Archive | Construction

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 […]

MP push for Desalination Project in Southern Iran

Iran’s lawmakers passed a legislation calling on the country’s administration to provide at least 30 percent of drinking water in southern provinces through desalination (removing salt from seawater). During an open session of the parliament held on Wednesday to discuss the 6th 5-Year Development Plan, the MPs voted for an article of the plan obliging […]

Iraq to link Rail Network with Iran

By John Lee. Iraq‘s state-run Iraqi Republic Railways (IRR) announced on Tuesday that it plans to link its rail network to that of neighbouring Iran. IRR Information Director Abdul Sattar Mohsen told Anadolu Agency that Iraqi and Iranian officials had already held several meetings to discuss the project. He added that several international companies had […]

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Daewoo signs Power Plant Deal in Iran

By John Lee. South Korea’s Daewoo Engineering & Construction has signed a contract to build a 500-megawatt (MW) combined-cycle power plant in Iran’s southeastern city of Kerman. The estimated value is some $500 million. Under the deal with Iranian investment firm Omid, Daewoo E&C will team with the state-run Korea Western Power and Gohar Energy […]

Iran, Russia sign $2.5bn Construction, Energy Deals

By John Lee. Trade Arabia reports that Russia and Iran have signed a $2.5-billion deal on construction of a thermal power plant in southern Iran and electrification of a railway line. The power station is to be built in Bandar Abbas, while the railway line connects the towns of Garmsar and Incheborun. The countries also […]

Marriott Hotels “Very Keen” on Opportunities in Iran

By John Lee. The President and Managing Director for the Middle East and Africa at Marriott International has said his company is “very keen” to enter the Iranian market. According to a report from Gulf News, Alex Kyriakidis (pictured) told a press conference in Abu Dhabi: “Today, Marriott International, being a United States publicly-floated company, […]