Iran Transfo Co.

Following an agreement signed in 1961 between the Tehran Regional Electricity Company and Siemens, Iran Transfo Company (Private Joint Stock) was established in 1966 with a capital of 239,852,100 Rials. The company was formed through a partnership comprising the Tehran Regional Electricity Company (45%), Siemens Germany (45%), and the Industrial and Mining Development Bank of Iran (10%), and preparations began for the construction of a factory on a 54,000-square-meter site in Shahr-e Rey, at the start of the Qom road. To align transformer production capacity with national demand—considering the ever-increasing electricity consumption and government plans—a development project involving two factories was initiated in 1975 on a one-million-square-meter site located five kilometers east of the city of Zanjan.