Info:
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Bonab Steel Industry Complex pursuant to E.O. 13871 for operating in the steel sector of Iran;
Bonab Steel Industry Complex is a subsidiary of Mahan Mines and Industries Development Company (PLC), according to their official website. Mahan Mines and Industries Development Company (PLC), as one of the major investment companies of Tourism Financial Group, has been established with the aim of investment in specialized plans and projects of the Industries and Mines domain in the country;
The Iranian metals sector is an important revenue source for the Iranian regime, generating wealth for its corrupt leaders and financing a range of nefarious activities, including the proliferation of weapons of mass destruction and their means of delivery, support for foreign terrorist groups, and a variety of human rights abuses, at home and abroad;
Action was taken pursuant to Executive Order (E.O.) 13871, which imposes sanctions on several sectors of the Iranian economy, including Iran’s steel sector, that continue to generate significant revenue for the Iranian regime;
(The long list of corrupt Iranian officials – Jan 7, 2021) – In November 2020, an agreement between the Tourism Finance Group headed by Mehdi Jahangiri and the Khatam al-Anbia headquarters affiliated with the Revolutionary Guards setting out 20 trillion tomans [$0.8 billion] for the development of Bonab Steel Complex;
(Strategic corruption in Iran – Feb 12, 2020) – By a counteract Kayhan daily revealed only a handful of activities of Jahangiri’s brother, Mehdi Jahangiri, who was arrested for corruption and wrote:
“Mehdi Jahangiri, head of tourism finance and vice president of the Tehran Chamber of Commerce, brother of the vice president, founder of Tourism Bank, director of the Iranian Cultural Heritage and Tourism Investment Company, which could establish six major satellite companies in a small-time.”
“Chairman of the Board of Directors of Bonab Steel Industry Complex, Member of the Board of Directors of Handball Federation, Chairman of the Board of Directors of Negin Tourism Company, Chairman of the Board of Directors of Mahan Industries and Mines Holding Company, etc.” (Kayhan, 6 October 2017);
Partners:
1. Tourism Finance Group headed by Mehdi Jahangiri
2. Khatam al-Anbia headquarters
Industry:
Steel Industry
Also Known As:
Mojtame Foulad Shahin Bonab
Shahin Bonab Steel Complex
Organization Established Date:
2005
Country:
Iran
Address:
No 17, Sarbalai Valiasr, Tavanir Bridge, Tabriz City, Iran
Bonab Industrial Zone, Bonab, East Azerbaijan, Iran
PO Box 51576-13533, Tabriz City, Iran
Phone:
0098-41-4122
Website:
www.mfbco.ir
E-mail:
info@mfbco.ir
National ID No.:
742 (Iran)
Person of interests:
Mr. Abbas Ebrahimi; Chairman of the Board
Mr. Nader Keshtkar; Member of the Board
Mr. Sadeg Jahed Khatibi; Member of the Board
Mr. Hosein Rahmati; Member of the Board