Archive | Industry

Iran, Spain Sign MoUs in Tehran

A top Spanish delegation, led by Foreign Minister Alfonso Dastis, signed two memorandums of understanding on political and economic cooperation with Iran on Wednesday. The senior Spanish diplomat and his accompanying team held a meeting with Iranian Foreign Minister Mohammad Javad Zarif in Tehran, discussing bilateral and regional issues. Touching on the history of relations […]

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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 […]

Iranian, Dutch FMs Discuss Closer Ties

Iranian Foreign Minister Mohammad Javad Zarif and his Dutch counterpart, Sigrid Kaag, exchanged views about a range of issues, including ways to promote bilateral relations between the two countries in diverse political and economic fields. Meeting in Tehran on Wednesday, the two sides discussed the latest regional and international developments and explored avenues for the […]

Iran to Withdraw from JCPOA If Benefits Remain Elusive

Iran will withdraw from the 2015 nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA), if there is no economic benefit and major banks continue to avoid cooperation with the Islamic Republic, the deputy foreign minister said on Thursday. Under the deal with Britain, China, France, Germany, Russia and the United States, Iran […]

Iran to process Russian Wheat for Iraqi Flour Market

By John Lee. Iran is said to be negotiating a deal to import around 100,000 tonnes of wheat per month from Russia, enabling private millers it to increase flour exports to Iraq. Iraq imports about 3 million tons of flour a year, almost half of its demand of 6.9 million tons a year. According to […]

Big Growth Expected in Iran’s Car Market

By John Lee. Iranian car maker Iran Khodro (IKCO) expects Iran’s car production to hit 3 million units annually by 2025, of which 60 percent (1.8 million units) would be produced by IKCO, up from 24 percent in 2016. Addressing Iran’s 5th Automotive Industry International Conference in Tehran on Tuesday, company CEO Hashem Yekehzare (pictured) […]

Iran, Azerbaijan Relations Warm Up after Years of Frost

By Saeid Jafari for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. The collapse of the Soviet Union in 1991 was followed by the independence of several states in the Caucasus, including the Republic of Azerbaijan. While the newfound Azerbaijani state has not enjoyed warm ties […]

Total CEO Urges Trump to Honor JCPOA

The head of French oil major Total has urged US President Donald Trump to stick with the 2015 nuclear deal between Tehran and world powers, a report said. Total’s CEO Patrick Pouyanne said he had raised the topic of Iran with Trump at a dinner in Davos in January, and asked the president to keep […]

France to Urge Firms to Do Business in Iran

France will encourage its firms to do business in Iran despite nuclear deal limbo, a senior French finance official said on Thursday. “France will encourage its firms to do business in Iran” despite uncertainty over the landmark 2015 nuclear deal putting the business environment in limbo, Joffrey Celestin-Urbain, director of bilateral relations at the French […]

China Reports Rise in Trade with Iran

Data released by the Chinese Customs Administration indicate that the value of China’s trade exchange with Iran in 2017 has increased by 19 percent compared to the previous year. Figures show that trade turnover between Iran and China has stood at $37.18 billion in 2017, around 19 percent higher than 2016. China’s exports to Iran […]

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Japan to Fund Medical & Environment Projects in Iran

By John Lee. The Japan International Cooperation Agency (JICA) has reportedly signed two grant agreements in Iran: one with Iran’s Health Ministry to provide grant aid of up to 1.534 billion yen (nearly $14 million) for medical testing and treatment equipment; and, one with Tehran Municipality to provide grant aid of up to 1.242 billion yen […]

RIPI develops Membranes for Water Treatment

The Research Center of Petroleum Industry (RIPI) has developed polymer membranes used for treating contaminated water. Fatemeh Rekabdar, responsible for membrane project at RIPI, has described membrane technology as one of the most advanced technologies in the world, saying: “This technology is one of the best ways to clean water and wastewater in various industries […]

JICA to Finance two Iranian Power Plants

By John Lee. The Thermal Power Plants Holding Company has reportedly signed an agreement with the Japan International Cooperation Agency (JICA) for two power plants in Iran. Managing Director Mohsen Tarztalab said the agreement covers the Shahid Mofateh and Shahid Rajai power plants. He added that JICA’s estimated facilities for the two plants is $800 million. […]

Revival of Silk Road to Serve Iran’s National Interests

Head of Iran Chamber of Commerce, Industries and Mines Gholam Hossein Shafei said the revival of the ancient intercontinental Silk Road trade route could serve the Islamic Republic’s national interests. Addressing a meeting of the International Conference of Asian Political Parties (ICAPP) in Tehran on Saturday, Shafei pointed to the initiative of the Silk Road […]

700 MW of Clean Electricity to Be Added

Iran’s deputy energy minister said about 700 megawatts (MW) of electricity generated by the country’s clean power plants will be added to the national grid by late September 2018. Speaking to the Islamic Republic of Iran Broadcasting (IRIB), Seyed Mohammad Sadeqzadeh said the number of power plants generating electricity from renewable resources such as wind […]

Projects worth over $2.2bn open in Kerman

Projects in Golgohar Mining and Industrial Complex and other economic and infrastructural projects in Kerman province worth over 100 trillion rials ($2.2bn) have been opened in the presence of President Rouhani. Dr Hassan Rouhani also opened line 7 of ironstone concentrate production with a production capacity of 2 million a year. To construct the complex, […]

Iran’s Steel Production Target “Achievable”

By John Lee. According to a report from Platts, Iran’s target of boosting its steelmaking capacity from about 33 million mt/year now to 55 million mt/year by 2025 is achievable and could even be met ahead of deadline. Mohammad Abka, managing director of steel sector consultancy FIECO, is quoted as saying that the industry might […]

Iran “in Talks” to Purchase Daewoo Appliances

Entekhab Industrial Group, Iran’s largest home appliances maker, appears likely to buy South Korean appliance manufacturer Dongbu Daewoo Electronics, a report said. NH Investment & Securities Co., the South Korean lead manager, has been in talks with Entekhab’s consortium with the aim of signing a stock purchase agreement by the end of this month, they […]

Discussions on Iran-Iraq Ties

Iran’s Ambassador to Baghdad Iraj Masjedi and Leader of Iraq’s National Alliance Ammar al-Hakim weighed plans for closer cooperation between the two neighbor and discussed the latest developments in the region. In a meeting in Baghdad, the Iranian ambassador and the Iraqi politician discussed the most recent political and security developments in Iraq and the […]

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