Archive | Construction

Scottish-based Engineering Firm to Exit Iran

Scottish-based engineering company Weir Group has reported that performance in its international businesses was weaker in the first half of the year, reflecting market conditions and the exit from recently won contracts in Iran following the recent re-imposition of US sanctions. (Source: Weir)

Russia Begins Work to Electrify Railroad in Iran

Russian Railways has begun works on the electrification of a railway line in Iran, the head of Russian Railways company said. The project, worth $1.2 billion, will electrify a railroad connecting the city of Garmsar near Tehran with Incheboron near the border with Turkmenistan. The length of the Garmsar- Incheboron railway line is 495km. The […]

Iran Manufactures First Domestic Rail Tracks

Esfahan Steel Company (ESCO) has announced that the first domestically-constructed rail tracks have been handed over to Iran’s Railways, saying the rails are on par with the latest global standards. ESCO announced on Monday that the first domestically-constructed rail tracks have been handed over to Iran’s Railways, the Medi Telegraph reported on Tuesday. The rail […]

Iran Rail signs Contract with Swiss Firm

Iran’s state-owned railroad company signed a contract with Swiss company Matisa for the maintenance and supply of railroad machines. According to the contract, Matisa, the Swiss manufacturer of track maintenance equipment that was established in 1945, will carry out the overhaul of two ballast machines in Iran. Apart from making repairs on nine other ballast […]

Iran’s Housing Sector keeps Building

By Maziar Motamedi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. In Iran, the housing sector — which accounts for a hefty 35% of all household expenses — has since 2011 been in the grip of its worst recession in recent history. Indeed, it was the only […]

IRGC Construction to Finish 40 Mega-Projects by Yr-End

Commander of Khatam al-Anbia Construction Base, a conglomerate belonging to the Islamic Revolution Guards Corps (IRGC), pledged that his forces will complete 40 mega-projects in the current Iranian year, which began on March 21. Addressing a meeting on “Resistance Economy” at the Lorestan gubernatorial office in west Iran, General Ebadollah Abdollahi said the Khatam al-Anbia […]

Aiding Iraq in Reconstruction Iran’s Priority

Aiding Iraq in Reconstruction Iran’s Priority after Daesh Defeat: Defense Minister Iranian Defense Minister Brigadier General Amir Hatami said that following the defeat of the Daesh (ISIL or ISIS) terrorist group in Iraq, Iran’s priority in its cooperation with Iraq now is helping the Arab country in its reconstruction process. In a meeting with Iraqi […]

Tags: ,

Iran offers Russia €3bn Rail Electrification Projects

By John Lee. Iran has reportedly proposed rail electrification projects worth 3 billion euros to Russia. Alexander Misharin (pictured), Russian Railways First Vice-President, has said the projects include electrifying 3,000 kilometers of rail lines. He told Russia’s Sputnik news agency: “Three-thousand kilometers, a big project. We agreed to sit down at the negotiating table and […]

Sinomach signs $836m Railway Project with Iran

China National Machinery Industry Corporation (Sinomach) has signed a cooperation agreement with Iran to build a railway expansion project in the country. Costing 5.35 billion yuan ($836.87 million), the railway line connects Tehran, Hamadan and Sanandaj, with a total length of 470 kilometers. According to the agreement, Sinomach Heavy Industry is responsible for the design, […]

Iran Plans Major Boost to Tehran Int’l Airport

Under a multi-billion-euro project to expand Tehran’s Imam Khomeini International Airport (IKA), new terminals would be built that, along with the existing one, could handle 100 million passengers a year, an official said. Speaking at a press conference on ideas for the design of a new air terminal dubbed “Iran-Shahr”, Shahram Adamnejad, CEO of Imam […]

Swiss Firm Denies Major Infrastructure Deal with Iran

Switzerland’s Stadler Rail denied reports that it signed a $1.4 billion infrastructure contract with Iran for 960 wagons for an underground railway system. In a statement on Friday, Stadler Rail said there was no deal or decision between Tehran and Bern but merely a public tender, Swissinfo website reported. This is while the Swiss embassy […]

UK-based Mining Firm in Iran Deal

UK-based Alexander Mining has announced that it has executed a commercial and technical partnership agreement with Turkish specialist mineral processing consulting company Proses Mühendislik, Danışmanlık, İnşaat ve Tasarım AS (“Proses”). The Agreement covers the potential application and use of Alexander’s proprietary processing technologies and know-how (“MetaLeach Technology”) in the Middle East, including Turkey and Iran […]

Speaker Requests Iran’s Help in Reconstruction of Iraq

Iraqi Parliament Speaker Salim al-Jabouri praised Iran for supporting the Arab country in the fight against terrorism, calling for Tehran’s continued assistance and partnership in the reconstruction and development of Iraq. In comments at a Sunday meeting in Iran’s Baghdad embassy, held to mark the victory anniversary of the Islamic Revolution, Jabouri expressed the hope […]

Tags: ,

Iran, India Sign Major Rail Deal

Iran and India have signed a deal worth 2 billion US dollars for cooperation in the rail sector, a report said. The agreement was inked Friday in India’s capital New Delhi in the presence of Abbas Akhoundi, Iran’s minister of roads and urban development, and his Indian counterpart Nitin Gadkari, the report said, according to […]

Iran, India to Finalize Railroad Project Deal

During a planned visit to New Delhi, Iran’s Minister of Roads and Urban Development and his Indian counterpart are expected to make the final decision about details of a deal on financing a railroad linking the Iranian southeastern cities of Zahedan and Chabahar, an official said. In a meeting with India’s ambassador to Tehran, Iranian […]

Iran exports Steel Rebar to Iraq

Iran’s South Rouhina Steel Complex has reportedly sent 500 tons of rebar to Iraq. The Iranian trade attaché to Iraq, Naser Behzad, is quoted by IRNA as saying that the consignment was worth $250,000. ‘Exports to Iran have paved the way for sending standard goods,’ he said. South Rouhina Steel Complex has the capacity to […]

Will Tehran be able to withstand ‘long overdue’ Quake?

By Zahra Alipour for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Is an earthquake likely to occur in Tehran? What will happen if there is an earthquake in Tehran? These questions have recently been discussed in Iranian media and among the public in the aftermath of […]

Iran Boosts Condensate Exporting Capacity

Iran has improved Asalouyeh Gas Condensate Export Terminal so that three vessels can call at the terminal for loading gas condensate (ultralight crude oil) at the same time. Head of the terminal Gholamabbas Heidari said very important measures have been taken in the terminal for facilitating export of the item which include bolstering infrastructures as […]

Iran “Keen on Keeping Ties” with Norwegian Shipbuilders

An Iranian tanker official says facilitating banking relations between Iran and Norway is a necessity for boosting ties of the two countries in shipbuilding industries, voicing Iran’s keenness to maintain relations with Norwegian shipbuilders. Addressing the Iran-Norway Bilateral Maritime Opportunities conference in Oslo on Thursday, Managing Director of the National Iranian Tanker Company (NITC) Sirous […]