Tag Archives | Tehran

S. Korean Retailer opens Tehran Convenience Store

By John Lee. The operator of South Korea’s largest convenience store chain has reportedly opened its first store in Iran. BGF Retail, which runs the CU chain, opened the store in Tehran in partnership with Iranian firm Entekhab Investment Development Group. (Source: Yonhap)

Over 100 Projects Planned in Tehran for Foreign Investors

Tehran Mayor Mohammad Ali Najafi highlighted efforts to attract foreign investments to develop the Iranian capital, saying more than 100 mega projects are being planned to be carried out with foreign investments. Najafi said his key vision for Tehran is to bolster exchanges and contacts with leading cities of the world in finance, entrepreneurship, manufacturing […]

Tehran Refinery Launches Nitrogen Unit

Tehran Oil Refinery has launched what it describes as “a new nitrogen unit in order to save some environment in a Tehran already choking with pollution.” Mohammad Bidar, director of engineering of the refinery, said construction of the unit began in July 2015 with 1,200 cubic meters/hour of capacity which has just come online. He said […]

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 […]

Russia Ready to Electrify Tehran-Tabriz Railway

Russian Railways is ready to help electrify Tehran-Tabriz railway to connect the Iranian capital to the northwestern city, First Vice President of the Russian Railways Operator Alexander Misharin said. This issue was discussed today with the President of the Islamic Republic of Iran Railways (RAI) Saeed Mohammadzadeh, Misharin added, the Tass news agency reported on […]

Hamedan-Tehran Railway Starts Operation

President Rouhani ordered Hamedan-Tehran railway to start operation, a 276km project that has been completed with $258m credit. At the opening ceremony that was held on Monday morning, Dr Rouhani travelled a distance by the train and officially opened the railway. The President entered Hamedan province last night and was welcomed by the Governor General […]

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 […]

Tender for Subway Cars for Tehran Metro

The first announcement for prequalification of Iranian and foreign companies to supply subway cars for Tehran urban and suburban railway system has been published. The announcement, published both in Persian and English languages, invites eligible Iranian and foreign companies to apply for designing, receiving permission, manufacturing, testing, transferring, commissioning, delivering, training, offering guaranty services, and […]

Chinese firms help to update Tehran Metro

By John Lee. According to Tehran Times, the Chinese military-affiliated Norinco International won a 93 million euro ($100 million) contract to manufacture 70 subway cars for the Tehran Metro. The cars will be sold to Tehran Wagon Manufacturing Co., a joint venture formed between Norinco, with a 29% stake, together with Tehran’s official subway operator, […]

$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 […]

Athos Solar completes first Green-Field Solar Plants in Iran

Athos Solar GmbH, based in Heidelberg, Germany, recently became the first investor to install and launch two high-performance green-field photovoltaic plants in Iran. The two systems, located in the province of Hamadan near Tehran, have a surface area of ten hectares each, making them the first of their scale in Iran. Further, their combined peak […]

Tragedy in Tehran

Iran’s government declared a day of national mourning in commemoration of the firemen killed in a Thursday collapse of a blazing high-rise building in downtown Tehran. Iranian President Hassan Rouhani’s cabinet declared Saturday, January 21, a day of national mourning in the wake of firefighters’ deaths in the tragic incident. More than 20 firefighters are […]

Direct Flight between Iran, Pakistan Soon

Iranian Ambassador to Islamabad Mehdi Honardoost said Iran and Pakistan have agreed to establish direct flights between the two nations in the near future. Pakistan and Iran agreed to boost their cooperation in the aviation industry and transportation by establishing a direct flight route between Tehran and Islamabad, Honardoost said on Friday during a meeting […]

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 […]

Telepizza Targets 200 Store in Iran

Spanish-based Telepizza, the leading non-US pizza delivery company by number of stores, has announced its arrival in Iran in March 2017 via a strategic master franchise alliance with its partner Momenin Investment Group and the objective of 200 stores in 10 years. This will mean opening some 20 establishments per year and an investment of […]

Iran Expects Six-Fold Rise in Foreign Investments

A member of Tehran Chamber of Commerce said the number of foreign direct investment projects in Iran is expected to increase six-fold by next March. Foreign investments in Iran for each Persian calendar year (starting 21 March) stood at about $2 billion, Feriyal Mostofi said. He added that once contracts between Iranian and foreign firms […]

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 […]

Did Rouhani Ban Film about Jailed Iranian-American Businessman?

By Rohollah Faghihi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Did Rouhani stop screening of hardline film about jailed Iranian-American? Ever since taking office, Iranian President Hassan Rouhani has come under increasing pressure from hard-liners who have been trying to tie his administration to the […]

MTN Invests in “Iran’s Uber”

By John Lee. South African mobile phone company MTN Group has agreed to invest $22 million in Snapp.ir, Iran’s first cab-hailing smartphone app. Snapp CEO Shahram Shahkar informed Bloomberg that the funds would be used to allow the company to expand quickly from Tehran into other cities. He said it has grown to about 500,000 subscribers […]