Tag Archives | Italy

Pininfarina announces Deal with Iran Khodro

Italian design firm Pininfarina S.p.A has announced the closing of a commercial agreement with Iran Khodro (IKCO). The agreement foresees that Pininfarina will develop a modular automotive platform, able to house at least four different vehicles, and the first passenger car of the medium segment of the  market. Activities will span from the definition of […]

Italy’s Saras Reimburse Entire Oil Debt with Iran

Key Italian oil refiner Saras said it has cleared all the debt it owed Iran for oil purchased before sanctions were imposed against the country in 2012. Saras General Manager Dario Scaffardi was quoted by Reuters as saying that the debt – which amounted to €400 million – had been cleared in the first quarter […]

Pratt & Whitney to supply Engines for Iran Plane Deal

By John Lee. US-based Pratt & Whitney, a subsidiary of United Technologies (UTC), is to supply engines for the passenger planes sold by ATR to Iran Air, according to report from Hartford Business. An ATR spokesman said the deal is for the 20 ATR 72-600s, a twin-propeller aircraft, and said Iran Air had an option to […]

Iran, ATR Sign Major Aircraft Deal

European aviation giant ATR said it has signed a deal with Iran’s national flag-carrier airline Iran Air to sell 20 aircraft to Tehran. ATR Spokesman David Vargas confirmed the deal for the sale of 20 ATR-600s, a twin-propeller aircraft, was signed on Thursday. “They will definitely help Iran Air to modernize and develop regional connectivity […]

Iran to Receive Four Aircraft from ATR within 15 Days

Iran’s Deputy Transport Minister Asghar Fakhrieh Kashan said the French-Italian aircraft manufacturer ATR is slated to deliver four airplanes to the Islamic Republic within two weeks. In remarks released on Monday, Fakhrieh Kashan pointed to a recent contract between Iran Air and the ATR to purchase 20 ATR 72-600 airplanes and said according to the […]

$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 […]

IRISL seeking London Share Listing

By John Lee. The Islamic Republic of Iran Shipping Lines (IRISL) has reportedly held meetings in London to discuss a possible listing on the London Stock Exchange (LSE). The company was removed from sanctions blacklists last year, and has already placed an order for new ships estimated to be worth $626 million. But according to […]

Iran to rent 35 Oil Tankers to Europeans

By John Lee. Iran has signed deals with a dozen European companies to rent its 35 oil tankers to them. Sirous Kian-Ersi, managing director of the National Iranian Tanker Company (NITC) told Mehr that all of the 35 deals are voyage charter. Companies involved are said to include Spain’s Cepsa and Italy’s Eni, according to […]

Iran Attracts $7.2bn in Finance from 3 Foreign Banks

The vice governor of the Central Bank of Iran (CBI) has announced that the country has managed to attract 7.2 billion dollars in finance from three foreign banks. In a meeting between Iranian First Vice-President Eshaq Jahangiri and the CBI officials in Tehran, Gholamali Kamyab said attracting $10 billion of foreign finance has been defined […]

Iran Approves 29 Int’l Companies for Oil Projects

Iran’s oil ministry has certified 29 international companies to bid for oil and gas projects in the country under its new format of oil contracts. According to the report by the oil ministry’s news website Shana, 29 companies, including Shell, France’s Total, Italy’s Eni, Malaysia’s Petronas and Russia’s Gazprom and Lukoil, as well as companies […]

Iran, Italy discuss EUR 4bn Rail Projects

The Iranian Railroad Company’s Director General for International Affairs Abbas Nazari said Tehran and Rome are in negotiations over Italy’s investment in two rail projects in the Islamic Republic worth 4 billion euros. “We are in dialogue with Italian investors about Qom-Arak and Tehran-Hamedan high-speed railroad lines and the needed fleet (of trains),” Nazari told […]

ATR to Finalize $400m Aircraft Deal on Wednesday

Iran is to finalize a contract to buy 20 turboprops from French-Italian aircraft manufacturer ATR on Wednesday, an Iranian official announced. Representatives from ATR, a joint venture of Airbus and Finmeccanica of Italy, will arrive in Tehran on Wednesday, January 4, to hold the final round of business negotiations on the multi-million-dollar contract, Asghar Fakhrieh Kashan, […]

Italian, Swedish Companies to Resume Activity in Iran

Senior directors of Italian and Swedish companies involved in manufacture of oil and gas pipelines consider Iranian market positive for resumption of activity. Alessandro D’angelo, Middle East & North Africa Regional Sales Manager of Italian Tenaris Company told Shana on the sidelines of the seminar of the manufacturers of oil and gas industry pipelines in […]

Italy’s Eni Eying Iran Investments

Italy’s oil giant Eni says it has serious plans to return to Iran’s oil industry in a yet another indication of the growing interest of global energy corporations to approach the country’s post-sanctions business opportunities. Eni CEO Claudio Descalzi told Reuters that his company would start working again in Iran when it has been repaid investments […]

BP in Talks with Iran to Develop 4 Oilfields

The Director of the National Iranian South Oil Company (NISOC), Bijan Alipour, said negotiations are underway with the British Petroleum (BP) on development of four oilfields in south of Iran. The National Iranian South Oil Company has held talks with 22 domestic and foreign companies for contracts to develop Karanj, Parsi, Rag Sefid and Shadegan […]

Western Insurers Target Iran

By John Lee. Reuters reports that Iran is in active talks with insurers to provide cover in a market valued at $9 billion last year, and potentially double that in the next decade. This is despite the fact that Iran has secured ties with only a limited number of smaller banks as U.S. sanctions remain […]

Italians Eager to Invest in Jam Petchem Plant

Italian investors have indicated their readiness to finance construction of the PDH and PP units of Jam Petrochemical Plant. A group of Italian investors have paid a visit to Jam Petrochemical Complex located southern Iran with the hope of hunting out investment opportunities in the facility’s development projects. The delegation met with the facility’s executives […]

Sparkle, TIC Partner to expand IP Network in Iran

Sparkle, the international services arm of Telecom Italia Group, and the Telecommunication Infrastructure Company of Iran (TIC), has signed a partnership agreement for the expansion of Sparkle’s Global IP Backbone Seabone in Iran with a new IP POP in Teheran. Through this new Point of Presence that will be in operations by end of this […]

Why Renewable Energy is Booming in Iran

By Maysam Bizær, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. On Sept. 10, Iran and Russia launched a project to add two new 1,000-megawatt (MW) reactors to the already existing 1,000-MW reactor at the Bushehr nuclear power plant in the southwest of the country. […]

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 […]