Tubacex S.A. as one the subsidiaries of TUBACEX GROUP is a thriving, buoyant and fast expanding Spanish company primarily engaged in the steel industry. Underlying, in part, the successful expansion of this thriving business in Iran is Hatami & Associates and its expert teams of legal advisors. Tubacex S.A. has signed a deal worth $630 million with the National Iranian Oil Company and Sanat Foolad Aliyazan Isfahan Company which is one the most notable agreements with NIOC following JCPOA. 

Pursuant to the deal, a part of CRA pipes will be imported into the country and a further part will be manufactured by SFAI Company using imported raw materials, and the related knowhow as well as the required technology for manufacturing alloy steel pipes. In this manner, the foregoing manufacturing technologies and the knowhow shall be completely transferred to the Iranian party. The project involves  the production of 600 kilometers of “corrosion resistant alloy” pipelines ordered by Pars Oil and Gas Company and will result in Iran’s self-sufficiency in production of CRA pipes right here at home. This is the type of post-JCPOA deal that Iran has been striving towards that not only leads to attracting foreign investment but also includes the critical transfer of technology and knowhow to the domestic parties through utilization of “local content” in the implementation phase of the deal.  

Hatami & Associates is honored to have supported Tubacex S.A. in this project by providing legal advice as to the underlying agreements, clarifying legal and contractual obligations of the client during the course of the project, and assisting it in implementation of the project.  

Providing legal opinions as to the appropriate corporate structure for entering Iran’s market in terms of legal and tax related matters, registration of the client’s subsidiaries in the Free Trade and Industrial Zones as well as Special Economic Zones of Iran for running the project, and provision of legal consultation regarding regulations on importation and exportation of raw materials and final goods while also taking into account complicated labor issues in relation to employment of locals and foreigners are amongst the highlights of Hatami & Associates’ achievements in providing excellent legal services to Tubacex S.A. concerning this CRA project.