Tessag Iran, Mr. Hermann Josef Konradi, is a board member of the German-Iranian Chamber of Commerce in Tehran. (German-Iranian Chamber of Commerce website, "Vorstand"; GEORG website, "Agencies")

VAHLE

Industry
Engineering and Construction
States
TX
Country
Germany
Contact Information
Sources

Vahle is featured extensively on Jobasin's website. Jobasin’s CEO, owner, and Managing Director is Alexander Jozak (a.k.a. Ali Jozak), a German- Iranian who was arrested late last year for illegally supplying equipment to Iran, including products used for Iran’s illegal ballistic missile program. According to a report in BILD titled “Hamburg entrepreneurs helped mullahs build bombs,” Jozak is believed to have “procured industrial equipment with his company and delivered it illegally to Iran through middlemen.”

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Vahle develops, manufactures and installs customized power and data transmission systems for various material handling applications, including port technology. VAHLE manufactures products required in the electrification of different crane types, including include trench systems, cable reels, festoon systems, conductor rails and data transmission systems. The company is active in 52 countries across Europe, Asia, Africa, Australia, and North and South America (Company Website). VAHLE’s company website lists “Voltpack Co. Ltd.” as its contact in Tehran, Iran. (VAHLE website, "Worldwide")