Jihad-e Nasr, a quasi-state enterprise, has been revealed as the backbone of Iran's "resistance economy" — the self-reliant system that has sustained the country through multiple wars, including the current conflict, and waves of economic sanctions. The conglomerate has monopolized Iran's major infrastructure projects for 40 years and was nominally privatized but has in reality served as a financial pipeline closely linked to the supreme leader and the ruling establishment.
According to Iran International, a London-based Iranian opposition outlet, Jihad-e Nasr has amassed wealth by carrying out more than 1,500 infrastructure projects across diverse sectors including water resources, land development, housing construction and energy, the outlet reported on June 2 local time.
Jihad-e Nasr was established in 1985 — six years after the 1979 Iranian Revolution — with backing from the Mostazafan Foundation, an Iranian state foundation. In its early years, the organization secured its growth base through ties with the agriculture ministry. After the Iran-Iraq War, which lasted from 1980 to 1988, it took charge of urban reconstruction projects including new town development in Tehran, public housing projects, and construction of subway and telecommunications infrastructure. Government-commissioned projects such as Iran's judiciary and statistics agency buildings also fell under its purview.
Notably, Jihad-e Nasr participated in the construction of security-sensitive facilities including the Bushehr nuclear power plant and the access road to the Saghand uranium mine.
"Jihad-e Nasr started with just four companies at its founding but has grown into a massive group with a network of at least 170 companies as of 2025," Iran International reported. "The enterprise has carried out approximately 1,500 major projects over the past 40 years since its establishment, and its influence has expanded by taking on projects involving trillions of rials (billions of dollars) in state budgets." For Iran, which had to grow its economy through state-led efforts without foreign trade, Jihad-e Nasr became a critical instrument.
