Subscribe to FDD



Date: June 2005 – Unclear

Deal: The Tehran Times reported that in June 2005, the Spanish company Dragados signed a contract with the National Iranian Gas Company (NIGC) to build a refinery, Bid Boland 2, in Khuzestan (Tehran Times, June 25, 2005). The Economist Intelligence Unit stated that the contract was signed with a consortium of companies, including British Costain Company, and two Iranian firms, Jahanpars and Sazeh (The Economist Intelligence Unit, July 12, 2005).

Dragados' position in the project is unclear, as Iran's Shana news service reported in August 2009 that while the project required an investment of one billion Euros, the "National Iranian Gas Company has entered into negotiation with Chinese and Italian Contractors" for the refinery (Shana (Iran), August 15, 2009).

According to an industry publication, the company reportedly pulled out of the project in 2009 as a result of political pressure (Country Report Select, November 10, 2009).

Ties to U.S. Business: According to, Dragados has not received any U.S. government contracts in the last 10 years (, accessed June 24, 2010).