Archive | Investment

Finnish Fast Food Chain Opens in Tehran

By John Lee. Finnish fast food chain Hesburger has opened an outlet in Tehran. The restaurant, in Tehran’s Pars district, is run by a local franchise entrepreneur. Hesburger CEO Kari Salmela said: “Iran has a market of 80 million customers, who don’t yet have access to Western burger restaurants … We see it as an […]

$21bn Capex for Iran’s Oil Projects by 2021

Almost $21 billion in capital expenditure (capex) will be spent by Iran on oil projects between 2018 and 2021 to ensure that production grows to around 4.9 million barrels per day in 2021, according to leading market research and analysis firm GlobalData. The region will have 66 fields producing liquid hydrocarbons by 2021, of which […]

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 […]

Iran “Keen to Invest” in Zimbabwe’s Private Sector

By John Lee. Iran’s Ambassador to Zimbabwe, Ahmad Erfanian, has reportedly said that several private companies from Iran were holding discussions with their local counterparts regarding business opportunities in Zimbabwe. He said in an interview in Harare: “We believe that with the new [administration led by President Mnangagwa], a lot of opportunities opened up in […]

What’s behind Iran’s massive Capital Flight?

By Bijan Khajehpour for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. A prominent Iranian member of parliament’s recent statement about a significant outflow of capital from the country has raised eyebrows. Commenting on the foreign exchange fluctuations in March, parliamentary economic commission head Mohammadreza Pourebrahimi said some $30 […]

Iran, Russia discuss Increased Cooperation

Top officials from the parliaments of Iran and Russia met in Tehran on Monday to coordinate policies for closer cooperation and enhanced economic relations between the two countries under a framework of parliamentary interaction. Speaking at a joint press conference in Tehran with Vyacheslav Volodin, the speaker of Russia’s State Duma, Iranian Parliament Speaker Ali […]

$27bn needed for Steel Development

Platts reports that Iran’s steel industry needs about $27.4 billion in new investment to achieve a target of 55 million mt/year of production capacity by 2025. The data, from the Iranian Steel Producers’ Association, says about $16.4 billion is needed for infrastructure projects, with around $10 to be invested directly into steelmaking and raw materials […]

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Iran eyes $4bn in Developing two Oilfields

Iranian Minister of Petroleum Bijan Zangeneh says Iran expects to generate a total of 4 billion dollars by developing Aban and West-Paydar oilfields that it shares with neighboring Iraq. Addressing a ceremony to sign a contract to develop the two fields here in Tehran on Wednesday, the official said oil recovery from the two fields […]

Gas Executive becomes UK Ambassador to Iran

Mr Rob Macaire CMG has been appointed as the UK’s Ambassador to the Islamic Republic of Iran in succession to Mr Nicholas Hopton, who will be transferring to another Diplomatic Service appointment. Mr Macaire will take up his appointment in April 2018. Mr Macaire rejoins the diplomatic service following five years as Director of Government/Public […]

Free Trade Zones to Attract $4.5bn in FDI

The secretary of the Supreme Council of Iran’s Free Trade, Industrial and Special Economic Zones said the country has signed new contracts with foreign companies, attracting $4.5 billion worth of investment in free trade zones. “Investors from Turkey, China, Italy, France and South Korea have invested in (Iran’s) free zones…,” Morteza Bank said on Saturday. […]

Iran, Azerbaijan Finalize 12 Agreements

Delegations from Iran and the Republic of Azerbaijan held a new session of a joint commission on mutual cooperation in Tehran, finalizing 12 agreements that the two sides had drafted in the past. The 12th meeting of Iran-Azerbaijan Intergovernmental Commission for Economic, Trade and Humanitarian Cooperation was held in Tehran on Tuesday, co-chaired by Iranian […]

Finland, Denmark, Sweden agree deal with Iran’s IDRO

The ambassador of Finland to Tehran said Helsinki, Copenhagen and Stockholm have signed an agreement with Iran’s IDRO Group to improve cooperation in various fields, including oil and renewable energies. “Finland, Denmark and Sweden signed an MoU with IDRO of Iran to promote collaboration in in the fields of oil & gas, high-tech, transportation, renewable […]

NIOC to Establish Fund to Finance Oil Projects

The Managing Director of National Iranian Oil Company (NIOC) Ali Kardor said plans are under way to introduce project funds for financing Iran’s recovery and maintenance projects in oil industry. Addressing the 2nd International Congress and Exhibition of Oil Exploration and Production and the 5th International Congress and Exhibition of Iran’s Drilling Industry here in […]

TSE attends Euro-Asian Stock Exchanges session

By John Lee. During the session, the Secretary-General of FEAS submitted a report on the actions taken and the duties assigned. The FEAS members exchanged views on the general policies of FEAS and the membership status of the Istanbul Stock Exchange. Also, the necessary changes and amendments were made to the FEAS Statutes. It was […]

Iran Oil Investment likely to Jump: Expert

An expert in oil market says a huge investment tide is under way in Iran’s oil industry provided that financial interactions of the country and the world normalize. Speaking to Shana, Mahdi Asali, a veteran expert in oil market and political energy economy, said if Iran’s international relations become normalized and stable, and the country’s […]

Currency Crisis shakes Rouhani’s Middle-Class Base

By Saeed Jalili for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Barely over a month after economic grievances, mainly among the working class, sparked deadly protests across the country, fluctuations in the value of the Iranian currency — the rial — have generated grave disappointment with another key […]

15 Projects with over $880m Credit in Hormozgan

President’s arrived at Hormozgan Airport minutes ago to meet with people and open a number of industrial and construction projects in the southern province. Upon arrival at Bandar Abbas International Airport, Dr Hassan Rouhani was welcomed by the Supreme Leader’s Representative to Hormozgan province Ayatollah Gholamali Naeim Abadi, Governor General of Hormozgan province Fereydoun Hemmati, […]

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 Attracts $10bn in Foreign Investment Post-JCPOA

Iranian Minister of Industry, Mine and Trade Mohammad Shariatmadari said the country has managed to attract $9.7 billion in foreign investment since the coming into force of the 2015 nuclear deal with six world powers, known as the Joint Comprehensive Plan of Action (JCPOA). Addressing a festival held in Tehran in support of the country’s […]