Tag Archives | Hyundai

Hyundai to Deliver 10 Ships to Iran in 2018

South Korea’s HHI to Deliver 10 Commercial Ships to Iran in 2018: Official South Korea’s Hyundai Heavy Industries (HHI) will deliver 10 commercial ships to Iran next year, an Iranian official said. Chairman of the Islamic Republic of Iran Shipping (IRISL) Mohammad Saeedi said that four of the vessels will be container ships with a […]

Iran, South Korea in €720m Rail Deal

Iran Rail Industries Development Company (IRICO) and South Korea’s Hyundai Rotem have signed a contract to jointly manufacture diesel rail-cars for public transport in suburban Tehran. The €720-million contract was signed during a ceremony in the Iranian capital, Tehran, attended by Iran’s Minister of Roads and Urban Development Abbas Akhoundi. Hyundai Rotem will produce 150 cars […]

New Ships Reduce Average Age of Iran’s Fleet

The ten container ships Iran has purchased from South Korea will pull down the average age of the country’s fleet of cargo ships by four years, an official announced. CEO of the Islamic Republic of Iran Shipping Lines (IRISL) Mohammad Saeedi said Iran will take delivery of the first South Korean container ship in the […]

Iran Khodro signs Deal with Hyundai

The CEO of Iran Khodro Diesel (IKD) has announced that his company has restarted cooperation with Hyundai of South Korea. Aliraza Sajedi said: “As one of the oldest partners of Hyundai Company in commercial vehicles, Iran Khodro Diesel Company is going to produce Hyundai’s latest vehicles for Iran’s market. “As always, cooperation with prominent carmakers […]

NITC ‘Closely Looking’ at 1st Post-Sanctions VLCC Orders

Managing director Siroos Kianersi says any contracts would be for renewal not growth at a time when the owner has opened the door for ‘the right pool partners’. Shipowning giant National Iranian Tanker Co (NITC) is exploring the potential for placing its first VLCC newbuilding orders since the easing of international sanctions, says managing director […]

Iran to Import Shipbuilding Technology from South Korea

The managing director of the Islamic Republic of Iran Shipping Lines (IRISL) said the Iran Shipbuilding and Offshore Industries Complex Company (ISOICO) has been introduced to import the technology of building giant ships from South Korea. Speaking to reporters at a press conference in Tehran, Mohammad Saeedi said one of the main plans of the […]

Hyundai Signs $3.2bn Iran Petchem Deal

Iran’s Ahdaf Investment Company and Korea’s Hyundai Engineering Co. (HEC) have signed a deal for a 3 billion-euro ($3.2 billion) petrochemical project, a report said. The agreement covers the construction of the second phase of the Kangan Petro Refining Company. “The financing of this project will be finalized within nine months at the rate of […]

Why Iran’s Auto Ambitions will Benefit Economy, not Consumers

By Alireza Ramezani for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. In February, Iran hosted an international auto show for the first time in 11 years. Some two dozen European, Asian and Iranian brands, including Iran’s longtime French partners Renault and Peugeot, took part in the […]

First Ship from South Korea Next Year: Official

The managing director of the Islamic Republic of Iran Shipping Lines (IRISL) announced that according to a deal to buy 10 giant ships from South Korea, the delivery of the first ship will take place in March 2018. Mohammad Saeedi said the first 14,500 TEU container ship built by South Korea’s Hyundai Heavy Industries Co. […]

Why do Iran’s Conservatives Oppose Deals with Boeing, Hyundai?

By Changiz M. Varzi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iran’s national carrier Iran Air and US aircraft manufacturer Boeing signed a $16.6 billion deal for the sale of 80 passenger jets Dec. 11, despite strong opposition from the US House of Representatives. […]

Iran to buy 10 Ships from S Korea

The Islamic Republic of Iran Shipping Lines (IRISL) and South Korea’s Hyundai Heavy Industries Co. are expected to sign a major contract whereby Iran will buy ten ships from the major South Korean shipbuilding company. Under the expected contract, valued at US$650 million, with IRISL, Hyundai will build four 14,400 TEU container ships and six […]

Iran to Produce Cars in Algeria

The largest car manufacturer in the Middle East, Iran Khodro (IKCO), has taken the first step in establishing a production site in Algeria by launching a joint venture with the African country called IKCO-ALGERIA, and dispatching the required equipment for setting up a production line there. In a meeting with the CEO of Algerian industrial […]

Int’l Oil Firms pitch for Iran Projects

Iran has received the first wave of proposals by major international companies to develop oil and gas projects within the new format of oil contracts recently approved by the administration of President Hassan Rouhani. Ten companies including big European firms such as Total, Lukoil, Shell, Eni, OMV and Asian giants like CNPC, Sinopec and Pertamina […]

Hyundai in Talks with NIOC over Condensate Imports

South Korea’s Hyundai Chemical is in talks with the National Iranian Oil Company (NIOC) to sign long-term contracts and import condensate from the Islamic Republic, a report said. Hyundai Chemical is still in talks with the NIOC for long-term condensate supplies, according to a report carried recently by Reuters. The report added that Hyundai recently […]

IDRO, Hyundai sign Cooperation Document

The Industrial Development and Renovation Organization of Iran (IDRO), a conglomerate active throughout Iran’s economy, and South Korea’s Hyundai Motor have signed a cooperation agreement. Masoud Golshenas, an official with IDRO, said the Iranian conglomerate and Hyundai Motor inked the cooperation document after holding intensive talks. He added that the two companies will implement joint […]

Daewoo signs MOU to build Iran Refinery

South Korea’s Daewoo Engineering and Construction has announced that it has signed a memorandum of understanding with Iranian energy company Bahman Geno to build an oil refinery in Iran. The Chemcial Engineer reports that the tentative US$10-billion deal will see the companies promise to cooperate to build a 300,000 bbl/d capacity refinery in Bandar Jask, […]

Russia Signs Deal to Build Oil Rigs

The Iran Shipbuilding and Offshore Industries Complex Company (ISOICO) has said that it has signed an agreement with Russian shipyard Krasnye Barrikady (Red Barricades) for oil rig construction and technology transfer. ISOICO Managing Director Hamid Rezaian said the agreement will allow his company to take advantage of the Russian firm’s facilities to produce certain equipment. […]