HEPCO

HEPCO, short for Heavy Equipment Production Company, is an Iranian industrial manufacturer headquartered in Arak. Its business has centered on the assembly and production of heavy equipment for construction and road building, while also encompassing railroad cars, trucks, forklifts and machinery used in oil, gas, power generation, metals and mining. The company is described in reference material as the largest heavy-equipment manufacturer in the Middle East, with approximately 1,500 employees and an annual production capacity of about 4,800 units, although the timing of those operating figures is not specified. HEPCO was established and registered in 1972 with the objective of developing domestic heavy-equipment assembly and manufacturing capability. It resumed operations at its Arak premises in 1975. The site was described as covering roughly one million square meters, including a production hall of approximately 40,000 square meters. During its early development, HEPCO collaborated with international equipment manufacturers including Navistar International, Dynapac, Poclain, Sakai Heavy Industries and Lokomo. These relationships supported the production and assembly of equipment in Iran and helped establish the company as a local supplier to infrastructure and industrial projects. In 1984, HEPCO designed a development project with Liebherr and Volvo focused on fabricating steel structures for construction equipment. This represented an effort to move beyond basic assembly toward broader industrial production and engineering capability. Over time, the company's portfolio expanded across several heavy-equipment categories, including road-building machinery, mining equipment, lifting and material-handling products, transportation equipment and machinery for major industrial sectors. The company's ownership and operating condition became politically and economically contentious after Iran's 1979 Islamic Revolution. Reference material states that HEPCO was subsequently taken over by organizations and individuals connected to officials of the Islamic Republic. It was later transferred to the private sector under Iran's privatization program in 2006. The privatization was followed by recurring labor disputes and protests, with workers objecting to management, ownership and unpaid or delayed obligations. The workforce reportedly fell sharply from around 8,000 employees to approximately 1,000 during the company's period of decline. Labor unrest included confrontations between factory workers and Iranian security forces. Some protesters were reportedly injured or detained. The reference material says that the factory eventually shut down in 2021, but it also reports a later export of 23 heavy machines to Africa in 2025. Because these statements do not establish whether the company resumed normal production, HEPCO's current operating status is best treated as uncertain. Its historical importance remains tied to Iran's industrialization policy, domestic production of capital goods and the difficulties faced by large state-linked or privatized manufacturers during periods of financial and managerial instability. In 2020, HEPCO signed five memoranda of understanding connected with plans to manufacture a total of 900 road-building machines during the first and second years of the arrangements. The counterparties and associated organizations included the National Iranian Copper Industry Company, Mobarakeh Steel Company, Gol Gohar Mining and Industrial Company, Chadormalu Mining and Industrial Company, Mining Investment Insurance Company and Iran Mine House. The plan linked HEPCO's production capacity to the equipment needs of Iran's mining and metals industries. HEPCO therefore occupies a distinctive position in Iran's industrial landscape: it is both a heavy-machinery brand and a case study in the effects of privatization, labor conflict, industrial policy and sanctions-era supply constraints.

HEPCO was established and registered in Iran in 1972 to assemble and manufacture heavy equipment. Its principal industrial base was developed at Arak, where operations resumed in 1975 on a site reported to cover approximately one million square meters, with a production hall of around 40,000 square meters. The company formed technical and commercial collaborations with several international manufacturers, including Navistar International, Dynapac, Poclain, Sakai Heavy Industries and Lokomo. These relationships helped HEPCO build capabilities in the assembly and production of construction and road-building machinery for Iran's developing infrastructure sector. A further development project was designed in 1984 in cooperation with Liebherr and Volvo. The project focused on the fabrication of steel structures for construction equipment and reflected HEPCO's attempt to deepen its manufacturing base rather than remain solely an assembler. Its industrial scope subsequently covered construction machinery, railroad cars, trucks, forklifts and equipment for oil, gas, electricity, metals and mining. HEPCO was created before Iran's 1979 Islamic Revolution. According to the reference account, it was later seized by organizations and individuals associated with officials of the Islamic Republic. The company was transferred to private-sector ownership as part of Iran's privatization program in 2006. The privatization period was followed by recurring disputes involving workers, management and ownership arrangements. Protests took place at intervals, and confrontations with security forces reportedly resulted in injuries and detentions. The workforce declined from an estimated 8,000 employees to approximately 1,000 during the company's deterioration. In 2020, HEPCO entered into five memoranda of understanding with organizations connected to Iran's mining and metals sectors. The agreements contemplated production of 900 road-building machines over the first and second years. The initiative involved the National Iranian Copper Industry Company, Mobarakeh Steel Company, Gol Gohar Mining and Industrial Company, Chadormalu Mining and Industrial Company, Mining Investment Insurance Company and Iran Mine House. It was intended to connect HEPCO's manufacturing capabilities with the equipment requirements of major mining and industrial operators. The reference material describes the factory as having eventually shut down in 2021 after the prolonged period of labor and ownership conflict. However, it also records the export of 23 heavy machines to Africa in 2025. This later export suggests that some commercial or production activity may have continued or resumed, but the available material does not establish the company's current corporate structure, workforce, production level or legal status. HEPCO is therefore best understood as an historically significant Iranian heavy-equipment manufacturer whose present condition requires verification.

• 2025

  Reported African export

  [1]HEPCOen.wikipedia.org

  HEPCO is reported to have exported 23 heavy machines to Africa, although the company's broader operating status is not established by the available material.

• 2021

  Reported factory shutdown

  [1]HEPCOen.wikipedia.org

  Reference material reports that the Arak factory eventually shut down following years of labor conflict and operational decline.

• 2020

  Road-building equipment production plan

  [1]HEPCOen.wikipedia.org

  Five memoranda of understanding establish a plan for HEPCO to manufacture 900 road-building machines for Iranian mining and industrial organizations.

• 2006

  Privatization

  [1]HEPCOen.wikipedia.org

  HEPCO is sold to the private sector under Iran's privatization program, after which the company becomes the subject of recurring ownership and labor disputes.

• 1984

  Construction-equipment steel fabrication project

  [1]HEPCOen.wikipedia.org

  HEPCO designs a development project with Liebherr and Volvo to fabricate steel structures for construction equipment.

• 1975

  Operations resume at the Arak facility

  [1]HEPCOen.wikipedia.org

  HEPCO resumes operations at its large industrial premises in Arak and begins developing manufacturing relationships with international equipment companies.

• 1972

  HEPCO is established

  [1]HEPCOen.wikipedia.org

  Heavy Equipment Production Company is established and registered in Iran to assemble and manufacture heavy equipment.

An Iranian domestic heavy-equipment and industrial-machinery manufacturer serving construction, road infrastructure, mining, metals, energy and transportation applications.

• Construction machinery

  Construction and road-building equipment

  HEPCO's core historical product area consists of heavy machinery for construction, civil engineering and road building. The company developed these capabilities through domestic production and cooperation with international manufacturers. A 2020 plan specifically targeted the manufacture of 900 road-building machines for Iranian mining and industrial organizations.

• Mining and industrial equipment

  Mining and industrial machinery

  HEPCO manufactures or has manufactured equipment intended for mining, metals, energy, oil and gas applications. This positioning makes the company a supplier of capital goods to sectors requiring large-scale excavation, material handling, infrastructure construction and industrial maintenance.

• Transport and material-handling equipment

  Railroad cars, trucks and forklifts

  Beyond construction machinery, HEPCO's reported manufacturing scope includes railroad cars, trucks and forklifts. These products broadened the company from a construction-equipment producer into a wider heavy-transport and material-handling manufacturer serving industrial customers.

• Industrial components · 1984

  Fabricated steel structures

  A 1984 development project undertaken with Liebherr and Volvo focused on fabricating steel structures for construction equipment. The project represented an important step in HEPCO's manufacturing and engineering development.

• 2020

  Partnership plan for 900 road-building machinesStrategy

  Background

  Iranian mining and metals companies required road-building machinery, while HEPCO sought to use its industrial capacity and maintain a role in domestic capital-goods production.

  Action taken

  HEPCO signed five memoranda of understanding with the National Iranian Copper Industry Company, Mobarakeh Steel Company, Gol Gohar Mining and Industrial Company, Chadormalu Mining and Industrial Company, Mining Investment Insurance Company and Iran Mine House. The plan covered production of 900 machines during the first and second years.

  Aftermath

  The available material does not confirm how many machines were ultimately delivered or whether the full plan was completed.

  Source

• 2006

  Transfer to private-sector ownershipStrategy

  Background

  HEPCO was included in Iran's privatization program after a period in which the company had been controlled by organizations and individuals linked in the reference account to Islamic Republic officials.

  Action taken

  The company was sold to the private sector.

  Aftermath

  The privatization was followed by recurring labor protests, ownership disputes, workforce reductions and reports of operational decline.

  Source

1. 1HEPCOen.wikipedia.org