Reuters: Major Agreements Between Foreign Companies and Khamenei-Controlled Entities After JCPOA

Reuters has reported that foreign companies have signed at least nine major contracts with entities controlled by the Supreme Leader, such as the Executive Headquarters of Imam's Command, following the Iran nuclear deal. According to the report published on Thursday, January 30, some of these contracts are also with companies in which Khamenei-controlled entities are major shareholders. The exact figures of some contracts have not yet been disclosed. The nuclear agreement between Iran and six world powers was implemented in January of last year. The report states that in May of last year, the South Korean company 'Daewoo Engineering and Construction' announced that it, along with Hyundai, had agreed to build a $10 billion refinery in southern Iran. The 'Bahman Genu' oil refinery project belongs to the energy company Tadbir, a subsidiary of the Executive Headquarters of Imam's Command. A Daewoo official told Reuters that the mentioned agreement is still in the preliminary stage and there has been no progress in negotiations since May. An official from Hyundai and another from Tadbir Energy also stated that negotiations regarding this project are ongoing. Reuters adds that Daewoo also signed a $1.5 billion memorandum in May 2016 to build the Tehran-North highway, which besides the Iranian Ministry of Roads and Urban Development, the Foundation of the Oppressed, also controlled by the leadership, is a partner in the project. The South Korean official regarding this project said that there has been no progress in negotiations for the highway since May, and another informed source mentioned that the project is currently in the technical studies phase. The report further states that the Danish pharmaceutical company Novo Nordisk also signed a contract in June of last year to build a pharmaceutical unit specifically for the industrial-scale production of insulin syringes with the Berkat company, a subsidiary of the Executive Headquarters of Imam's Command. Recently, the Danish company stated that it would invest $75 million in this project. Nasrollah Fathian, the spokesperson for Berkat, also said that 'this company does not belong to Khamenei; the leadership merely oversees it.' Iranian media reported in the spring of this year that 65% of the shares of a subsidiary of Berkat were sold to the Spanish company 'Chemo.' Reuters writes that in Berkat's annual report, it is also mentioned that 65% of the shares of the pharmaceutical company 'Ati' and 'Alborz Investment Group' were transferred to Chemo. Meanwhile, the Italian company Italfer, affiliated with the Italian 'Gruppo FS Italiano,' announced in March of last year that it had signed a four-month consulting contract worth $700,000 with a government entity to build a high-speed rail line. Iranian officials have stated that this project belongs to the Khatam al-Anbiya Construction Headquarters of the Islamic Revolutionary Guard Corps. Reuters writes that the Italian company only introduced the China Railway Engineering Corporation as the contractor for this project and did not mention the IRGC subsidiary.