Archive | Construction

Chinese firms help to update Tehran Metro

By John Lee. According to Tehran Times, the Chinese military-affiliated Norinco International won a 93 million euro ($100 million) contract to manufacture 70 subway cars for the Tehran Metro. The cars will be sold to Tehran Wagon Manufacturing Co., a joint venture formed between Norinco, with a 29% stake, together with Tehran’s official subway operator, […]

Tender for Karun II Dam and Power Station

Iran Water and Power Resources Development Company (IWPCO) has invited tenders for the Karun II Dam and Power Plant project in Khuzestan province. The project is being offered through a Public-Private Partnership (PPP) on Build, Operate and Transfer (BOT) basis. The Karun I and Karun III dams are located downstream and upstream of Karun II, […]

Construction Begins on Bushehr-2 Nuclear Power Plant

March 14, 2017 saw the start of works at the Bushehr-2 Nuclear Power Plant. The ceremony was attended by representatives of the Principal – Nuclear Power Production & Development Co. of Iran (NPPD), namely: Mr. Jafari, Bushehr NPP Project Manager, Mr. H. Ghaffari, BNPP Operating Co. Managing Director, Mr. A.R. Moradian, OCE Co. Managing Director […]

$3bn needed for Airport Development

By John Lee. The Iranian government is reportedly seeking private investors to fund a $3-billion expansion of the airports at Mehrabad, Imam Khomeini, Tabriz, Mashhad, Isfahan, Kerman and Shiraz. Trade Arabia reports that Iran has already gathered around $2.35 billion in foreign investments through memorandums of understanding, and secured $650 million in firm contracts. Among […]

$1bn Deal to Develop Iranian Zinc Mine

By John Lee. The state-run Iranian Mines and Mining Industries Development and Renovation Organisation (IMIDRO) has signed a deal with a consortium of six private companies to develop Mehdiabad, one of the world’s largest zinc mines. The group is led by the Mobin mining company, and the deal will involve “mine operation and construction of […]

Govt to buy 2Mt of Cement from Local Producers

By John Lee. Iran’s Ministry of Roads and Urban Development has reportedly agreed to purchase 2Mt of cement from local producers. According to Global Cement, Iran’s Bank Maskan (Housing Bank) will finance the road building plan and the cement producers will receive the money in cash. Abdolreza Sheikhan, secretary of Iran’s Cement Industry Employers Association, […]

Iranian Govt Earmarks $462m for Rail Expansion

By John Lee. Financial Tribune reports that the Iranian government has earmarked 18.5 trillion rials ($462 million) to complete a set of ongoing rail projects. Jabbar Ali Zakeri, a board member of the Construction and Development of Transportation Infrastructure Company (CDTIC), was quoted by IRNA as saying: “This includes 4.7 trillion rials ($117 million) for […]

Daewoo to set up Iranian Shipbuilding Company

By John Lee. The Industrial Development and Renovation Organization of Iran (IDRO) and Daewoo Shipbuilding and Marine Engineering Co. Ltd. (DSME) have signed Heads of Agreement (HoA) to set up a Joint Venture to develop an Iranian shipyard. The Iranian government has said it will strongly support this business cooperation, and requests the Korean Government […]

Iran, Italy discuss EUR 4bn Rail Projects

The Iranian Railroad Company’s Director General for International Affairs Abbas Nazari said Tehran and Rome are in negotiations over Italy’s investment in two rail projects in the Islamic Republic worth 4 billion euros. “We are in dialogue with Italian investors about Qom-Arak and Tehran-Hamedan high-speed railroad lines and the needed fleet (of trains),” Nazari told […]

Rouhani’s Social Housing Scheme faces Bumpy Start

By Alireza Ramezani, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Why Rouhani’s social housing scheme faces more than bumpy start After a two-year delay, Iranian President Hassan Rouhani’s administration is preparing to implement its social housing program. The scheme aims to provide 570,000 residential […]