Risk Level:
99% May harm your business future; Persons or entities that engage in transactions with this entity will be exposed to sanctions or subject to an enforcement action;

Working with this entity means supporting Iranian Regime, Regime Terrorist Activities & development of WMD

Status:
Top Alert – Entity designated / sanctioned for terror, WMD and human rights violation

Info:
According to the official website of ASCOTEC, KSC – Khouzestan Steel Company is official business partner with ASCOTEC. KSC – Khouzestan Steel Company is Iranian entity, with an annual capacity of 3.6 million tons KSC – Khouzestan Steel Company is the largest crude steel manufacturer in Iran. Slabs, Blooms and Billets are produced to international standards and exported to the global market;

The ASCOTEC [established in 1990] is owned by the Iranian regime and is subordinate to the Iranian Ministry of Industries and Mines (IMIDRO);

ASCOTEC it is added on November 5, 2018 to the Specially Designated Nationals (SDN) list maintained by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), freezing its assets under U.S. jurisdiction and prohibiting transactions with U.S. parties, pursuant to Executive Order 13599, which targets entities controlled by the Government of Iran and Iranian financial institutions; foreign parties facilitating transactions for the entity or otherwise assisting the entity are subject to U.S. sanctions;

(Iran Foreign Investment Company (IFIC) and ASCOTEC – Report) – “More than 25 years ago the Iranian AHWAZ STEEL COMPLEX (ASCO), renamed later as KHOUZESTAN STEEL COMPANY, had the intention of establishing an offshore company to handle their foreign purchase of spare parts and machinery. As a result, in October 1990, ASCOTEC GmbH was founded in Düsseldorf / Germany with an initial capital investment of 100.000 Deutsche Mark to serve this duty. Due to its strategic business location Düsseldorf was chosen for the establishment of this important company…”

Involved In:
Missile Weapon Program

Also Known As:
Khouzestan Steel Company KSC
KSC

Established:
1989

Country:
Iran

Address:
10 Km Bandar Imam Khomeini Road, PO Box 61397-31398, Ahwaz, Iran

Phone:
98 611 227 89 00

Website:
www.ksc.ir

E-Mail:
info@ksc.ir

Person of interests:
Ali Mohammadi KSC Managing Director

Articles/Reports:
Iran Foreign Investment Company (IFIC) and ASCOTEC – Report

Reason for the color:
» Added to the Specially Designated Nationals (SDN) list maintained by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on January 10, 2020 pursuant to Executive Order 13871 for operating in the iron, steel, aluminum, or copper sectors of Iran;
» Ascotec is involved in the procurement of goods for Iran missile program;
» Has been affiliated with AscoTec (a.k.a. Ascotec GmbH), a steel company active in Iran and owned by subsidiaries of the National Iranian Steel Company (NISCO), which is affiliated with the Iranian Ministry of Industry and Mines;


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IFMAT Color Guide

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We sort entities who are connected with terrorist activities, in two sections, first by risk and second by geolocation.
GeoLocation divisions are divided into two fields, Black List and Gray List.
BlackList is a list of all companies, organizations and figures who originate from Iran.
GrayList is a list of all companies, organizations and figures out of Iranian borders, and doing business with Iran.
We identify risk of entities by COLOR selection, each color marks the risk level of the entity.(by declining order)
 
TOP ALERT
Designated / Sanctioned / Illicit entities
 
HIGH ALERT
Entities affiliated with Designated / Sanctioned / Illicit entities.
 
MEDIUM ALERT
Entities sanctioned in the past for Terror or Illicit activities / WMD related / Human rights violations.
 
RISK ALERT
Entities in a problematic sector - Sector controlled by the Top Alert entities.
 
GENERAL ALERT
Legitimate entities - we cannot determine whether an entity is completely green, and that is due to the facts that the Iranian economy is not transparent enough for us. Be sure.