Construction

Atlas

Industry
Construction
States
FL
NJ
Country
Germany
Contact Information
Sources

ATLAS was represented at the Iran RailExpo 2016 - 4th International Exhibition of Rail Transportation, Related Industries & Equipment. (Atlas Website, “Gallery – Atlas GMBH”). The exhibition, held in Tehran from May 15-18, 2016, was supported by the Iranian Ministry of Roads & Urban Development, the Iranian Ministry of Industry, Mine & Trade, the Islamic Republic of Iran Railways (RAI), the Iran Rail Industry Association, and the RTC Guild. (Iran Rail Expo Website, “IRAN RailEXPO 2016”).

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Atlas Maschinen GmbH is a German crane manufacturer. (Atlas Website)

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Hydro Atlas is an Iranian construction equipment company created in participation with Atlas of Germany. The comany manufactures lifting equipment and cranes in Iran. They state they are the first crane producer in the Middle East. (Hydro Atlas Website, "About Us")

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“Not long ago, we received a press release that caught our eye — this is not a common occurrence — and was distributed by an NGO called United Against Nuclear Iran (UANI). Based in New York and headed by former US Ambassador to the United Nations Mark D. Wallace, UANI had photos of alleged criminals being hanged in front of spectators in the Iranian cities of Qaem Shahr and Babol. However, the condemned weren't hanging from traditional gallows. They were hanging from construction cranes that had one word painted on them: Atlas. As in, German heavy-equipment manufacturer Atlas Maschinen GmbH, with whom UANI was clearly upset. Wallace had written a 2011 Los Angeles Times op-ed in which he described his organization's goal of persuading crane manufacturers to stop doing business in Iran as long as the regime expressed such fondness for hanging people from those cranes. Argue all you want about whether or not that's an effective strategy — there are, after all, many other tall things in Iran from which to hang people — but we were curious what it's like to manufacture cranes and then find out from a pissed-off NGO that they're being used for executions.

So we called Fil Filipov, the chairman of Atlas. He was born in Communist Bulgaria in 1946, fled to the US when he was 17, and proceeded to have an extremely successful career in the construction equipment manufacturing industry — you can learn more about Filipov at his website, Filosophies.com. He told us he was unaware of UANI's claims. ‘I have no idea if what they say is right or wrong, and I have no plans to respond,’ Filipov told VICE News. ‘I don't give a damn what they write.’ During the course of our conversation, Filipov said Atlas does business in 58 countries, but he denied doing business in Iran. He insisted multiple times, ‘I don’t sell to that country.’ But that didn't explain Hydro-Atlas, the company in Tehran that describes itself as the ‘official representative of Atlas GmbH in Iran … initiated in 1976 with the participation and partnership of the German company Atlas.’ We asked Filipov about that. ‘I cannot stop anybody from using the Atlas name — you can use it yourself if you want,’ he said. ‘In Western Europe, there are probably 30 dealers called Atlas: Atlas Hanover, Atlas Stuttgart, all unrelated to the real Atlas.’ Filipov maintains his company is ‘fully in compliance with all regulations and trade agreements,’ which as far as we can tell, it is. Atlas is a German company, and selling cranes in Iran is not prohibited under any existing UN or EU sanctions. In fact, more than 100 German companies are currently doing business in Iran, and the rest of Europe is equally well-represented…

According to UANI, its campaign has persuaded five large crane manufacturers to pull out of the Iranian market: Konecranes of Finland, UNIC and Tadano of Japan, Germany’s Liebherr, and most notably Connecticut’s Terex. Notable because the company's presidents have included both Filipov and his son Steve, and because the company claimed in 2011 that UANI didn't persuade them to stop doing business in Iran because they'd already stopped doing business in Iran. We asked UANI spokesman Nathan Carleton what he expects from Atlas. ‘Look, we’re not saying that Fil Filipov is personally hanging people from cranes or that he condones the regime’s actions,’ Carleton said. ‘All we know is that people are being hung from Atlas cranes, and there are dealerships in Iran calling themselves Atlas crane.’ Carleton argued that the photos of the executions that UANI spotted 'are the smoking gun' that should persuade Atlas to act. Not surprisingly, Filipov disagreed. ‘With the Internet and the way we’re living today, people are free to put my picture next to somebody and say anything,’ he said. ‘It could be a Photoshop thing.’ This was getting us nowhere. So we decided to call Hydro-Atlas in Tehran. ‘We import parts from Germany under license from Atlas,’ a sales rep told us in Farsi, ‘and we assemble them in our factory in Iran’…Despite what Filipov said, Atlas clearly has an arrangement with a dealer in Iran — but that's not illegal. And while Filipov was kind enough to offer us the use of the Atlas name, we're sure he wouldn't allow a company to call itself Atlas without actually selling Atlas cranes. So while he was somewhat less than straightforward about Atlas's dealings in Iran, that doesn't mean Atlas has any obligation to act…We asked Filipov. ‘What can one do?’ he said. ‘The world is full of assholes.’” (Vice, “What Happens When Iran Uses Construction Equipment to Kill People,” 3/16/14)

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“A German crane manufacturer has denied selling its wares to Iran, which were subsequently used in public hangings. Human rights groups have lambasted construction company Atlas in recent weeks after pictures appeared on the Internet purportedly showing executions using the company’s products. Advocacy group United Against Nuclear Iran (UANI) called on chairman Fil Filipov to end the supply of cranes to the Middle Eastern state, however Filipov told the Washington Beacon on Thursday, ‘We do not ship any cranes to this country,’ adding that he had ‘no idea’ how the products ended up in Tehran. Filipov said via email: ‘We are not the police … we make over 2,000 cranes per year and do not know who imports cranes where … Atlas does not sell cranes to this country! Sure we have an issue,’ he added, ‘cranes are made to be used in construction … what do you suggest Atlas can do? No one has given out any serial numbers so we can check where was the crane sold to?’ In 2013, the Iranian state killed 529 people with the rate continuing under President Hassan Rouhani at around two every day.” (The Huffington Post, “German Manufacturer Atlas Denies Selling Cranes To Iran, Which Have Been Used For Public Hangings,” 2/20/14)

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"The chairman of a German company whose cranes are reportedly being used for public hangings in Iran lashed out at critics and dismissed calls for his company to end its relationship with Tehran on humanitarian grounds. German construction company Atlas has come under fire from advocacy groups for purportedly supplying cranes to Iran, which then uses them to publicly hang opposition leaders and others. Iran is a world leader in executions, killing 529 citizens last year mostly by hanging. Another 40 people were hanged over two weeks in January, and about two Iranians are being executed a day under President Hassan Rouhani. The name Atlas can be seen on the cranes in several photographs of Iran’s public hanging ceremonies, in which a masked executioner strings up a man as locals gather to watch, often with their children.

The photographs prompted the advocacy group United Against Nuclear Iran (UANI) to write Atlas Chairman Fil Filipov to demand that his company ‘immediately terminate all business activities in Iran.’ Atlas, which appears to be represented in Iran by an affiliate named Hydro Atlas, says it is not doing business with Iran and does not know how its equipment made its way to the country. ‘We do not ship any cranes to this country!’ Filipov told the Washington Free Beacon via email when asked about the pictures showing its cranes being used in hangings. Filipov dismissed humanitarian concerns in a series of emails to the Free Beacon and said he has “no idea” how his company’s equipment ended up in Iran. Asked if he was concerned that Atlas cranes were being used in executions, Filipov responded, ‘We are not the police … we make over 2,000 cranes per year and do not know who imports cranes where … Atlas does not sell cranes to this country! Sure we have an issue’ with the equipment being used to kill people, because ‘cranes are made to be used in construction … what do you suggest Atlas can do?’ wrote Filipov, the author of Filosophies: A Bulgarian Refugee’s Autobiography and Provocative Approach to Business Success. When pressed further on the issue, Filipov said he has ‘no idea’ if Atlas cranes have been used to hang Iranians. ‘I have no idea—have NEVER been to that country and do not know it,” he wrote, adding he does “not understand” what exactly is taking place. ‘I have no idea,’ he wrote when asked how the cranes may have made it to Iran. ‘No one has given out any serial numbers so we can check where was the crane sold to???’ Asked if it was false for UANI to claim that Atlas cranes are being utilized in executions, Filipov again responded, ‘I have no idea.’ When presented with UANI’s letter and photographic evidence purporting to show people hanging from Atlas cranes, Filipov dismissed the group as ‘crazy people…I have no time to deal with crazy people writing whatever without any substantiations … already work 20 hrs per day to keep the businesses afloat and!! [sic]’ he wrote. 

UANI spokesman Nathan Carleton said Filipov should to be more accountable given Iran’s record of human rights abuses. ‘It is regrettable that Mr. Filipov is not more concerned with this situation—it is a very serious matter,’ Carleton told the Free Beacon. ‘Instead of making such flippant responses, Mr. Filipov should explain how his cranes got to Iran and why there is an Iranian firm calling itself his business partner and using his logo.’ UANI CEO Mark Wallace earlier this month called on Atlas to “leave Iran…Lest there be any doubt about the risks for all responsible companies of doing business in Iran, each and every business worldwide that is considering entering the Iran market should look at the morbid pictures of dead Iranians hanging by their necks from Atlas cranes. Iran is not open for business,’ Wallace said in a statement issued at the time. Filipov did not publicly respond to Wallace’s letter, which was sent as part of UANI’s Cranes Campaign aimed at stopping companies from dealing with Tehran." (Washington Free Beacon, “German Company Denies Selling Death Cranes to Iran,” 2/19/14)

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On October 5th, 2013, two prisoners were hanged to death publicly on an Atlas crane for allegedly "murdering four members of a family in Babol." In a statement condemning the hangings, Iran Human Rights IIHR) said, "This is nothing else than promoting a culture of murder and brutality in the society." (Iran Human Rights, "Two Prisoners Executed Publicly in Northern Iran," 10/5/13)

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On September 14, 2013, an 18 year-old Iranian was hanged to death publicly on an Atlas crane by regime authorities. The regime regularly performs executions by publicly hanging the condemned from a construction crane. (Iran Human Rights, "An 18 Year Old Boy Hanged Publicly in Northern Iran Today," 9/14/13)

 

Antonov Co.

Industry
Aerospace, Manufacturing
Country
Ukraine
Contact Information
Sources

In November 2017, Iran discussed bilateral cooperation in the field of air industries with Antonov company CEO. Iran and Antonov company have been cooperating in the production and operation of aircrafts for two decades.

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"The Persian Gulf country will buy two Ukrainian-made Antonov-158s, after a test flight of the aircraft earlier this month, Mohammad-Ali Sirati, managing director of the Iranian aircraft company, was cited as saying by the official Islamic Republic News Agency. The countries then will start to jointly build the aircraft next year, Sirati, whose company will be in charge of the project, said in Tehran yesterday. Some 30 percent of each plane will be made in Iran, state-run media reported." (Business Week, "Iran Says Antonov-158 Built With Ukraine May Fly in 2013," 10/6/2011)

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Antonov lists on its website that their AN-24 turboprop aircraft is serially produced at HESA plant in Isfahan, Iran. (Antonov website)

Sinohydro Group

Industry
Construction, Energy
Country
China
Sources

In January 2021, the State of New Jersey Department of the Treasury listed Sinohydro as a company engaged in prohibited activities in Iran pursuant to P.L. 2012, c. 25 ("Chapter 25"). 

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On October 14, 2020, Sinohydro remained on the Tennesse Department of General Services list of persons it determines engage in investment activities in Iran, as described in 12-12-105.

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As of July 1, 2020, Sinohydro is listed as an entity “determined, based on credible information available to the public, to be engaged in prohibited activities in Iran pursuant to New Jersey P.L. 2012, c.25 (“Chapter 25”). 

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In 2020, the U.S. state of Mississippi listed Sinohydro 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 June 8, 2020, Sinohydro is listed on the Pennsylvania Department of General Services Iran Free Procurement List. Entities included on this list are ineligible to enter into a contract with the Commonwealth of Pennsylvania for goods and services worth at least $1,000,000 per sections 3501-3506 of the Commonwealth Procurement Code, 62 Pa. C.S. §§ 3501-3506.  

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As of April 15, 2020, Sinohydro is included on the Tennessee list of persons it determines engage in investment activities in Iran, as described in § 12-12-105. 

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As of April 15, 2020, Sinohydro is included as an entity determined to be non-responsive bidders/offerers pursuant to The New York State Iran Divestment Act of 2012.  

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On June 30, 2019, New Jersey listed Sinohydro on its state list of entities determined, based on credible information, to be engaged in prohibited activities in Iran.

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On March 13, 2019, the Mississippi Department of Finance & Administration identified Sinohydro 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 2018 the U.S. state of New Jersey, New York listed Sinohydro on its list of entities determined to be engaged in prohibited activities in Iran rendering Sinohydro ineligible for investment and/or state contracting.

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In 2018 and 2019 Tennessee used the New York list of “Entities determined to be non-responsive bidders/offerers pursuant to the New York State Iran Divestment Act of 2012.” Sinohydro was included on this list in 2018 and 2019. Tennessee states "Inclusion on this list would make a person ineligible to contract with the state of Tennessee, if a person ceases its engagement in investment activities in Iran, it may be removed from the list."

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In 2017 the U.S. state of Pennsylvania, Mississippi listed Sinohydro on its list of companies doing material business with Iran rendering Sinohydro ineligible for investment and/or state contracting.

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"China's Sinohydro Group said it has not received any written notification that Iran has cancelled a $2 billion contract for it to help build a hydroelectric dam in the country... Sinohydro won the project with Iran's hydro firm Farab in March last year." (Reuters, "China's Sinohydro says no notification of Iran dam cancellation," 6/4/2012)

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"On 15th March 2011, SINOHYDRO signed the nearly $2 billion contract of Iran's Bakhtiary Dam and Hydropower Plant Project with Iran Water & Power Resources Development Company in Tehran. The Project is located on the lower part of Bakhtiary river in Lorestan Province, Zagros folded area, Iran. The total installed capacity is 1,500 MW. Bakhtiary dam is a planned double-curve arch dam with a height of 315m. It will be the world's tallest dam once completed and withhold the largest reservoir in Iran. After competitive tendering process, SINOHYDRO and Iran's Farab jointly won the project. The contract period is set to 118 months." (Sinohydro Press Release, "Sinohydro Signed the Contract to Build Iran's Bakhtiary Project," 3/15/2011)

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"Iranian and Chinese officials will sign a $2 billion agreement for the construction of a dam and a power plant in Iran's western province of Lorestan, Press TV reported. The agreement will be signed between Sinohydro Corp., China's largest water projects developer, and Iran's Farab, the state-run news channel said, citing Mohammad Reza Rezazadeh, the managing director of Iran's Water and Power Resources Development Co. The contract will be completed this week and operations are to start in the next Iranian calendar year, which starts on March 21, according to the report, published on Press TV's website today." (Bloomberg News, "Chinese to Build $2 Billion Iran Dam, Power Plant, Press TV says," 3/14/11)

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"On 29th September, SINOHYDRO signed the contract of Moshampa Dam & Power Plant and Irrigation Network with The Ministry of Energy of Islamic Republic of Iran, Zanjan Regional Water Company. With a total installed capacity of 108MW and a considerable contract value of RMB 10.04 billion (equal to around USD 1.5 billion), the Moshampa Dam & Power Plant and Irrigation Network is included in the package cooperation agreements between China and Iran. The project is also one of the most urgent projects required to be built by Iranian energy ministry" (Sinohydro Press Release, "Sinohydro is to Construct Moshampa Dam & Power Plant and Irrigation Network in Iran," 9/29/2011) 

XCMG

Industry
Construction
Country
China
Sources

XCMG is China’s largest construction equipment manufacturing conglomerate, and the world’s 6th largest crane manufacturer as of 2007.  

The full line of XCMG equipment is made available for purchase in Iran through exclusive dealer Rahdar Sanat Machine Co. Iran is specifically mentioned as an export destination on XCMG’s website

     

       

      Furukawa UNIC

      Industry
      Construction
      States
      AZ
      Country
      Japan
      Sources

      UNIC is a Japanese hydraulic crane manufacturer specializing in truck mounted cranes and mini crawler cranes with a turnover of $485 million and over 60 overseas sales locations. They are owned by the Furukawa Group. As of 2007, they are the world’s 16th largest crane manufacturer.

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      Recently, photos have been published in Iranian media of public hangings using UNIC cranes. 

       

       

       

       

      Zoomlion

      Industry
      Construction
      Country
      China
      Contact Information
      Sources

      Zoomlion "exports products to the USA, Russia, Iran, Turkey, and other countries.
       

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      Zoomlion is listed as a participating company at the 14th International Exhibition of Transportation & Urban Services & Related Industries which takes place October 27-30th, 2016 in Tehran Iran. (Participating International Companies)  

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      Zoomlion is a Chinese construction manufacturer specializing in cranes. As of 2007, it was the world’s 11th largest crane manufacturer. Zoomlion has nearly 20,000 employees and operates out of nine industrial parks, one of which is in Milan, Italy.

       Zoomlion advertises its business with Iran on the front page of its website. A June 2010 company newsletter trumpets its sale to Iran of twelve tower cranes including a TC7035B-16, “the largest tower crane that had been exported to Iran.” The newsletter states that “By far, the tower cranes from Zoomlion have made up the main part of the total market shares of Iran.”

       

         

         

         

          Tadano

          Industry
          Construction
          Value of USG Contracts
          6
          Value of USG Contract Source
          http://www.usaspending.gov/explore?fromfiscal=yes&fiscal_year=2010&contractorid=299625&fiscal_year=&tab=By+Prime+Awardee&fromfiscal=yes&carryfilters=on&Submit=Go
          Symbol
          TYO: 6395
          States
          TX
          Country
          Japan
          Sources

          "Now owned by the Japan-based Tadano, Demag 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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          "A Japanese heavy machinery manufacturer said it has cut business ties with the Iranian government following a report that its cranes have been used for public executions. The company's announcement came several days after United Against Nuclear Iran President Mark D. Wallace published an op-ed in Los Angeles Times where he names the Japanese Tadano company as one of several companies exporting cranes to Iran. 'In response to Iran's brazen attempts to intimidate and terrorize its own people, United Against Nuclear Iran has launched a Cranes Campaign. The goal is to educate crane manufacturers worldwide about the Iranian regime's clear misuse of their products and how such use can tarnish their brand image,' Wallace wrote." (YnetNews. "Japanese firm cuts ties with Iran over crane executions," 7/15/11)

           

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          Tadano is Japan's largest manufacturer of cranes and lifting equipment. Tadano manufactures all-terrain cranes, aerial work platforms, truck cranes, boom trucks, and other construction equipment (Company Website). In 2010, Tadano had over $1 billion in net sales (Annual Report). Tadano has a large American presence.

          Tadano lists an Iranian subsidiary, IER Iran, on its website. IER Iran imports a wide variety of construction equipment, including Tadano cranes, into Iran. Tadano's cranes are used by the Iranian regime to publicly execute dissidents (Photo).

           

          Dragados

          Industry
          Construction
          Symbol
          SM: DRC
          Country
          Spain
          Contact Information
          Sources

          "Later in October, a second South Korean company, Daelim, announced that a consortium it heads had won a contract to build onshore processing facilities for Phase 12 of South Pars. The consortium includes three Iranian engineering and construction companies: Sazeh Consult, Kayson and Iran Industrial Networks Development Company. The value of the contract is close to US $2bn. The bulk of Phase-12 output is scheduled for a liquefied natural gas (LNG) plant, with a daily output of 3bn cu ft of gas and 120,000 barrels of gas condensates. The Daelim-led consortium was until this year headed by Dragados, but the Spanish company dropped out, apparently under political pressure. The Phase-12 liquefaction facilities will be at Bandar Tombak, around 40 km north-west of Assaluyeh, the port where gas from South Pars will also be processed for pipeline transmission." (EIU Country Report Select, "Economic Performance: South Korean Firm Signs Gas Deal with Iran," 11/10/2009)

          Hyundai Heavy Industries

          Industry
          Construction, Manufacturing, Shipping
          Value of USG Contracts
          39
          Value of USG Contract Source
          http://usaspending.gov/explore?fromfiscal=yes&fiscal_year=2010&contractorid=298145&fiscal_year=&tab=By+Prime+Awardee&fromfiscal=yes&carryfilters=on&Submit=Go
          Symbol
          KRX: 009540
          States
          FL
          NJ
          TX
          Country
          South Korea
          Sources

          As of October 29, 2021, Korea Shipbuilding & Offshore Engineering Co, the parent company of Hyundai Heavy Industries, is listed on Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement In Iran because of oil-related investment of US $20 million since 1996. Hyundai Heavy Industries is not listed.

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          As of July 1, 2021, Korea Shipbuilding & Offshore Engineering Co is not listed on Mississippi's list of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors.

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          "The company, through a sub-holding company, was reported as potentially having entered into a contract to build ships for an Iranian state-owned shipping company. CalPERS moved the company into “monitor” status in 2018. News reports in 2018 cite a source at the company as confirming no ships have been delivered under the contract, and that “it is impossible for [the company] to deliver the ships with U.S. sanctions back in position.” 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 2020, the U.S. state of Mississippi listed Hyundai Heavy 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 October 2019, Hyundai Heavy Industries remains on 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. 

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          Iranian oil, gas, petrochemical and energy firm, Nirou Taban Spadana Company (“Nirou Taban) claims to sell products of Hyundai Heavy. 

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          "In December 2016, signed a $760 million contract with the Islamic Republic of Iran Shipping Lines (IRISL) to build four 14,500 20-foot equivalent unit (TEU) container ships and six 49,000-ton tankers for petrochemical products; tankers were built by its affiliate, Hyundai Mipo Dockyard; is taking a “wait-and-see approach” noting that it will be impossible to deliver the ships to Iran under U.S. sanctions." ("Mazda, Hyundai Leave Iranian Market, Affecting Cars and Shipping," Radio Farda, June 13, 2018.

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          "Managing Director of the Islamic Republic of Iran Shipping Lines Mohammad Saeedi said on Saturday the first of 10 new ships ordered by his company from Hyundai Heavy Industries will be delivered in March 2018." (December 2017)

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          In 2017 the U.S. state of California listed Hyundai Heavy Industries as a company under review for potentially having entered into a contract to build ships for an Iranian state-owned shipping company.

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          In 2017 the U.S. state of Pennsylvania, Mississippi, South Carolina and Tennessee listed Hyundai heavy., on its Iran scrutinized list for an oil related involvement of at least US $20 million since 1996, rendering Hyundai Engineering & Construction ineligible for investment and/or state contracting. 

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          In 2016 Tennessee used the South Carolina list of "Entities Ineligible to Contract with the State of South Carolina or any Political Subdivision of the State per the Iran Divestment Act of 2014, S.C. Code Ann." as its list of persons it determines engage in investment activities in Iran. Hyundai Heavy was included on this list in 2016. "Inclusion on this list would make a person ineligible to contract with the state of Tennessee, if a person ceases its engagement in investment activities in Iran, it may be removed from the list."

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          In 2016, Hyundai Heavy Industries 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 and new involvement was identified.

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          Hyundai Heavy Industries Co. received a $700 million order to build 10 ships for Iran’s state-owned shipping company in a deal that signifies the Middle Eastern country’s return to the international market after a decade. The deal is part of plans by Islamic Republic of Iran Shipping Lines and Iranian Offshore Oil Co., a subsidiary of state oil company National Iranian Oil Co., to spend a total of up to $2.5 billion to modernize their fleets. Iranian shipping companies haven’t modernized their fleets since 2006, when the United Nations imposed wide-ranging sanctions against Tehran over its uranium-enrichment program... “This marks Iran’s first ship order since international sanctions were lifted early this year. Hyundai plans to provide technical support for Iran to run its shipyards as well,” the South Korean company said Sunday. (Wall Street Journal, "Hyundai Heavy Gets $700 Million Deal to Build 10 Ships for Iran Shipping Lines," 12/10/2016).

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          "Iran’s state-owned shipping company is in advanced talks with Korean shipyard Hyundai Heavy Industries Co. for a $650 million order of container ships and tankers, people involved in the talks said, marking Iran’s return to the international market after a decade. The deal may be announced as early as this week and is part of plans by Islamic Republic of Iran Shipping Lines and Iranian Offshore Oil Co., a subsidiary of state oil company National Iranian Oil Co., to spend a total of up to $2.5 billion to modernize their fleets. A Hyundai Heavy spokesman said Monday that Islamic Republic of Iran Shipping Lines, or IRISL, was in talks with the shipyard over a 10-ship order, but gave no details. Iranian shipping companies haven’t modernized their fleets since 2006, when the United Nations imposed wide-ranging sanctions against Tehran over its uranium-enrichment program." (The Wall Street Journal, "Iran Shipping Lines Close to $650 Million Korean Order," 12/5/2016).

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          Hyundai Oilbank and Hyundai Corporation are subsidiaries of Hyundai Heavy.

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          "Iran said on Saturday that a deal has been reached with South Korea to launch a joint shipbuilding venture between the two countries. The venture will be established between Iran Shipbuilding and Offshore Industries Complex Company (ISOICO) and Hyundai, IRNA reported. ISOICO Managing Director Hamid Rezaian has emphasized that the related consultations as well as key agreements for the move have already been taken care of... Rezaian had announced in late November that ISOICO is looking into partnerships with major international shipbuilders including Hyundai and Germany's Nordic Yards Wismar." (Press TV, "Iran, South Korea to launch shipbuilding JV," 12/5/15) 

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          On March 24, 2015, Florida State Board of Investments removed Hyundai Heavy Industries from the Iran Continued Examination list during the quarter.

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          "None of the firms targeted are based in the United States. Only one name might appear familiar to American consumers: Hyundai Heavy Industries, the world's largest shipbuilder. However, that company has no connection to the similarly named automaker, said Jim Trainor, a spokesman for Hyundai Motor Co. The group United Against Nuclear Iran has criticized Hyundai Heavy Industries for its dealings with Iran and has faulted the Obama administration for failing to put it on the sanctions list." (The Baltimore Sun, "22 companies are listed for alleged Iran ties, sanctions," 9/17/2012)

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          Hyundai Heavy Industries is the world's largest shipbuilder, with a 15% world market share. It also manufactures a variety of industrial, construction, and electrical equipment (Company Website). 

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          Hyundai Heavy Industries has received numerous contracts to provide manufactured goods to Iran over the past six years. In 2004, HHI received an $18 million contract to provide construction equipment including excavators and wheel loaders to assist in the development of Iran's South Pars gas field. 

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          In 2007, HHI received a $54 million contract to upgrade a refinery owned by the National Iranian Oil Engineering and Construction Co, a state-owned entity. And as recently as 2009, HHI received a contract to provide six high-pressure pump units to outfit an Iranian power plant.

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          In 2005, HHI together with Daewoo Shipbuilding received a $1 billion contract from the state-owned National Iranian Oil Tanker Co to build 10 oil tankers (Bloomberg). At the contract’s issuance, NIOTC officials planned to order another 35 vessels for 2010; the status of this order is unknown. Each tanker is capable of carrying 2 million barrels of crude, providing a massive increase in shipping capacity for the Iranian petroleum industry.

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          HHI owns a controlling stake in the Hyundai Corporation, a general trading company specializing in a wide variety of shipping, industrial, chemical, and electrical products. Hyundai Corp signed a $1.9 billion contract to provide Iran with materials “in the fields of shipbuilding, machinery, steel & metal, chemicals, home appliances, etc.” Hyundai Corp’s Tehran Office website contains a Major Products section, which contains a litany of sensitive products with wide applicability in the Iranian energy, petroleum, and even defense industries. This products include: oil tankers, LNG carriers, diesel engines, signaling systems, optical cables, conductor wires, high voltage cables, transmission cables, steel, aluminum, zinc, polypropylene, other chemicals, and consumer electronics. 

          Tepe Akfen Ventures (TAV)

          Industry
          Airline, Construction
          Symbol
          IST: TAVHL
          Country
          Turkey
          Contact Information
          Sources

          “The armed forces closed down the recently inaugurated Imam Khomeini International Airport (IKIA) on 8th May.  Because of security concerns, the armed forces closed the airport after a commercial airliner landed at the airport.  This was the first aircraft to land at IKIA. The armed forces announced that the decision to entrust the airport’s operation to a foreign company ‘threatens the security of the country as well as its dignity. The airport was built and was expected to be run by Turkish-Austrian consortium Tepe-Akfen-Vie (TAV). Iran’s two domestic airlines had announced that they would not transfer their operations to the airport.” (Zawya, “New Imam Khomeini Airport Closed after First Flight,” May 2004)

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          The Guardian Council, comprising six Islamic clerics and six lay jurists, has in effect become an upper house of parliament. The council can vet all legislation passed by the Majlis and veto any laws that it judges do not comply with Islamic law or Irans constitution. Its influence was most apparent in 2004 and 2005 when it ratified legislation giving the Majlis retroactive veto power over two major foreign investment contracts, those of Turkcell (Turkey) and Tepe-Akfen-Vie (a joint Austrian-Turkish consortium). (Economist Intelligence Units Country Commerce Select, The operating environment: Political conditions, March 19, 2008)