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;