Steel

On June 30, 2020, the Mississippi Department of Finance & Administration identified Jindal Steel 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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In 2019 Jindal Steel was listed on the Texas Comptroller List of Companies Engaging in Scrutinized Business Operations in Iran.  

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In 2017 the U.S. state of Mississippi listed Jindal Steel & Power on its Iran prohibited companies list rendering Jindal ineligible for investment and/or state contracting.

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"Iranian trade negotiators have become more assertive with Indian counterparts as hopes rise of international sanctions on Tehran easing later this year, sources said, and Indian companies fear they may lose business as more countries bid for projects. The push back from the Iranians came as a surprise to India, which has enjoyed special dispensation from Tehran as one of only a handful of countries willing to do business with it while it faced Western economic sanctions. Under a tentative framework agreement reached between six major powers and Tehran in April, Iran agreed to limit its nuclear activity in return for sanctions relief. A final deal could be reached by June 30. That prospect appears to have emboldened Iran, said sources familiar with trade negotiations with India, including in its handling of a sizeable deal to import railway tracks. The $233 million contract, signed last October, was for India's State Trading Corp (STC) to facilitate exports of rail tracks from SAIL Ltd and Jindal Steel and Power Ltd to Iran's railways. But Iran told Indian negotiators that it had offers from other countries, including Turkey, to supply the equipment at a cheaper cost, the sources said." (Reuters, "With nuclear deal in sight, Iran drives harder bargain in Indian trade talks," 5/19/15)

"Kuwait Unisteel Rolling Mill Company - established with Iran's cooperation -started pilot production last week. The company was built in 21 months with an investment of €77 million, IRNA reported." (Zawya, "Iran-Kuwait steel company begins pilot production," 11/9/14)

"China National Machinery Industry Corp [CNMAC.UL], known as Sinomach, has signed a contract to build a 5.35 billion yuan ($845 million) railway in western Iran, adding to a wave of Chinese investment in the country. Sinomach will handle the engineering, procurement and construction work for the 410 km (255 mile) railway connecting the Iranian cities of Tehran, Hamedan and Sanandaj, the company said on its website on Monday." (March 20, 2018).

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 "A team of Chinese investors have voiced their willingness to invest in Iran's steel industry, a senior Iranian trade official announced on Tuesday... On Monday, Managing Director of Bank of Industry and Mine (BIM) Ali Ashraf Afkhami underlined that Iran's lucrative market and eye-catching economic opportunities have persuaded Chinese investors to try to increase their investments in the country's development projects. In a meeting between the head of a high-ranking Chinese delegation from National Machinery Industry Corporation (SINOMACH) and Afkhami, the two officials discussed ways for broadening of cooperation in various fields, mainly investment in Iran's projects by the Chinese side."(Fars, Chinese Firms Willing to Invest in Iran's Steel Industry, 6/17/14)

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On June 30th, CNEEC and Irania Ghadir Investment Company of the Islamic Republic of Iran signed an EPC contract for the Iran Lamerd 484MW Gas-fired Combined Cycle Power Plant Project. The Iran Lamerd 484MW Gas-fired Combined Cycle Power Plant Project is located to the north of the Lamerd City Airport in Fars Province in south Iran and has a total installed capacity of 484MW (2X162MW+160MW). The project is funded by buyer credits from Chinese banks and guaranteed by the national sovereignty of Iran...On the same day, CNEEC and the Tadbir Niro Parsian Company of Iran signed the cooperation agreement for the Gachsaran City 500MW Gas-fired Combined Cycle EPC Contracting Project. This project is the second gas turbine power plant EPC project awarded to CNEEC in Iran, after the Zanjan Gas Turbine Project, and has been finally approved by the owner, with strong support from the company principals and the efforts of employees under the 10th Engineering Department. The signing of the contract indicates that CNEEC has realized rotating development in the Iran market and will realize greater success in the Iran and the nearby markets. (SINOMACH, CNEEC Secures Contract for Iran Lamerd 484MW Gas-fired Combined Cycle Power Plant Project, 7/5/12)

"Iranian trade negotiators have become more assertive with Indian counterparts as hopes rise of international sanctions on Tehran easing later this year, sources said, and Indian companies fear they may lose business as more countries bid for projects. The push back from the Iranians came as a surprise to India, which has enjoyed special dispensation from Tehran as one of only a handful of countries willing to do business with it while it faced Western economic sanctions. Under a tentative framework agreement reached between six major powers and Tehran in April, Iran agreed to limit its nuclear activity in return for sanctions relief. A final deal could be reached by June 30. That prospect appears to have emboldened Iran, said sources familiar with trade negotiations with India, including in its handling of a sizeable deal to import railway tracks. The $233 million contract, signed last October, was for India's State Trading Corp (STC) to facilitate exports of rail tracks from SAIL Ltd and Jindal Steel and Power Ltd to Iran's railways. But Iran told Indian negotiators that it had offers from other countries, including Turkey, to supply the equipment at a cheaper cost, the sources said." (Reuters, "With nuclear deal in sight, Iran drives harder bargain in Indian trade talks," 5/19/15)

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“Abbas Nazari, director of international affairs at the Iranian Railways Company, said officials of India's STC will come to Iran next week to pave the way for selling 200,000 tons of rail tracks, Iran's Tasnim news agency reported on April 28. On April 20, the Indian Express reported that with the Western nations easing sanctions on Iran, India's biggest steel maker SAIL is all set to sign a definitive agreement to help Tehran set up a railway network project spanning over 15,000 km to connect its major ports and key production centers…Last year, Washington had eased sanctions on Iran, which has enabled Indian companies to explore investment options. The Indian commerce ministry officials had in December last year, met the top brass of SAIL, BHEL and railway infrastructure builder IRCON to consider investing in Iran.” (Trend “Iran plans to import 200,000 tons of rail tracks from India,” 4/28/14)

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“With the Western nations easing sanctions on Iran, the country’s biggest steel maker SAIL is all set to sign a definitive agreement to supply steel worth nearly Rs 15,000 crore to help Tehran set up a railway network project spanning over 15,000 km to connect its major ports and key production centres…When contacted, SAIL chairman C S Verma said after several rounds of discussions with the commerce ministry and STC, SAIL has expressed its readiness in supplying 3 MT rail steel. ‘We are supplying rails to Indian Railways since many years. Our director commercial Vinod Kumar would accompany Khaleel Rahim to help him finalise the modalities,’ Verma said. SAIL’s Bhilai steel plant is the sole supplier of the country’s longest rail tracks of 260 metres. With an annual production capacity of 3.15 MT of saleable steel, the plant also specialises in other products such as wire rods and merchant products.” (The Indian Express, “SAIL to ink pact with Iran for supplying railway tracks,” 4/20/14)

“Iranian and Italian companies have agreed on the construction of a steel mill with the annual production capacity of 1 million ton in the Southeastern city of Sirjan, a senior industry official announced on Saturday. The agreement was reached between the MMTE Engineering and Construction Company and the Italian Tenoa Company, Managing-Director of the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) Mehdi Karbasiyan said. Karbasiyan stressed that the Sirjan steel plant will be inaugurated by March 2015, and said, ‘About 500 people are currently working in the factory and after the inauguration of its steel manufacturing section more than 1,500 new job opportunities will be created.’ MMTE Engineering and Construction Company is one of the first Iranian engineering, procurement and construction (EPC) contractors in the steel industry specializing in management, engineering, procurement and construction of direct reduction, pelletizing and steel making plants. The World Steel Association (WSA) recently declared ‘Iran as the largest steel producer in the Middle-East and North Africa.’” (Fars, “Italian Company to Invest in Iran's Steel Industry,” 10/12/13)

"German steel plant maker SMS Group signed a $400 million deal in February last year to expand capacity of an Iranian steel plant. However, it has put its plans on ice and is wrapping up its business in the country." (5/24/2018).

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"During a two-day visit to Tehran the German economy ministry said several firms from the Mittelstand, the small-to-medium-sized companies that form the backbone of the economy, had also signed deals with Iranian partners. These included SMS group, a builder of steelmaking plants, and INTRA industrial solutions." (Reuters, "Siemens signs Iran rail contract as Germany drums up business," 10/3/2016). 

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“As economic sanctions eased last month under a temporary accord, Iran is shaping up as a hot, untapped opportunity for Western steel exporters, particularly high-grade varieties…About 45 producers sent representatives to a steel conference last month in Tehran to study export opportunities and investing in Iran’s domestic industry, Karbasian said. More than 10 steelmakers contacted by Bloomberg declined to comment or said they hadn’t attended the event…Germany’s SMS Siemag gave addresses at the steel event in Tehran, Karbasian said…A spokesman for SMS, which sells equipment to the steel industry, said it attended the conference to rebuild relationships in the country. The company, which has done business in Iran for more than 25 years, said while it’s products were not covered by sanctions it had halted trade as its customers struggled to access finance for deals.” (Bloomberg, “Iran Thaw Seen Re-Stoking $6 Billion Market for Steel,” 3/12/14)

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“The German SMS Siemag company is ready for investment in Iranian steel projects, president and CEO of SMS Siemag, Burkhard Dahmen said, Tasnim news agency reported on Dec. 4. Dahmen made the remarks during a meeting with head of the Iranian Mines & Mining Industries Development and Renovation Organization (IMIDRO), Mahdi Karbasian in Tehran. Dahmen underlined that the EU policy towards boosting relations with Iran is a new opportunity which should not be lost. During the meeting two sides agreed that SMS Siemag to involve in joint venture with other international steel companies in Iranian steel projects. SMS Siemag has earlier participated in some steel projects in Iran including the Hormozgan and Mobarakeh steel plants.” (Trend, “German company ready to invest in Iranian steel projects," 12/6/13)

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In 2006, SMS Siemag, then called SMS Demag, helped to build a “turnkey iron and steel plant in the Iranian province of Hormozgan, not far from the provincial capital of Bandar Abbas, [Iran].” (Press Relase, "SMS Demag AG builds an iron and steel plant on the Persian Gulf,” 6/21/06)

"Russia's NLMK sees ‘no opportunities’ in Iran despite lifting of sanctions. Russia’s largest steelmaker, Novolipetsk Steel (NLMK), has said it sees no significant opportunities for steel product sales in Iran, despite the lifting of international sanctions." (2016)

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A 2009 NLMK report states that Iran is one of the “leading importers of [NLMK] products…in the Middle East.”

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NLKM Group holds three US "Group" Members: NLKM Pennsylvenia, NLKM Indiana, and  NLMK Sharon Coating.

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“As economic sanctions eased last month under a temporary accord, Iran is shaping up as a hot, untapped opportunity for Western steel exporters, particularly high-grade varieties. ArcelorMittal (MT) and Russia’s OAO Novolipetsk Steel have mills in central Asia that supplied Iran before sanctions in 2007, when it imported 12.2 million tons a year of the metal, valued at $6 billion today. Other steelmakers are quietly testing the waters…About 45 producers sent representatives to a steel conference last month in Tehran to study export opportunities and investing in Iran’s domestic industry, Karbasian said. More than 10 steelmakers contacted by Bloomberg declined to comment or said they hadn’t attended the event…Russian producers including Novolipetsk say geographical and infrastructure links with Iran will create opportunities for them too…’It’s a big market for steel,” said Oleg Bagrin, chief executive officer of Novolipetsk, which used to export to Iran. “We could go back if sanctions are lifted.’” (Bloomberg, “Iran Thaw Seen Re-Stoking $6 Billion Market for Steel,” 3/12/14)

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

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As of March 9, 2021, China Nonferrous remained on the Florida SBA List of Continued Examination Companies with Petroleum Energy Activities in Iran. 

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In 2020, the U.S. state of Mississippi listed China Nonferrous 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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As of August 15, 2019, the state of Iowa listed China Nonferrous Metal on its Iran scrutinized companies list.

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China Nonferrous Metal Industry's Foreign Engineering & Construction is listed on the June 2019 Alaska Retirement Management Board, Companies Doing Material Business with Iran list.

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China Nonferrous Metal Industry's Foreign Engineering & Construction is listed on the March 2019 Alaska Retirement Management Board, Companies Doing Material Business with Iran list.

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In 2017 the U.S. states of Alaska, Florida, and Iowa,  listed China Nonferrous Metal Mining on its Iran scrutinized companies list rendering China Nonferrous Metal Mining ineligible for investment and/or state contracting.

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Oct 2017 - “South Aluminum Company or Salco is building a 300,000-ton/year unit in Asaluyeh, a natural gas hub in Bushehr Province, which is expected to start production in late 2018,” he said. That project is financed by China’s NFC, or China Nonferrous Metal Industry’s Foreign Engineering and Construction Company.”

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"A unit of state-owned metals giant China Nonferrous Metal Mining Group said in a statement Wednesday it will provide engineering design, equipment supply and installation, construction and training services for the Iran Butia steel plant... China Nonferrous' Shenzhen-listed engineering and construction arm— China Nonferrous Metal Industry's Foreign Engineering & Construction Co.—will handle the work... China Nonferrous' unit has several other projects in Iran, mostly assisting Iranian companies building factories producing aluminum, alumina and ferroalloys. China Nonferrous didn't respond to a call for comment Wednesday... The China Nonferrous deal might not trigger strong protests from the U.S. given the relatively small scale, and steel's less strategic role compared with crude oil." (The Wall Street Journal, "China Signs Steel Deal in Iran," 1/16/2013)