Archive | Construction

Russia Ready to Electrify Tehran-Tabriz Railway

Russian Railways is ready to help electrify Tehran-Tabriz railway to connect the Iranian capital to the northwestern city, First Vice President of the Russian Railways Operator Alexander Misharin said. This issue was discussed today with the President of the Islamic Republic of Iran Railways (RAI) Saeed Mohammadzadeh, Misharin added, the Tass news agency reported on […]

India’s NALCO puts Iran Project on hold

By John Lee. India’s National Aluminium Company Ltd (NALCO) has put its overseas projects on hold in order to focus on expanding domestic capacity. The company signed a memorandum of understanding (MoU) with the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) last year to explore the possibility of setting up a joint […]

Iran’s Housing Crisis aggravated by Reluctant Sellers

By Ali Dadpay for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iran’s enduring housing recession has cost many Iranians their dream of homeownership while depleting their purchasing power due to higher rent. The housing sector is unlikely to return anytime soon to the days when […]

Iran Building 2 Sports Arenas in Iraq

During a visit to Iraq, an Iranian deputy minister was updated on the latest status of two sports arenas that Iranian companies are constructing in Baghdad. Mojtaba Khosrotaj, Iran’s deputy minister of industry and head of the Trade Promotion Organization of Iran (PMOI), held a meeting with Iraq’s minister of youth and sports and with […]

Iran Cancels Airport Expansion Deal with French Firm

Iran’s deputy road minister said the country has called off a memorandum with the French company Bouygues for development of Tehran’s Imam Khomeini international airport after the European side failed to meet its commitments. In an interview with Tasnim on Saturday, Asghar Fakhrie Kashan said the memorandum with France on development of Imam Khomeini airport […]

Hamedan-Tehran Railway Starts Operation

President Rouhani ordered Hamedan-Tehran railway to start operation, a 276km project that has been completed with $258m credit. At the opening ceremony that was held on Monday morning, Dr Rouhani travelled a distance by the train and officially opened the railway. The President entered Hamedan province last night and was welcomed by the Governor General […]

Korean Firm Sign Deals for Electrical Projects

Iran’s state-run holding company Tavanir signed two agreements with Korea Electric Power Corporation (KEPCO) for cooperation in electrical projects using state-of-the-art technology. Based on the agreements, signed in Tehran on Saturday, the South Korean company will help Iran recover SF6 gas (sulphur hexafluoride) in the electricity industry in compliance with the Clean Development Mechanism (CDM), […]

Rotana to Open 1st Hotel in Iran ‘Soon’

The head of Rotana hotels group, based in Abu Dhabi, said it plans to open its first hotel in Iran in less than a year. “We have signed hotels in Tehran, Mashhad and Isfahan. We expect to open our first hotel in Mashhad, a shrine city, by the first quarter of next year,” Rotana’s President […]

Iran, Russia to jointly build 2 Nuclear Power Plants

By John Lee. Xinhua reports that Iran will start construction of two nuclear power plants in cooperation with Russian experts, The Iranian Energy Minister, Hamid Chitchian (pictured), is quoted as saying: “The contract has been signed between the Atomic Energy Organization of Iran (AEOI) and Russia, and includes building two 1,000-megawatt nuclear power plants, the construction […]