China Railway Group Limited

Transportation
SSE: 601390

As of August 15, 2019, the state of Iowa listed China Railway Group Ltd. on its Iran scrutinized companies list.

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In 2016, news reports indicated China Railway Group signed a $2 billion investment agreement, including the construction of a 350,000 ton smelter, a 500 megawatt power station and an anode project. In 2016, CalSTRS designated China Railway Group as “Under Review” for potentially having ties to Iran. In 2017, CalSTRS designated China Railway Group as “Being Monitored” and maintained that designation in 2018.

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In July 2017, Iran signed a contract with China Railway Group Limited, also known as CREC, to build this line. Although the contract was signed in 2015 with an estimated value of €1.8 billion, its scope and value are expected to expand.

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In 2017, the states of, Iowa listed China Railway Group on its Iran scrutinized companies list rendering China Railway Group ineligible for investment and/or state contracting.

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In 2017 California identified China Railway Group as potentially engaging in an investment venture including construction projects for power generation and smelting operations in Iran and is reviewing.