Subscribe to FDD

Daelim Industrial Corporation

South Korea

 

According to the company's website, the Daelim Industrial Company has offices in Iran (Daelim Website, accessed October 24, 2011).

Date: 1999 - 2001

Deal: According to the Daelim website, Iran's Shahid Tondguyan Petrochemical (STPC) contracted Daelim to construct the first purified terephthalic acid (PTA) plant in Bandar Imam in 1999. The project was completed in 2001 (Daelim Industrial Corporation Website, accessed March 1, 2012).

Date: May 2003 - Unclear

Deal: A Japanese news agency reported that Petropars Ltd. awarded Daelim, Japan's Toyo Engineering Company and JGC Corporation, and the Industrial Development and Renovation Organization of Iran a contract to build a gas processing plant in the Bandar Assaluyeh region of Iran. Under the $1.2 billion deal, the consortium will "provide design, procurement, construction and commissioning services for a natural gas processing plant with a throughput of 3,000 mmscfd [million standard cubic feet per day] and offsite utilities" (Japan Corporate News Network, May 19, 2003).

Date: February 2007 - Ongoing

Deal: Reuters reported that in 2007 Daelim signed a $300 million deal with the National Iranian Oil Company (NIOC) to build three liquefied natural gas (LNG) and two liquefied petroleum gas (LPG) storage tanks in Tombak, southern Iran, to be completed by August 2010 (Reuters, February 8, 2007). According to APS Review Gas Market Trends, Ghorb Nooh, a subsidiary of the IRGC's Khatam-al-Anbiya, is a partner with Daelim on the project (APS Review Gas Market Trends, April 20, 2009).

Date: March 2007 - Unclear

Deal: An industry publication reported in March 2007 that several international companies had won a contract to upgrade Iran's Esfahan oil refinery. The companies included South Korea's Daelim Industrial Corporation, Germany's Uhde and Lurgi, and Iranian companies Nargan, Namvaran and Chagelesh (Chemical News & Intelligence, March 19, 2007).

Date: June 2009 - Ongoing

Deal: According to an industry publication, NIOC signed a $111 million deal with Daelim to build an LNG plant in Iran in June 2009 (Middle East Economic Digest, June 19, 2009). According to a South Korean news agency, Daelim is expected to complete the project by June 2011 (Yonhap News Agency (South Korea), June 11, 2009).

Date: October 2009 - Ongoing

Deal: Industry news sources reported that Daelim won a contract to build onshore facilities to process gas from phase 12 of Iran's South Pars field. In the project, Daelim is part of a consortium with three Iranian companies: Sazeh Consult, Kayson and Iran Industrial Networks Development Company. Until 2009, the consortium was headed by Spain's Dragados, which dropped out due to political pressure. The deal is reported to be worth around $2 billion (EIU Country Report Select, November 10, 2009).

Date: 2009

Deal: According to The New York Times, a spokesperson from Daelim confirmed that in 2009 it had received a $600 million deal to develop a phase of the South Pars gas field (The New York Times, March 12, 2010).

Ties to U.S. Business: In the United States, Daelim lists offices in Houston, Texas on its website (Daelim Website, accessed June 25, 2010).

According to USASpending.gov, Daelim Industrial Corporation received $134,918,830 from the Department of Defense between 2000 and 2010 (USASpending.gov, accessed June 24, 2010). The New York Times reported that in 2009, the U.S. Army awarded Daelim Industrial Corporation a $111 million contract to build housing on a base in South Korea (The New York Times, March 7, 2010).

Last Updated: July 7, 2014