Labourers work at the construction site of a building in Tehran, Iran January 20, 2016. REUTERS/Raheb Homavandi/TIMA
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Long used to lucrative state contracts, Iran's construction company faces leaner times, as overseas firms better able to attract financing push for orders in an economy trying to open to the world after years of sanctions.The Guard has not hesitated to make their displeasure public.KAA's dominance looks likely to fade as President Hassan Rouhani's administration draws up plans for huge infrastructure projects to jump-start the economy after international sanctions over Iran's nuclear program were removed in January, industry executives and analysts say.KAA had expressed interest in the project but offered to provide only 40 percent of the required financing, reported the Tasnim news agency, which is close to the Guard.Since February, KAA has proposed participating in over 10 mega-projects but the government has not agreed in a single case, said a businessman who operates in the oil and gas sector and has direct contacts with senior Iranian officials.Reza Mostafavi Tabatabaei, a London-based oil analyst who has worked on projects in Iran, said it would be wrong for the Iranian government or foreign firms to count the company out.
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