Tag Archives | China

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 Awards Tire-Plant contract to Linglong

China’s Shandong Linglong Tire Co. Ltd (Linglong) has signed an agreement as the EPC and non-EPC contractor for the construction of a greenfield tire plant in Iran, according to a senior official there. Speaking to ERJ, Massoud Mohammadi, CEO of Arya Hamoon Tire Co. said Linglong is expected to provide production technology for the project, […]

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 […]

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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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 […]

VP: Foreign Financing in Iran Facilitated by JCPOA

The Joint Comprehensive Plan of Action (JCPOA) has eased Iran’s access to foreign financing for major projects in the country, First Vice-President Eshaq Jahangiri said, adding that agreements to receive $12 billion in foreign funds have been finalized. Addressing an economic meeting on foreign fund reserves on Monday, Jahangiri said the JCPOA, the nuclear agreement […]

Chinese Direct Investment in Iran up 20%

By John Lee. The General Manager of the Iranian Investment Organization has said China’s direct investment in Iran has increased by 20 percent. Mohammad Khazaei told the Iran and China Investment and Business Opportunities Forum that Chinese companies have invested $2.3 billion in Iran since 2013. The Deputy Minister of Economic Affairs and Finance added […]

Why Protests won’t Change Iran’s Foreign Policy

By Hamidreza Azizi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. While the recent unrest in Iran has eased, discussion on its various aspects — including its causes and implications — is still heated and ongoing among domestic as well as foreign analysts and observers. One important part of […]

Total’s Gas Deal Going Ahead

Iranian Minister of Petroleum Bijan Zangeneh said the National Iranian Oil Company (NIOC)‘s gas deal with French energy giant Total is being executed on schedule and all the project’s tenders, excluding one for drilling operations, have been held. The official said all the contractors, except for one, who have signed in the tenders are domestic […]

Stricken Iran Oil Tanker Sinks

The Iranian oil tanker which hit a Chinese freighter last Saturday sank after all efforts to save its 32 on-board crew members failed. The tanker, which carried 970,000 barrels of crude oil, collided with a Chinese balk freighter in East China Sea on January 6, killing all the 32 crew members. Rescue operations began by […]

New US Sanctions on Iran: Full Details

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated 14 individuals and entities in connection with serious human rights abuses and censorship in Iran, and support to designated Iranian weapons proliferators. “The United States will not stand by while the Iranian regime continues to engage in human rights abuses and injustice.  […]

Rescue Teams to enter Stricken Iranian Tanker

Rescue Teams will enter Stricken Iran Tanker after Blaze is controlled: NITC Firefighting operations to extinguish a burning Iran oil tanker in the East China Sea has begun and rescue teams will enter the tanker as soon the blaze is controlled, National Iranian Tanker Company (NITC) says. Spokesman of an emergency committee of the Iranian […]

Iranian Oil Tanker Continues to Burn: Report

An Iranian oil tanker continues to burn off the coast of Shanghai, days after it collided with a bulk ship and caught fire, a report said. One crew member has been found dead, while 31 others remain missing as firefighters continue to battle the blaze. “Searchers have found the body of one of the missing […]

Official Denies China’s Ban on Investment in Iran

Head of Iran-China Joint Chamber of Commerce denied reports about the Chinese government’s ban on investment in Iran, saying more and more investors from China are visiting Iran for business activities. In an interview with Tasnim on Saturday, Asadollah Asgaroladi pointed to the rising number of Chinese delegations visiting Iran to weigh investment opportunities, saying […]

Iranian Oil Tanker Giving Off Poisonous Gases: NITC Chief

An Iranian oil tanker, which caught fire after colliding with a bulk freighter off China’s east coast, is giving off poisonous gases, hindering rescue work there, the managing director of the National Iranian Tanker Company (NITC) said. Leakage of the poisonous gases have hindered rescue work and cleanup efforts around the oil tanker Sanchi, which […]

Sinopec to Upgrade Iran’s Abadan refinery

China’a Sinopec Engineering has announce that the Group has agreed an engineering, procurement and construction (EPC) contract with the National Iranian Oil Engineering and Construction Company in relation to Phase II of the Abadan refinery upgrade. The Group puts the value of the contract at RMB6.858 billion ($1.06 billion). (Source: Sinopec)

China keen to use Chabahr Port to access Pakistan

China Keen to Use Iran’s Chabahr Port to Transit Goods from Gwadar: Official Iran has received a request from China to establish a connection between Pakistan’s Gwadar port – which Chinese companies are developing – and Iran’s southeastern port of Chabahar, an official said. Abdolrahim Kordi, the managing director of Chabahar Free Trade Zone, was […]

Iran Eyes Turkish Investment in Oil, Gas Industry

Iran’s Parliament speaker voiced the country’s willingness to attract investment from Turkey in the oil and gas industry, saying economic activists from the neighboring state could also seize the opportunities available in Iran’s railroad and aviation sectors. In a meeting with his Turkish counterpart on the sidelines of a counterterrorism conference in Islamabad on Monday, […]

Iran welcomes Chinese Private Investors in Oil Projects

Iranian Minister of Petroleum Bijan Zangeneh said Iran and China enjoy extended relations in energy sector, calling on Chinese private investors to finance petroleum projects in Iran. Speaking at a meeting with visiting Wang Yanguo, Chairman of the Presidium, Vice President and Secretary General of China International Chamber of Commerce for the Private Sector (CICCPS), […]

CNPC may take over South Pars if Total Pulls Out

The China National Petroleum Company (CNPC) plans to take over Total’s stake in Iran’s South Pars gas field if the French energy giant fails to stick to its contract with Tehran due to new US sanctions, a report said. CNPC officials have held internal talks in recent weeks to discuss the implications of taking control, […]