TEHRAN – Khatam-al Anbiya Construction Headquarters managed to save the country more than $7 billion by localizing the equipment in some industries including oil and gas within five years, according to its commander.

Speaking on Saturday on the occasion of organizing Iranian Technical and Engineering Capabilities’ Exhibition, Commander of Khatam al-Anbiya Construction Headquarters Saeid Mohammad added, “despite sanctions imposed against the country, competent domestic companies managed to cut dependency on foreign companies especially in oil and gas industries.”

Turning to the activity of Khatam-al Anbiya Construction Headquarters in the oil and gas sector, he stated, “the HQ, in cooperation with the private sector, succeeded in indigenizing more than 70 percent of large industries including steel and copper in sanctions period.”

In this exhibition, a contract was inked between Khatam-al Anbiya Construction Headquarters and Esfahan Steel Company (ESC) in the field of manufacturing national rail, he highlighted.

He pointed to the key role of the private sector and added, “Khatam-al Anbiya Construction Headquarters has stood by the private sector for the economic prosperity of the country.”