Archive | Construction

Austrian Company to Build Hospitals in Iran

Iran’s Social Security Organization and a major Austrian firm signed a Memorandum of Understanding (MoU) for the construction of two hospitals in the Islamic Republic. The report from Tasnim does not mention the name of the company. The MoU for the construction of the hospitals was signed on Wednesday during a ceremony attended by representatives […]

IRGC Commander Orders Flood Relief for Victims

Commander of the Islamic Revolution Guards Corps Major General Mohammad Ali Jafari ordered the IRGC units in flood-stricken provinces of Iran to fully employ their capabilities to provide relief aid to victims. Speaking to the Tasnim News Agency, IRGC Spokesman General Ramezan Sharif said the top commander has issued an order to provide relief aid […]

Leading Experts to discuss Business Opportunities in Iran

Leading Experts to discuss Business Opportunities in Post-Sanctions Iran Following Implementation Day – January 16th 2016, many of the economic sanctions have been removed, paving the way for international companies to work in Iran without punitive action from the EU and US. Despite being the second biggest economy in the Middle East, Iran has a […]

Iran hopes to get its Trains back on Track

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. Iran’s development of its rail sector has been slow for more than three decades. Since the 1979 Islamic Revolution, only 3,418 miles of railway have been built to extend the existing 2,796 miles of […]

Iran Urges Free Trade with Kazakhstan, Eurasia

Iranian President Hassan Rouhani called for efforts to facilitate free trade with Kazakhstan and other Eurasian countries. Addressing a meeting of high-ranking delegations from Iran and Kazakhstan, held in Tehran on Monday, President Rouhani voiced Iran’s determination to enhance its ties with Kazakhstan. Stressing the need for closer trade cooperation and banking relations between Tehran […]

Iran-Related Oil Consultancy Accused of Corruption

By John Lee. An oil consultancy company founded by an exiled Iranian has been accused of widespread bribery and corruption in the oil industry, including in Iraq and Libya. An investigation by Fairfax Media — publisher of The Age and The Sydney Morning Herald newspapers — and The Huffington Post, claims that Monaco-based Unaoil channelled huge bribes to government […]

Italian Rail Company Targets Iran

By John Lee. The CEO of Gruppo FS Italiane (Ferrovie Dello Stato), Renato Mazzoncini, has said that Iran is an important opportunity for his rail business. Addressing the Transport Commission of Italy’s parliament, he said that in the railway world “only seven nations have high-speed trains, and Italians and Japanese people have the best systems.” […]

14 New Projects worth more than $2.5bn

By John Lee. The last meeting of the Foreign Investment Board in 1394, chaired by Mohammad Khazaei, was held at the Organization for Investment, Economic and Financial Affairs of Iran and 14 projects was approved by the Board in the areas of power generation, automotive and mining industries worth 2.6 billion dollars. In the meeting, […]

India wants Subsea Gas Line from Iran

By John Lee. PressTV reports that the Indian government is determined to seal a deal with Tehran to lay a 1,400-kilometer undersea gas pipeline from Iran to India. The planned multi-billion-dollar project would connect Iran’s southeastern port of Chabahar to India’s western Gujarat State, avoiding Pakistan. New Delhi will also reportedly fund a rail link […]

Iran, Brunei Eye Enhanced Economic Ties

Iranian Foreign Minister Mohammad Javad Zarif in meetings with a number of Bruneian ministers discussed ways to expand bilateral relations in a range of fields. During his stay in Brunei as part of a tour of Southeast Asia and Oceania, the top Iranian diplomat held meetings with a number of Brunei’s ministers, including Minister of […]

Meliá Hotels Announces New 5-Star Hotel in Iran

Meliá Hotels International has announced its entry into the Iranian market with the first five-star branded hotel to be managed by an international hotel company. The Gran Melia Ghoo Hotel, located in the largest mixed residential, commercial and hotel complex to be developed in Iran, currently being built in Salman Shahr, a popular holiday destination […]

India Approves $150m Chabahar Port Plan

By John Lee. India has approved a $150-million project to develop the strategic Iranian port of Chabahar [Chah Bahar], which includes a transit route to Afghanistan bypassing neighbouring Pakistan. AFP reports that New Delhi signed a multi-million-dollar memorandum of understanding with Tehran last May to develop the port on its southeastern coast, but final approval […]

Iran Signs $40bn in Trade Deals With Russia

By John Lee. Ali Akbar Velayati, an adviser to Iran’s supreme leader, told reporters: “… contracts worth around $40 billion … have already been initialed and are ready to be implemented. “They are just waiting for loans and financing from the Russian side, and during our meeting with Putin we were reassured that this would be done, and that [Iran] […]

German Firm to Invest €1b in Iran’s Copper Industry

By John Lee. Germany copper company Mansfelder Kupfer und Messing GmbH has signed a memorandum of understanding to invest €1-billion in a number of project in Iran. IRNA reports that under the deal, signed with the National Iranian Copper Industries Company (NICICO), MKM would help Iran develop its downstream industries to obtain copper from copper […]

France’s Fives wins Iran Aluminium Deal

By John Lee. French industrial engineering company Fives Group has been awarded a deal to set up a major aluminum plant in Iran. The $400-million deal was signed with the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), and will see Fives increase Iran’s production of aluminum anodes by 450,000 tons in a year. […]

Danieli in 5.7bn EUR JV

On the occasion of the visit to Italy of President Hassan Rouhani, the Danieli Group signed agreements worth approximately 5.7 billion euro. The agreements signed in Rome by the Chairman and CEO of the Danieli Group, Mr. Gianpietro Benedetti, refer to a joint venture and orders for the supply of machinery and plants to be […]

Italian Rail Company in 5bn EUR Iran Deal

By John Lee. The Italian Transport Minister Graziano Delrio and his Iranian counterpart Abbas Akhoundi have signed a memorandum of understanding (MoU) calling for the return of State owned Italian railway company Ferrovie dello Stato to Iran. According to Italy24, the company has been active in Iran since 2001. The holding company and its subsidiaries […]

Condotte d’Acqua in 4bn EUR Deal

By John Lee. Among the deals struck this week during the visit of Iranian President Rouhani to Italy was a contract worth up to 4 billion euros with Condotte d’Acqua. The infrastructure firm has had previous business in Iran, including at the port complex at Bandar Abbas (pictured). (Source: Reuters)