This Joint Venture Agreement is made the Tuesday -6th of December-2016 Between: IEC, Industry and Engineering Corporation Ltd, No., 15C, Lansdowne Road, Wimbledon, London SW20 8AN UK. and CSL, ConcordStroy Ltd, 25, Irkutskaya str., Almaty 050050, Republic of Kazakhstan

Following an international tender held by E. Azerbaijan regional water company, an affiliated company of the ministry of energy, on 07-07-2014 the IECT-ABRIZ was delayed as the winner of the tender

MEMORANDUM OF UNDERSTANDING ON MUTUAL COOPERATION between Akimat (Municipality) of city of Astana and Industry and Engineering Corporation Company is signed in the City of Astana on Monday 12.12.2016.

Phoenix Consulting GmbH and Industry and Engineering Corporation Ltd (PHO & IEC) Joint Venture agreement is made in Frankfurt on 01 of November 2016 between: Phoenix Consulting GmbH (Registered in Germany Cert. No. 83081 AG Frankfurt), Bleidenstrasse. 1, 60311 Frankfurt am Main, Germany and Industry and Engineering Corporation LTD (Registered in England Cert. No. 8269323), No. 15c, Lansdowne Road, Ridgway, Wimbledon Hill Road, London SW20 8AN. U.K.

STUCKY Ltd (hereinafter called “STUCKY”) a company registered in accordance with the laws of Switzerland, whose registered office is Renens, Gellertstrasse 55, 4020 Basel, Switzerland,represented by Mr Brendan Quigley in his capacity of Executive Operation Director and Miss Fitouzeh Aghamohammad in her capacity of Country Manager (Hereinafter referred to as STUCKY ) and

Industry and Engineering Corporation Ltd and MP Business Development (IEC & MPBD) Joint Venture agreement is made in London on 10 of June 2013 between: 1) Industry and Engineering Corporation LTD (Registered in England Cert. No. 8269323), No. 15c, Lansdowne Road, Ridgway, Wimbledon Hill Road,

On Saturday 02-03-1997 , for construction of Baharestan Metro station and Tunnel N2O2 a contract signed between IEC's afiliated company, Mihansaz (Dr N. Y. Rouzegari Managing Director and Dr. F. M. Kalantari) and Tehran Metro Compan, . (Mr. Mohsen Hashemi Managing Director and Chairman of Board and Mr. Masood Ahmadi).

A coopration agreement is made on the 3rd of December 1998, between IAB Ingenieur und Anlagenbau GmbH Germany, Asea Brown Boveri AG, Germany ABB, Dong Ah Construction Industrial Co. Ltd South Korea, IEC's afiliated company, Mihansaz and Mana Construction Co. for a crude via project

On Monday 27-09-2009 , for construction of Narmab dam and irigation canal, a contract signed between IEC's afiliated company, Mihansaz (Dr N. Y. Rouzegari Managing Director and Dr. F. M. Kalantari) and Karadeniz Construction Co. (Mr. Ahmad Yahya Poor Managing Director and Chairman of Board).

On Tuesday 04-01-1996, for construction of Semnan water tunell a contract signed between IEC's afiliated company, Mihansaz (Dr N. Y. Rouzegari Managing Director and Dr. F. M. Kalantari) and POL SANG SANANDAJ (PSS) (Mr S. A. R. BanaeeManaging Director and Mr. A. Yazdgerdi Chairman of Board).