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Toyo Engineering Corporation

Japan

 

 

According to its website, the Toyo Engineering Company has an office in Tehran (Toyo Website, accessed July 27, 2010).

Date: June 2000 – Unclear

Deal: In 2000, Toyo Engineering became the head of a consortium that included Iran's Sazeh Consultants, South Korea's Shinhwa Engineering & Construction Company and Japan's Mitsui & Company, to build the Number 4 aromatics plant in Bandar Assaluyeh, according to a Toyo press release. The contract was worth ¥43 billion ($505 million) and Toyo was responsible for designing, procuring equipment, and supervising the construction of the project, which was scheduled for completion in June 2004. The project's primary Iranian operator is Borzouyeh Petrochemical Company, a wholly-owned subsidiary of Iran's National Petroleum Company (Toyo Engineering Press Release, June 8, 2000).

South Korea's LG E&C (now GS E&C) later joined the consortium, according to an industry publication (Hydrocarbon Processing, September 26, 2000). As of September 2005, the Tehran Times reported that the plant was 94 percent complete (Tehran Times, September 27, 2005).

Date: May 2001 – 2006

Deal: In 2001, Toyo Engineering and the Japanese firms Chiyoda Corporation and Mitsui & Company won a contract from Iranian firm Petrochemical Industries Design and Engineering Company (PIDEC) to build a petrochemical plant in the Assaluyeh region, according to a company press release. The plant planned to use gas from the South Pars field to produce up to 2,050 tons per day (t/d) of ammonia and 3,250 t/d of urea, making it the largest fertilizer plant in the world. At the time, the plant was expected to be finished by mid-2004 (Toyo Engineering Press Release, May 24, 2001).

According to Chiyoda's website, the project was completed in 2006 (Chiyoda Website, accessed July 28, 2010).

Date: May 2003 – ongoing

Deal: Toyo Engineering Company stated in its 2009 annual report that it had won a contract to build a gas processing plant in Iran in 2003, as part of a joint venture with Japan's JGC, the Industrial Development and Renovation Organization of Iran (IDRO) and South Korea's Daelim Industrial Company (Toyo Engineering Corporation Annual Report 2009).

Toyo's website lists the Iranian firm Petropars Ltd. as the owner of the project. (Toyo Website, accessed July 27, 2010).

Date: April 2004 – 2009

Deal: In April 2004, Iran's Shana news agency reported that Iran's Petrochemical Industries Development Management Company had awarded Toyo Engineering and Chiyoda Corporation another contract to build an ammonia plant and a urea plant in Assaluyeh. Under the terms of the deal, Toyo was responsible for the ammonia plant, which was worth approximately $230 million (Shana (Iran), June 8, 2004).

The project was scheduled to be completed in 2006, according to Business Wire. The consortium won the contract without competition because of its "successful execution of the first project and the application of an export credit by Japan Bank for International Cooperation (JBIC) and Nippon Export and Investment Insurance (NEXI)" (Business Wire, April 12, 2004). According to Toyo Engineering Corporation's 2009 Annual Report, the project was completed during the company's fiscal year ending March 31, 2009 (Toyo Engineering Corporation Annual Report 2009).
Date: September 2005
Deal: In September 2005, Toyo won a contract to provide consulting services to Iran's National Petrochemical Company (NPC) "on seismic design for all new petrochemicals projects and those already under construction," according to Middle East Economic Digest. At that time, Toyo was also in discussions with NPC to examine all plants that have already been built to ensure that they are protected from earthquake damage (Middle East Economic Digest, September 30, 2005).

Date: 2005

Deal: According to Toyo's website, the company collaborated with Japan's INPEX Corporation on the development of a new oil field in Iran. Toyo's services included engineering, procurement, and construction project execution support (Toyo Engineering Website, accessed July 28, 2010).

Date: November 2006

Deal: According to the Middle East Economic Digest, in 2006, a consortium headed by Iran's Petrochemical Industries Design & Engineering Company (PIDEC) won a $300 million contract for the engineering, procurement and construction of units at the Shiraz Fertilizer Company (SFC), using Toyo's technology for a urea unit at the site. (Middle East Economic Digest, December 1, 2006).

U.S. Business Ties: According to the company's website, Toyo has a subsidiary called Toyo USA Inc., located in Houston, Texas. The company has a wide range of business activities, including procurement services, engineering, plant and facilities construction, and market development (Toyo Website, accessed July 27, 2010).

According to USASpending.gov, Toyo Engineering has not received U.S. government contracts (USASpending.gov, accessed August 20, 2014).

Last Updated: August 20, 2014