Tag Archives | Isfahan

Russia’s Energy Minister Urges Closer Ties with Iran

Russian Energy Minister Alexander Novak expressed his country’s determination to promote cooperation with Iran. Addressing a ceremony in Iran’s central city of Isfahan on Monday night, Novak described Russia and Iran as good neighbors and partners, saying the two nations are resolved to continue and enhance mutual cooperation. The Russian energy minister was speaking at […]

Austrian Airlines drops Isfahan and Shiraz Routes

By John Lee. Austrian Airlines has announced that it will stop flights to the Iranian cities of Isfahan and Shiraz. In a statement, the company said: “Isfahan and Shiraz in Iran will already no longer be represented in the Austrian Airlines flight offering as of the middle of September 2018. However the traditional flight to […]

S Korea’s Daelim Cancels $2bn Deal with Iran

South Korea’s Daelim Industrial said on Friday that a contract worth 2.23 trillion Korean won ($2.08 billion) for a refinery project in Iran was canceled. The order was canceled as the Isfahan Refinery Upgrading Project failed to procure financing because of economic sanctions imposed on Iran, Daelim said in a regulatory filing, Reuters reported. The […]

Korean Credit Line to Finance Refinery Project

A project to optimize Iran’s Isfahan Refinery will be financed by a South Korean credit line. South Korea will provide €1.9 billion worth of credit for upgrading and optimizing the refinery. Alireza Arman, Consolidated Planning Manager of National Iranian Oil Products Refining and Distribution Company (NIOPDC), said: “A contract for improving process and optimizing Isfahan […]

Isfahan hosts Iran-Austria Energy Committee

Iran’s central city of Isfahan hosted the 4th Iran-Austria Energy Committee on Tuesday, November 21, 2017. The event was held in line with the Iran-Austria economic cooperation roadmap for a 5-year period (2016-2020). The Iranian delegation attending the committee was headed by Hossein Esmaeili, director of Europe, US and Caspian Neighbors Department of the Iranian […]

Iran Starts Building Mideast’s Largest Solar Farm

Iran’s energy minister on Thursday inaugurated a project to build the Middle East’s largest solar plant in the country’s southeastern province of Kerman. Construction of the major power plant kicked off in an area between the cities of Kerman and Bam, in a ceremony attended by Energy Minister Hamid Chitchian. The project requires an investment […]

Iran plans High-Speed Rail Links

By John Lee. Iran Railways says it has signed a preliminary agreement with the Italian state-owned Ferrovie dello Stato (FS) to build two high-speed links in Iran. The lines will run between Qom and Arak, and between Tehran and Isfahan. According to the report from Associated Press, Iran signed an $8 million deal with French company […]

New Generation of Iranian Hostels attract Younger Tourists

By Maysam Bizaer for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Tourism has been among the main sectors of the Iranian economy that immediately witnessed steady growth after the lifting of international sanctions last year as part of the 2015 nuclear deal. With the rise in […]

NIOC signs $615m Deal with Tubacex

By John Lee. The National Iranian Oil Company (NIOC) has signed Iran’s first oil contract of the post-sanctions era with an international consortium comprising Spain’s Tubacex and Iran’s Isfahan Steel Company [Foolad Isfahan Company]. Associated Press reports that the deal worth US$615 million, and says the Spanish-Iranian consortium will provide oil pipes for a network […]

Iran’s Largest Solar Power Plant Launched

The Islamic Republic of Iran inaugurated its biggest-ever solar power plant near the central city of Isfahan in a bid to make further use of renewable energy resources. The project, which took seven months to be completed, has been constructed jointly by Iran’s Ghadir Electricity and Energy Company and Greece’s Metka engineering firm. The plant […]

Rotana to Open 1st Hotel in Iran ‘Soon’

The head of Rotana hotels group, based in Abu Dhabi, said it plans to open its first hotel in Iran in less than a year. “We have signed hotels in Tehran, Mashhad and Isfahan. We expect to open our first hotel in Mashhad, a shrine city, by the first quarter of next year,” Rotana’s President […]

$3bn needed for Airport Development

By John Lee. The Iranian government is reportedly seeking private investors to fund a $3-billion expansion of the airports at Mehrabad, Imam Khomeini, Tabriz, Mashhad, Isfahan, Kerman and Shiraz. Trade Arabia reports that Iran has already gathered around $2.35 billion in foreign investments through memorandums of understanding, and secured $650 million in firm contracts. Among […]

Scania Wins Iran Public Transport Contract

Sweden’s Scania has signed an agreement in principle with the Iranian province of Isfahan and the investment company Shahr-e Atiyeh for the delivery of 1,350 buses for public transport in Isfahan and four other Iranian cities. The first buses will go into service at the end of the year. Two memoranda of understanding were signed […]

Austrian Airlines to offer Flights to Shiraz

Starting on July 2, 2017, Austrian Airlines will take off four times a week to the Iranian city of Shiraz. The airline will serve this route Vienna-Isfahan-Shiraz, leaving Vienna on Mondays, Wednesdays, Fridays and Sundays to make an interim stopover in Isfahan. In addition to existing services of up to 14 weekly flights to Teheran […]

Iran in Talks with Japan to Optimize Oil Refining

Iran is finalizing negotiations with two major Japanese companies to improve the efficiency of Tehran’s aging refineries, an official announced. In an interview with Tasnim, Abbas Kazemi, managing director of the National Iranian Oil Refining and Distribution Company (NIORDC), said Iran has been in talks with Japanese and South Korean companies to optimize oil refining […]

Korean Firm Wins $1.9bn Refinery Deal

Daelim Industrial, a South Korean leading construction and petrochemical company, said it has won a multibillion-dollar contract to renovate and expand Isfahan Oil Refinery (pictured) in central Iran. The Korea Herald quoted the construction giant as saying on Thursday that the deal is worth $1.9 billion (2.3 trillion Korean won). The company said it received […]

Qatari Retailer to open in Iran

By John Lee. Reuters reports that Qatar-based Abu Issa Holding plans to expand into Iran next year and open stores in Tehran selling watches and confectionery. The family-run is one of the largest retail and luxury goods firms in the Middle East. Ashraf Abu Issa, chairman and chief executive of Abu Issa Holding, told the news […]

Tehran-Isfahan Railway to be Built in 3 Yrs

The managing director of the Iranian Railway Company (RAJA) announced that the country plans to construct an express railway from the capital Tehran to the central city of Isfahan in three years. RAJA should take steps to construct express railways for short routes to encourage people to use rail transportation, Mohsen Pourseyed Aghaei said on […]

Austrian Airlines to Launch Flights to Isfahan

Austrian Airlines, a Lufthansa subsidiary, plans to add new flights to Iran’s central province of Isfahan. Austrian Airlines said in a statement that it plans to launch 3X-weekly Vienna-Isfahan services from September 4, Air Transport World website reported recently. Vienna-Isfahan services will become 4X-weekly starting from summer 2017, it added. Isfahan will be the second […]

IME resumes Cement Export Trade

Cement offerings for export have reportedly resumed at the Iran Mercantile Exchange (IME). Isfahan Cement Company initiated the offering with 2000 tonnes of cement on Saturday, 1000 tonnes of which were traded on cash payment, according to Cemnet. IRNA also quotes IME head Hamed Soltaninejad as saying: “We intend to expand our export markets for […]