Bharat Heavy Electricals Limited (BHEL)

“Last year, Washington had eased sanctions on Iran, which has enabled Indian companies to explore investment options. The Indian commerce ministry officials had in December last year, met the top brass of SAIL, BHEL and railway infrastructure builder IRCON to consider investing in Iran.” (Trend, "Iran plans to import 200,000 tons of rail tracks from India,” 4/28/14) (http://en.trend.az/regions/iran/2267990.html)

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According to its Company Website, BHEL concluded a contract with Tehran-based company M/s Tosee Siloha Co. in March 2011. (BHEL Website, “DETAILS OF CONTRACTS CONCLUDED DURING THE PERIOD 01.03.2011 TO 31.03.2011”) (http://www.bhel.com/dynamic_files/ccs_files/CONTRACT%20CONCLUDED-MAR-2011.pdf)

In 2017 and/or 2018, the U.S. states of California, Iowa,  New Jersey and Ohio listed BHEL on its state list of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering BHEL ineligible for investment and/or state contracting. (https://www.calpers.ca.gov/docs/forms-publications/iran-sudan-divestment-2017.pdf) (https://www.legis.iowa.gov/docs/publications/DF/861738.pdf) (http://state.nj.us/treasury/purchase/pdf/Chapter25List.pdf) (https://www.op-f.org/Files/Scrutinized%20Companies%20Iran%20Sudan.pdf)

According to a company spokesperson, in 2008 BHEL received a “significant” order from Iran consisting of a Hydrogen Recycle Gas Compressor. (Company Website, “3rd April, 2008 Press Conference Address by Shri K. Ravi Kumar, Chairman & Managing Director, BHEL on Company’s Performance”)   (http://www.bhel.com/dynamic_files/press_files/pdf/PerformanceHighlight200708.pdf)

According to its Company Website, BHEL concluded a contract with Iranian company M/s. jahanparas Group in February 2011. (BHEL Website, “DETAILS OF CONTRACTS CONCLUDED DURING THE PERIOD 01.02.2011 TO 28.02.2011”) (http://www.bhel.com/dynamic_files/ccs_files/CC-FEB-2011.pdf)