Iranian Company Neutralizes Sanctions by Producing High-Pressure Pumps for Oil Industry
Fanavaran Electromechanics Caspian Company, which is operating in Gilan province, was founded 30 years ago, but it has been operating at the incubator center of the Islamic Azad University, Gilan branch.
Ali Towhidi, the managing director of the company, told ANA that Caspian is among the first knowledge-based companies which were registered in the country.
The company has so far supplied its products to the Oil Industry’s Research Center and some oil laboratories at universities nationwide.
Such kinds of pumps were already imported from the United States and France at very high prices, said Towhidi, adding, “But after the sanctions were imposed on the country, we make attempts to manufacture the pumps domestically."
He made the remarks on the sidelines of the Islamic Azad University's "second step of revolution" under the title of Asreh Omid Event which was held in Tehran's Mosalla from May 29 to June 01, 2022.
The event aimed to exhibit new achievements and products in the technological and innovation arenas in line with opening new windows towards strengthening the idea of creating ground for knowledge-based businesses at the 40th anniversary of the establishment of the Islamic Azad University.
Some 3,000 knowledge-based companies, laboratories, research centers, and startups took part in Asreh Omid Event.
In 2011, the company started to design and test the pumps so that currently the company’s products can compete with foreign-made rivals at very lower prices.
Towhidi stressed that the products are ready to be exported to the Persian Gulf littoral states if the company is supported by related authorities.
In line with the law enforced on May 24, knowledge-based production is a priority of the government so the plan for promoting knowledge-based products has progressed well so far.
To this end, the Vice Presidency for Science and Technology has executed and supported several projects toward the goal of boosting knowledge-based production.
Currently, the country's knowledge-based ecosystem accounts for more than three percent of GDP, and the figure is projected to reach five percent.
According to the Innovation and Prosperity Fund, Iranian knowledge-based companies marketed their products in 70 countries, and in some global markets have overtaken European and American companies.
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