Iran International Engineering Company

What Iran International Engineering Company does

Iran International Engineering Company (IRITEC) is a Tehran-headquartered EPC (Engineering, Procurement, Construction) contractor founded in 1975, specializing in turnkey construction of large-scale heavy industrial plants across steel, mining, oil & gas, petrochemicals, and ancillary sectors. The company executes the full project lifecycle from feasibility studies and engineering design through equipment procurement, civil works, installation, and commissioning, with a workforce of 501-1,000 and a portfolio of 144+ completed major projects. Its core technology capabilities include licensed execution of MIDREX direct reduction plants (18 units completed under Kobe Steel license), steelmaking modules, rolling mills, iron ore concentration, copper concentration, gold extraction, and gas processing facilities, executed in collaboration with international technology partners including TENOVA, SMS-GROUP, KOBELCO, and DANIELI.

IRITEC operates a consortium-based group structure comprising 12+ subsidiaries that cover complementary functions: IRASCO handles foreign equipment procurement and financing coordination, PAMICCO performs construction and installation, Ika Industries provides in-house equipment fabrication, IMECO and IRIKA deliver engineering consulting, Foolad Paya provides technical services, and BIDEC and Metil support distribution and engineering services. IMIDRO (Iranian Mines & Mining Industries Development & Renovation Organization) is both a major client and a key institutional shareholder, anchoring IRITEC within Iran's state-coordinated industrial development ecosystem. The customer base is concentrated among state-owned enterprises (IMIDRO, NIOC, NISC, NIDC, National Copper Industries) and large private/affiliated industrial firms (Mobarakeh Steel, Hormozgan Steel, Khouzestan Steel, Mobarakeh group affiliates), with projects procured through competitive tenders and structured as EPC, EP-only, or E/P+C contracts.

Revenue is generated primarily through fixed-price EPC contracts with durations of 24-48 months, recognized on milestone completion, supplemented by engineering consulting, project management, and equipment supply streams. Go-to-market is enterprise field sales targeting government and large-corporate tenders, with active projects distributed across at least 9 Iranian provinces. The company is privately held and consortium-controlled, with no public listing, no disclosed financial figures, and no international expansion signals; its growth is structurally tied to Iran's state-aligned industrial capex cycle and constrained by international sanctions affecting technology and financing access.

Name

Iran International Engineering Company

Legal name

Iran International Engineering Company (IRITEC) - شرکت بین المللی مهندسی ایران

Website

https://iritec.co

Company type

Private

Founded year

1975

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Iran International Engineering Company (IRITEC) is a Tehran-based EPC contractor founded in 1975 that executes turnkey steel, mining, oil & gas, and petrochemical plant projects for Iranian state-owned enterprises and large industrial firms, with 144+ completed projects and 18 MIDREX direct reduction units.

Ownership category

akta.pro rank

Product category

Industrial EPC Services

NAICS

Engineering Services (54133)

SIC

Services-Engineering Services (8711)

akta.pro primary industry

Aluminum Project Development, Engineering & EPC (Smelters/Refineries) (IMAKACAO)

akta.pro secondary industry

Power Plant Electrical Systems EPC (Switchyard, Transformers, Protection & Controls) (EUAEAAAM)

Keywords

• Industrial EPC services
• Steel plant construction
• Mining engineering
• Oil gas facilities
• Petrochemical construction

Headquarters

HQ city

Tehran

HQ country

Iran

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. EPC Contract Revenue: The primary revenue stream comes from Engineering, Procurement, and Construction (EPC) contracts for industrial plant construction. Contracts are typically fixed-price, with duration spanning 24 to 48 months. Revenue recognition follows project completion milestones. Projects span steel, mining, oil & gas, and petrochemical sectors.
2. EP Contracts: Engineering and Procurement contracts, sometimes partial, where IRITEC provides design services and equipment procurement while construction is managed by the client or a third party.
3. Consulting and Management Contracts (MC/EM): Management consulting and supervision services for industrial projects, including construction management, technical consulting, and project monitoring services.
4. E/P (partial) + C Contracts: Partial engineering and procurement combined with construction services, providing flexible contract structures depending on project scope and client capability.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Iran International Engineering Company (IRITEC) is a private EPC (Engineering, Procurement, and Construction) contractor executing large-scale industrial plant projects across Iran. Its portfolio covers turnkey construction of steelmaking complexes, direct reduction (MIDREX) plants, rolling mills, iron ore concentration and mining facilities, oil and gas processing plants, petrochemical installations, and wood/paper manufacturing plants. IRITEC also offers engineering consulting, project management, feasibility studies, and construction supervision services through a consortium of subsidiary companies.

Product overview

Iran International Engineering Company (IRITEC) is an EPC contractor offering integrated engineering, procurement, and construction services for large-scale industrial projects. The company does not operate a unified software product or platform architecture. Instead, its portfolio consists of project-based services organized by industry sector: Steel Industry Projects (including steelmaking, direct reduction, and rolling mills), Mining and Mineral Processing (iron ore concentration, gold extraction, coal mining), Oil/Gas/Petrochemical Projects (gas collection, NGL recovery, desalination), Wood and Paper Industry facilities, and Project Management/Consulting services. With approximately 50 years of experience and over 144 executed projects, IRITEC serves as a strategic partner in developing Iran's national industrial infrastructure.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• 144+ major projects executed across steel, mining, oil & gas, and petrochemical sectors
• +3 more outcomes

Named customers20 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

17 partnerships are on record, tiered core and minor.

• Kobe Steel (کوبه استیل)coreTechnology or IntegrationKobe Steel (Japan) has licensed MIDREX direct reduction technology to IRITEC, enabling IRITEC to design and construct MIDREX-based direct reduction plants in Iran. This is a core technology partnership that underpins IRITEC's direct reduction execution capability.
• SMS GroupcoreTechnology or IntegrationInternational steel-making technology provider. SMS Group is listed as a cooperating international partner on IRITEC's projects including Hormozgan Steel complex, providing equipment and technology for steelmaking and rolling operations.
• TENOVAcoreTechnology or IntegrationTENOVA is listed as a cooperating international partner on IRITEC projects, providing metallurgical technologies and equipment for steel production.
• DanielicoreTechnology or IntegrationDanieli (Italy) is listed as a cooperating international partner providing steel-making and rolling mill technologies for IRITEC's EPC projects.
• IRASCO (ایراسکو)coreStrategic or Co-development PartnerIRASCO is a long-standing consortium partner of IRITEC on major projects. IRASCO handles procurement of foreign equipment and financing coordination, while IRITEC leads engineering and construction. Key joint projects include Qaenat Steel, Ardabil Direct Reduction, Khorasan Steel, Esfarayen Steel, and Sarcheshmeh Copper Phase 2. IMIDRO owns a significant stake in IRASCO.
• IOEC (Iranian Offshore Engineering & Construction Company)minorStrategic or Co-development PartnerIOEC served as the lead partner in consortium with IRITEC for the Qaenat Direct Reduction project.
• Myonti (میونتی)Technology or IntegrationMyonti is responsible for design and supply of foreign equipment for the lance system project at Hormozgan Steel EAF furnaces, under an understanding between IRITEC and IRASCO.
• PAMICCO (پامیکو) - Construction & Installation CompanycoreImplementation/ SI/ Consulting PartnerPAMICCO is IRITEC's primary construction and installation execution arm for field operations on projects including Ghadir Iranayan Direct Reduction, Erfa Steel Direct Reduction, and Saqez Gold Extraction.
• IMECO - International Engineering & Mining ConsultantsminorImplementation/ SI/ Consulting PartnerIMECO provides specialized mining and metallurgical engineering consulting and design services for IRITEC projects, particularly in the mining and mineral processing sector.
• IRIKA (ایریکا)minorImplementation/ SI/ Consulting PartnerIRIKA is listed among IRITEC Group companies, providing specialized engineering services within the consortium structure.
• IMADCO (ایمپادکو) - International Metallic Materials Production & DevelopmentminorStrategic or Co-development PartnerIMADCO is a shareholder and consortium partner in IRITEC projects including the Ardabil Direct Reduction project, where IMADCO holds a 40% stake in the Artavil Iron & Steel Complex project.
• Metil (فولاد متیل)minorChannel Partner/ Reseller/ DistributorMetil distributes Mobarakeh Steel products in its territory, handling unloading, warehousing, and cutting services. Linked to IRITEC through common ownership/affiliation.
• TAKCO (تامکو) - Industrial Equipment Leasing & TradingminorOthersTAKCO handles leasing, purchase, and sale of machinery and equipment for industrial construction, road/rail construction, building and facility maintenance, and infrastructure works. Linked to IRITEC Group.
• TOKA BetonminorImplementation/ SI/ Consulting PartnerTOKA Beton provides cement-related construction services, civil works, water/sewage pipeline networks, dam construction, tunnel works, and non-destructive testing services.
• BIDEC - Bita Engineering ConsultantsminorImplementation/ SI/ Consulting PartnerBIDEC provides conceptual, basic, and detailed engineering consulting, supervision, and project management services for large industrial projects.
• Foolad Paya (فولاد پایا)minorImplementation/ SI/ Consulting PartnerFoolad Paya provides technical and engineering services including consulting, design, supervision, execution, commissioning, and maintenance for industrial plants, as well as spare parts manufacturing.
• Ika Industries (صنایع ساخت ایکا)coreImplementation/ SI/ Consulting PartnerIka Industries serves as IRITEC's manufacturing and fabrication arm for equipment and steel structures, producing critical industrial equipment for EPC projects.

Scale indicators5 records

Expansion highlights4 records

Broad incumbents

• TENOVA: Italian-based metals and mining technology and EPC firm active in ironmaking, steelmaking, and mineral processing. Listed as a cooperating international partner on IRITEC projects; directly comparable in metallurgical and mining EPC scope.
• Danieli: Italian metallurgical plant builder supplying steelmaking, rolling, and finishing technologies globally. Both a cooperating international partner of IRITEC and an EPC incumbent in the steel plant segment — a hybrid customer/competitor relationship typical of OEMs with turnkey offerings.
• Technicas Reunidas: Spanish EPC major focused on oil & gas, petrochemical, and energy infrastructure projects worldwide. Comparable as a multinational EPC incumbent whose capabilities (refinery, petrochemical, gas processing) map to IRITEC's oil/gas/petrochemical business line.
• SMS group: German metallurgical plant and equipment supplier delivering steelmaking and rolling mill solutions. Listed as a cooperating international partner on IRITEC's Hormozgan and other steel projects; comparable as both technology provider and potential turnkey competitor.
• SAIPEM: Global EPC and drilling contractor serving oil & gas, energy, and infrastructure markets. Comparable at the level of large-scale multi-discipline industrial EPC project execution that IRITEC performs in the oil/gas and petrochemical segments.
• Petrofac: International EPC incumbent serving oil & gas and broader industrial clients with engineering, procurement, construction, and asset-support services. Comparable as a large-scale EPC competitor and benchmark for project execution outside Iran's sanctions perimeter.

Direct peers

• MAPNA Group: Iran's largest state-affiliated EPC and power/industrial contractor, executing turnkey thermal power, gas, and industrial projects. Directly comparable as a domestic Iranian EPC competitor pursuing similar state-owned enterprise tenders with multi-disciplinary engineering and construction capabilities.
• IOEC (Iranian Offshore Engineering & Construction Company): Iranian offshore and onshore EPC contractor active in oil/gas and industrial projects. Listed as a co-consortium partner with IRITEC on Qaenat Direct Reduction, indicating direct overlap on EPC bid teams and capability profiles.
• OIEC (Oil Industries' Engineering & Construction): Iranian EPC firm specialized in oil, gas, and petrochemical plant construction with a state-affiliated shareholder base. Directly comparable as a competitor consortium pursuing overlapping NIOC and petrochemical tenders.

Emerging players

• IRASCO: Iranian consortium partner handling foreign equipment procurement and financing coordination on IRITEC-led EPC projects. Listed as a core strategic partner and jointly-controlled subsidiary, making it both an integrated peer and a captive channel for IRITEC's procurement scope.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/iritec-iran

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries12 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 Iran International Engineering Company