Farab Group

What Farab Group does

Farab Group monetizes through a hybrid revenue model combining one-time EPC contracts, Build-Own-Operate (BOO) and Build-Own-Operate-Transfer (BOOT) long-duration power generation investments (Sangtuda 2 in Tajikistan, Dalahoo and Yazd/Islamabad in Iran), equipment manufacturing and installation services, and ongoing operations and maintenance contracts on six power plants (five domestic, one international). Customers are almost exclusively government and state-owned enterprises — Iranian ministries and utilities (Tavanir, SUNIR, regional water and electricity distribution companies, Pars Oil and Gas, Persian Gulf Star Refinery), municipal governments (Tehran Districts 12 and 17), and sovereign international clients (Barki Tojik, Government of Sri Lanka, Kurdistan Region of Iraq Ministry of Electricity, KenGen) — acquired through competitive bidding, direct negotiation, and international tender processes under non-transparent government contract pricing with guaranteed offtake for BOO output. The company's go-to-market is enterprise field sales supported by participation in major Iranian industry exhibitions and corporate communications via Farab Magazine. Strategic positioning centers on vertical integration from design and equipment manufacturing through long-term operations, technical differentiation through record-setting engineering (618 m vertical shaft, 15,300 m TBM tunnel), domestic localization (49% of Dalahoo equipment manufactured in Iran), and export of engineering services (Iran ranked among top three exporting countries for engineering services globally).

Name

Farab Group

Legal name

Farab Group (شرکت فراب)

Website

https://farab.com

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Farab Group is an Iranian EPC contractor founded in 1992, delivering hydropower, thermal, solar, oil and gas, water, rail, and smart grid infrastructure projects to government and state-owned clients across Iran and six other countries through 15+ specialized subsidiaries and BOO/BOOT investment models.

Ownership category

akta.pro rank

Product category

Infrastructure Engineering, Procurement and Construction (EPC) Services

NAICS

Oil and Gas Field Machinery and Equipment Manufacturing (333132), Pump and Compressor Manufacturing (33391)

SIC

Oil & Gas Field Services, Nec (1389), General Industrial Machinery & Equipment (3560)

akta.pro primary industry

Balance-of-Plant (BOP) & Civil Works for Power Plants (EUAEAAAL)

akta.pro secondary industries

Civil & Site Works EPC (Earthworks, Roads, Drainage, Foundations) (EUAEADAA), Substation & Interconnection EPC (Collector/POI Substations, Switchyards) (EUAEADAC)

Keywords

• Engineering procurement construction
• Hydroelectric power construction
• Power plant EPC services
• Water infrastructure engineering
• Oil gas petrochemical EPC

Headquarters

HQ city

Tehran

HQ country

Iran

HQ region

Middle East

Offices15 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Technology or R&D

Revenue model

1. EPC Contracts: Farab Group primarily generates revenue through Engineering, Procurement, and Construction (EPC) contracts for infrastructure projects. The company acts as a general contractor executing hydropower plants, thermal power plants, oil and gas facilities, water treatment plants, and rail transit systems for government and private clients. Revenue is project-based and recognized over construction periods.
2. BOO/BOOT Projects: The company invests in Build-Own-Operate (BOO) and Build-Own-Operate-Transfer (BOOT) power generation projects, earning returns through electricity production and sales. Examples include Sangtuda 2 in Tajikistan and Dalahoo power plant in Iran.
3. Equipment Manufacturing and Installation: Subsidiaries manufacture and install electromechanical and hydromechanical equipment for power plants, generating revenue through equipment supply and installation services.
4. Operations and Maintenance Services: The Operations and Maintenance subsidiary provides O&M services for power plants, managing 5 power plants in Iran and 1 in another country.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Farab Group is a general contractor delivering full-scope Engineering, Procurement, and Construction (EPC) services for large-scale infrastructure, focused on hydroelectric, thermal/combined-cycle, and solar power generation, oil/gas/petrochemical facilities, water treatment and desalination, and urban rail/metro systems. It supplements EPC delivery with equipment manufacturing through Farab Equipment Manufacturing, operations and maintenance for 5 domestic and 1 international power plant, and long-term BOO/BOOT power project investments. Its customers are governments, state-owned utilities, and municipal authorities in Iran, Tajikistan, Kenya, Iraq, and Sri Lanka.

Product overview

Farab Group is a comprehensive engineering services conglomerate operating across seven core business domains: hydroelectric power plants (where it pioneered domestic expertise in Iran), thermal and combined-cycle power generation, solar photovoltaic plants, oil/gas/petrochemical facilities, water and desalination systems, rail transit infrastructure, and smart grid technologies. The company operates through specialized subsidiaries including Farab Equipment Manufacturing (hydro-mechanical equipment), Farab Construction and Installation (civil and mechanical works), and Nardis Energy Projects (oil and gas), providing full EPC capability from design through commissioning. Its flagship international project is the Uma Oya multipurpose development in Sri Lanka—a 120 MW hydroelectric complex with dams and tunnels. The group also offers operations and maintenance services for power plants, managing 5 domestic and 1 international facility. With over 15 specialized companies, Farab delivers integrated engineering solutions across Iran's power and water sectors and exports services to 6 countries.

Differentiator

Problem solved

Functional benefit

Products and services

• Hydroelectric Power Plants (نیروگاه‌های آبی) Design, construction, and management of hydroelectric power plants including dams, water conveyance tunnels, and underground powerhouses. Delivered for Iranian government utilities (e.g., SUNIR, regional water companies) and foreign governments (Sri Lanka, Tajikistan, Kenya, Iraq). Major reference projects include Karoun 3, Gotvand, Karoun 4, Siah Bisheh, and Uma Oya (Sri Lanka).
• Thermal and Combined-Cycle Power Plants (نیروگاه‌های حرارتی و سیکل ترکیبی) EPC construction of thermal and combined-cycle power plants including gas turbines, steam turbines, and heat recovery steam generators (HRSG). Reference projects include Dalahoo 910 MW (with 57% efficiency using Class F turbines and 49% domestic equipment content), Tehran 2 Combined Cycle 930 MW (BOO with Tavanir), South Pars Steam Turbine Power Plant (Block 1, 2, 3), Shirkouh Combined Cycle, and Ilam Gas Turbine Power Plant.
• Solar Power Plants (نیروگاه‌های خورشیدی) Design and construction of solar photovoltaic power plants ranging from 12 kW to 135 kW for municipalities and government buildings, including Tehran Districts 12 (135 kW) and 17 (40 kW), Gachsaran Oil/Gas/Petrochemical Faculty (50 kW), Golestan Province Electricity Distribution (12 kW), and Hamedan Province Gas Company (20 kW).
• Oil, Gas and Petrochemical (نفت، گاز و پتروشیمی) Upstream and downstream EPC services in the oil, gas, and petrochemical sectors covering gas compressor stations, pipelines, refineries, petrochemical complexes, offshore platform renovation, storage and metering stations, and utility/process units. Farab has delivered 15 upstream and downstream EPC projects in this sector since 1384, including work for Pars Oil and Gas Company (South Pars phases 13, 22-24) and Persian Gulf Star Refinery (Qods).
• Water and Desalination (آب و آب‌شیرین‌کن) Seawater desalination plants, water treatment facilities, and water conveyance systems. Reference projects include Bandar Abbas desalination (100,000 m³/day), South Pars Steam Turbine Power Plant desalination (8,000 m³/day), Oman Sea water supply to eastern Iran, and Kish Island North Wastewater Treatment Plant expansion (Module 4).
• Rail Industries (صنایع ریلی) EPC services for urban rail and metro systems including signaling, power supply, and rolling stock procurement. Reference projects include Tehran Metro Line 7 (26 km, 22 stations), Tehran Metro Line 8, Qom Metro Line A (14 km, 14 stations), and Mashhad Metro Line 2 (14.4 km underground, 13 stations).
• Civil Engineering (ساختمان و عمران) Large-scale civil construction including dams, tunnels, roads, and buildings, with specialized capabilities in complex civil works for infrastructure projects.
• Smart Grids (شبکه‌های هوشمند) Smart electricity metering and grid management systems, including the Faham project with 2000x2 intelligent measurement points piloted in Zanjan and Bushehr provinces and now in operational phase.
• Operations and Maintenance (بهره‌برداری و نگه‌داری) Operation, maintenance, and repair services for power plants, delivered through Farab Operations and Maintenance Company. Currently manages 5 power plants in Iran and 1 international power plant.
• Engineering and Design Services (طراحی و مهندسی) Basic and detailed engineering services for infrastructure projects, creating optimized engineering teams that combine Farab's skills and experience with client requirements across power, oil/gas/petrochemical, water, rail, and civil projects.
• Uma Oya Multipurpose Development Project Flagship multipurpose development project in Sri Lanka comprising two dams, a 15.3 km water transfer tunnel, and a 120 MW underground hydroelectric power plant with two 60 MW Pelton turbine units at 750 m depth. Delivered to the Government of Sri Lanka; transfers 145 million m³/year of water to drought-prone regions serving 5,000 hectares of agricultural land and generates 290 GWh/year of electricity.

Quantifiable outcome

• Dalahoo power plant achieves 57% efficiency with Class F gas turbines
• +4 more outcomes

Named customers18 records

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered minor and core.

• Hara Institute (Subsidiary of Khatam al-Anbiya Construction Headquarters)minorChannel Partner/ Reseller/ Distributor · 27 September 2017EPC contractor for equipment and rolling stock supply on Qom Metro Line A project. Farab serves as subcontractor for equipment supply under main contractor.
• Kurdistan Regional Government - Iraq (Ministry of Electricity)coreStrategic or Co-development Partner · 5 July 2015Deralok 2 Dam and 37.6 MW Hydro Power Plant in Duhok Province, Iraq. Partnership between Farab and Bolandpayeh consortium. Project awarded July 2015, completed 2015.
• Regen Terem SHPP LimitedcoreStrategic or Co-development Partner · 21 September 2014Terem 5.2 MW Hydro Power Plant in Bungoma, Kenya. Farab provided electromechanical and hydromechanical equipment, civil works, installation and commissioning. Third Farab project in Kenya.
• Kenya Electricity Generating Company (KenGen)coreStrategic or Co-development Partner · 1 January 2014Tana Hydropower Plant Renovation - 25 MW rehabilitation project in Kenya. Farab supplied electromechanical and hydromechanical equipment.
• Government of Sri LankacoreStrategic or Co-development Partner · 1 March 2010Uma Oya Multipurpose Development Project - design, construction, and operation of 2 dams, 15.3 km water transfer tunnel, and 120 MW underground hydroelectric power plant. Project started March 2010, completed April 2024. Includes transfer of 145 million cubic meters water annually to drought-prone regions and 290 GWh/year electricity generation.
• Tajikistan Government / Barki TojikcoreStrategic or Co-development Partner · 8 July 2008BOOT agreement for Sangtuda 2 Dam and 220 MW Hydro Power Plant in Khatlon Province, Tajikistan. Farab invested in construction, owns, and operates the plant with power sold to Tajik grid under long-term agreement. Project started March 2010, completed 2012.

Scale indicators14 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• SUNIR (Société Unie d'Ingénierie et de Réalisation): Iranian hydropower and thermal EPC firm (originally a Tractebel joint venture) that acts as both client (via Iran Water & Power Resources Development Co. linkages) and competitor. Direct overlap on Karoun-class dam and hydropower projects and engineering consulting services.
• Khatam al-Anbiya Construction Headquarters: Iranian IRGC-owned EPC conglomerate executing mega-projects across power, oil & gas, and infrastructure. Farab has even worked as subcontractor to its Hara Institute subsidiary on Qom Metro. Comparable scale, project types, and government-client base in the Iranian EPC market.
• Moshanir Power Engineering Services: Iranian engineering consultancy and EPC contractor focused on power generation and T&D. Comparable in serving Tavanir and SUNIR, with overlapping scope in thermal, hydro, and grid projects; smaller scale than Farab but direct bidding competitor on government tenders.
• MAPNA Group: Iran's largest private power generation EPC conglomerate with combined-cycle, gas turbine, and renewable capabilities. Directly comparable to Farab on domestic Iranian EPC competition, MAPNA also builds and operates power plants via subsidiaries, and is Farab's primary domestic rival for Tavanir, SUNIR, and NDF-funded mandates.

Broad incumbents

• Voith Hydro: German-headquartered hydropower equipment and services company, with full EPC capabilities for large hydro plants. Comparable to Farab in installed base of hydro turbines and project services for utilities globally.
• GE Vernova: US-headquartered power generation OEM and services provider spanning gas, steam, hydro, wind, and grid. Overlap with Farab on combined-cycle gas turbines (Dalahoo's 57%-efficient Class F units), HRSG, and balance-of-plant scopes for thermal EPC.
• Siemens Energy: Global power generation EPC and OEM covering gas turbines, steam turbines, HRSG, and grid technology. Direct competitor to Farab's combined-cycle and thermal EPC scope; potential technology partner if Iranian engagement resumes.
• Larsen & Toubro (L&T) Construction: Indian EPC conglomerate with large power T&D, hydro, and thermal power plant execution capabilities across the Middle East, Africa, and South Asia. Comparable international project profile and government-client base, with broader scale across hydrocarbon and infrastructure verticals.
• Andritz AG: Global market leader in hydropower turbomachinery (Pelton, Francis, Kaplan turbines) and a major EPC contractor for hydro plants. Farab uses Andritz-class turbines at 750m depths at Uma Oya; overlap is on equipment supply and turnkey hydro delivery worldwide.
• Power Construction Corporation of China (PowerChina): China's largest state-owned international EPC contractor, dominant in hydro, thermal, and T&D across Africa, South Asia, and Central Asia. Competes head-to-head with Farab in target export markets like Kenya, Sri Lanka, and Tajikistan, with a structural cost-of-capital advantage via concessional financing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/farabcorp
• Facebookfacebook.com/Farab

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Farab Group