Controls companies involved in work for Iran's nuclear and missile programs and is involved in the foreign procurement of related manufacturing technologies, according to the European Union.

Oversees subsidiaries involved in the oil, gas, energy, machinery, metals, and industrial services industries.

Subsidiaries include:

Machine Sazi Arak (MSA)
Machine Sazi Tabriz (MST)
Mashin Sazi Pars (Machine Sazi Pars Company)
Iran Khodro Company
Advanced Manufacturing Research Center
Iranian Standard and Quality Inspection (ISQI)
Pars International Development and Engineering Company (PIDECO)
Press Iran
Gostaresh Steel Industries Contracting Company (G.S.I.CO)
The Rail Transportation Industries (RTI)
Tolide Adavate Keshavarzi Arak (TAKA)
Heavy Duty Pump and Water Turbine Mfg Co (PETCO)
Tabriz Machine Sazi Foundry Company (TMFCO)
Nosaz
Industrial Development & Renovation Construction Company (MANA)
Industrial Management Institute (IMI)
Shahrake Tahgigatie Kavosh
Sadraomid Chabahar
Petroleum Equipment Industries Company (PEIC)
Jovain Electrical Machines Industries Company (JEMCO)
Aviation Industries of Iran (AII)
Iran Heavy Diesel Engine Mfg Co (DESA)
Arvandan Shipbuilding Company (ASC)
Petrochemical Down Stream Industries Development Co (PDSID)
Iran Rail Industries Development (IRID)
Entrepreneurship Development Company of Iran (EDCO)
Luleh Gostar Esfarayen Company (LGECO)
Institute for Productivity & Human Resource Development (IPHRD)
Machinery & Equipment Lorestan Company (MSL)
Esfarayen Industrial Complex (ESFST)
Modiriat Projehaye Sakhtemany Iran (MAPSA)
Industrial Projects Management of Iran (IPMI)
Iranian Welding Research & Engineering Center Portal (IWREC)
Magfa ITDC (Information Technology Development Center)
Iran Industrial Consultants (IIC)
Nashr Gostar
Industrial Renovation Company Of Iran (IRCI)
Neyerperse
Nimeh Hadi Emad
SAIPA
Iran Tractor Manufacture Company (ITM)
Rena Industrial Group
Iran Shipbuilding & Offshore Industries Complex (ISOICO)
Advanced Material Industrial Development Co (AMIDCO)
Life Science Industry Development Company (LIDCO)
Burgmann-Pars

A state-owned enterprise associated with Iran's Ministry of Industries and Mines; Rostam Qasemi has reportedly served as board member; reportedly was the client and "indicated recipient" of $1.3 million worth of remote manipulators to be shipped to Iran via the United Arab Emirates; established in 1967.

Sanctions

As part of the re-imposition of U.S. sanctions on Iran, added on November 5, 2018 to the Specially Designated Nationals (SDN) list maintained by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC), freezing its assets under U.S. jurisdiction and prohibiting transactions with U.S. parties, pursuant to Executive Order 13599, which targets entities controlled by the Government of Iran and Iranian financial institutions; foreign parties facilitating transactions for the entity or otherwise assisting the entity are subject to U.S. sanctions.

Previously added to the SDN list on August 3, 2010, pursuant to the Iranian Transactions Regulations; removed from the SDN list in January 2016 as part of the Joint Comprehensive Plan of Action, but identified as a part of the Government ofIran, prohibiting transactions with U.S. parties.

Sanctioned by the government of Canada, restricting business and financial transactions with the entity and freezing its assets

Listed by the European Union on July 26, 2010 as an entity linked to Iran's proliferation-sensitive nuclear activities or Iran's development of nuclear weapon delivery systems; removed from the E.U. list in January 2016 as part of the Joint Comprehensive Plan of Action.

Listed by the British government in 2015 as an entity of potential concern for WMD-related procurement, but removed in 2017 after the U.K. withdrew its Iran list.