Archive | Industry

Iran among World’s Most Powerful Economies by 2050

Iran will be among the biggest and most powerful economies in the world within the next three decades, a recent study showed. According to the study carried out by professional services giant PwC, Iran will be among 32 most powerful economies in the world by 2050. The report, titled “The long view: how will the […]

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Athos Solar completes first Green-Field Solar Plants in Iran

Athos Solar GmbH, based in Heidelberg, Germany, recently became the first investor to install and launch two high-performance green-field photovoltaic plants in Iran. The two systems, located in the province of Hamadan near Tehran, have a surface area of ten hectares each, making them the first of their scale in Iran. Further, their combined peak […]

“Retrospective Application of an Increase in Excise” hits BAT

By John Lee. In its full-year results, British American Tobacco (BAT) has announced that its volume and profit in Iraq were lower due to the retrospective application of an increase in excise. The company makes and sells cigarette brands including Kent, Dunhill, Pall Mall, and Rothmans. (Source: British American Tobacco)

Iran Eyes Finalization of FTZ Deal with EAEU

Iran’s First Vice-President Eshaq Jahangiri expressed the hope for finalization of arrangements for creation of a free trade zone (FTZ) with the Eurasian Economic Union (EAEU) before President Hassan Rouhani’s upcoming visit to Russia. In a meeting with First Deputy Prime Minister of Russia Igor Shuvalov in Tehran on Tuesday, Jahangiri voiced the country’s willingness […]

Tehran, Moscow Start Construction of Power Plant at Bandar Abbas

Iran and Russia have started constructing a thermal power plant in the southern city of Bandar Abbas, a report said. According to the report carried by Sputnik on Monday, Tehran and Moscow began the construction of the thermal power plant during a ceremony attended by Russian Energy Minister Alexander Novak. The plant, with a capacity […]

Polish Tractor Firm in Iran Deal

By John Lee. Polish tractor producer Ursus signed a memorandum of understanding with the Tabriz-based Iran Tractor Manufacturing Company (ITMCo). Under the deal, the companies will cooperate in the use of components to produce tractors in the 47-150 hp power range, dedicated to the markets where both companies currently operate. They will also start a […]

Indigo Holdings acquires 5% of Iranian Car Share App

Indigo Holdings plc, the Middle East focused Investment Company, has acquired a 5% stake in the Iranian car ride-sharing app, Carvanro, after investing €176,800 in its Series A fundraising round. Carvanro is a car ride-sharing marketplace aggregator, which connects drivers and passengers embarking on the same car journeys. It provides a flexible and transparent platform […]

Iran keen to Increase Electricity Supply to Pakistan to 3,000 MW

By John Lee. Iran is reported to be keen to increase its electricity supply to Pakistan from 130 megawatts to 3,000 megawatts. According to Pakwired, the Iranian Consul General to Pakistan, Ahmad Mohammadi, told an event in Karachi: “The expansion of ties with neighboring countries is one of the priorities of Iran’s foreign policy and […]

Turkish Retailer Eyes Business Opportunities in Iran

A well-known Turkish retailer has voiced its willingness to find business opportunities in Iran after the termination of anti-Iran sanctions a year after implementation of the nuclear deal between Iran and the world powers. Turkish discount retailer BIM said it is exploring opportunities in Iran for possible opening of stores in the country. The supplier […]

Diamond Grading company enters Iran

By John Lee. HRD Antwerp, the Belgian diamond-grading group, has announced a first Certified Diamond Grader course in Tehran. The course will be run at the end of April 2017 in collaboration with local consultant Alireza Feizollahi. HRD Antwerp’s primary shareholder is the Antwerp World Diamond Centre (AWDC). (Sources:, HRD)