May 12, 2018 19:10

Austrian LMF to Transfer Compressor Technology to Iran

Technology transfer is a long-term process and it may take Iranian specialists at least seven years to gain the knowledge to produce state-of-the-art compressors domestically

The compressor systems of LMF are manufactured according to international standards.

Developing compressor systems will not be limited to the domestic market, as TAPCO is planning to export its products to neighboring states

The first technology transfer deal to build gas compressors has been signed between TAPCO and the Austrian LMF, managing director of TAPCO said.
"Collaboration between TAPCO—an engineering, trading and service firm—and LMF—an Austrian manufacturer of reciprocating and rotary screw air and gas compressors for industrial and oil and gas industry applications—started two years ago," Shahram Alvandi was quoted as saying by Shana, the National Iranian Oil Company's news agency.
"LMF has been manufacturing high-tech compressor systems in Iran since 2016," Alvandi said, adding that as per the new agreement, the Austrian firm will equip domestic experts with the much-needed know-how to produce the compressors locally.
According to the official, technology transfer is a long-term process and it may take Iranian specialists as long as seven years to gain the knowledge to produce state-of-the-art compressors domestically.

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Iran-Austria Relations