Archive | Industry

$220m Investment in Tyre Factory

By John Lee. Arya Tire Hamoon Industrial Company, a subsidiary of the Industrial Development and Renovation Organization of Iran (IDRO), and Dam and Water Works Construction Company (SABIR) have signed an agreement to build a tire manufacturing plant in the city of Zabol. The minister of industry, mining, and trade, and the minister of cooperatives, […]

Iran’s Iron Ore Concentrate Production Up 43%

By John Lee. Major Iranian iron ore companies produced 6,053,900 tonnes of iron ore concentrate during the two-month period from 20th March to 21st May 2017, a 43 percent increase on the 4,225,579 tonnes produced in the corresponding period of last year. Gol-e-Gohar Company ranked first with production of 2,140,000 tonnes of iron ore concentrate. […]

FATF’s Decision Guarantees Banking Ties with Iran

Iran’s ambassador to Britain said a recent decision by the Financial Action Task Force (FATF), the policy-making body of the international financial system, to continue the suspension of anti-Iran sanctions would guarantee the country’s banking ties with foreign countries. In a post on social media, Hamid Baeedinejad pointed to the FATF’s meeting in Spain on […]

Austria Seeks Tax Agreement with Iran

Austria’s Minister of Finance Hans Jorg Schelling said his country is seeking to sign a double taxation agreement with Iran. In a meeting with Iran’s foreign minister in Tehran on Sunday, Schelling said he has visited Iran with the purpose of boosting bilateral economic and financial relations. Voicing Austria’s eagerness to develop joint training programs […]

Swiss firms to build 300 MW of Solar in Iran

Swiss investors reportedly plan to build a 300-MW photovoltaic (PV) solar park n the North Khorasan province. Construction is scheduled to begin within four months, ANA News Agency said, with the company being responsible for the design, construction, installation and commissioning of the plant. Alireza Sabouri, managing director of North Khorasan Power Distribution Company told the […]

Iran Eyes Boom in Trade with EAEU after Trade Deal

An Iranian minister expressed the hope that the volume of trade exchange between Tehran and the Eurasian Economic Union (EAEU) would rise under a much-awaited free-trade agreement. Iran is hoping to increase the volume of commercial exchange with the EAEU members as soon as a free-trade agreement with the union is signed, Iranian Minister of […]

Iran to Rank Third in Asian Biotech Medicines

Iran will rank third in Asia in terms of production of biotech medicines within the next three years, a senior official at the office of the vice-president for science and technology affairs announced. “Currently, the number of biotech medicines in the world market is 146, of which 20 are available in the Iranian market,” Mostafa […]

FM Zarif in Kazakhstan for SCO Summit

Iranian Foreign Minister Mohammad Javad Zarif is in Kazakhstan capital of Astana to attend the Shanghai Cooperation Organization (SCO) summit. Zarif arrived in the Astana on Thursday to participate in the two-day SCO summit and the opening ceremony of Astana Expo 2017. Iran’s formal membership of the SCO will also be on the agenda of the summit. The SCO […]

Iran’s Larijani Raps US for Imposing Sanctions

Iranian Parliament Speaker Ali Larijani slammed Washington for its recent move to impose new sanctions against Tehran following twin terrorist attacks in Tehran claimed by Daesh (ISIS or ISIL) terror group, saying the US government is supporting terrorists. “At a time when the Iranian nation was facing the terrorist incidents, the US Senate shamelessly approved […]

Iran, Turkey sign Trade Deals worth $100m

By John Lee. Iran’s Social Security Investment Company (Shasta) has reportedly signed contracts worth $100 million with Turkish firms for construction projects and modernisation of the Arvandan shipbuilding facilities in Khuzestan province. The AFP report also says that the deal includes Iranian construction of a $10-million catamaran — a high-speed double-hulled passenger vessel with an […]