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Iran qualifies from many respects to be a good location for investment and doing business. it has huge potential for investing after the termination of economic sanctions, Some of the features are highlighted below:
1. Vast domestic market with a population of 80 million growing steadily 2. Young, educated and cheap labor force 3. Excellent strategic geographical position 4. The quick and easy access to neighboring markets with a population of 350 to 400 million 5. Developed and ready infrastructure 6. Cheap and abundant raw materials, energy and transportation 7. The four-season climate and climate variability in the country 8. Fiscal incentives 9. Security and political stability 10. Untapped and consumer market ..
A Bulgarian company signed a Memorandum of Understanding (MoU) with Iran to develop solar photovoltaic infrastructure in the Iranian central city of Jahrom, Xinhua reported.
“The first investment agreement in the Jahrom Special Economic Zone has been signed with Solar & Benefit Corporation (Bulgarian renewable power developer) to build a photovoltaic power plant,” said Alireza Sahraeian, the governor of Jahrom.
The official did not specify the plant’s capacity or the value of the investment, but said the deal is to meet the electricity demand of a population of 230,000 in Jahrom.
“The agreement is to provide part of the country’s power needs and to boost supply stability in the region through renewable energy resources,” he said.
Jahrom is approximately 200 km off the Persian Gulf coast and 800 km south of the capital Tehran.
Solar & Benefit will be compensated for 20 years at a price of 15.2 euro cents per kilowatt hour. The Bulgarian enterprise operates through its local company Solar & Benefit Persia.
The Sofia-based company plans to develop power projects in Iran with a total output capacity of 400 megawatts in collaboration with Grass Group, a German solar energy EPC contractor.
German industrial group Siemens is about to undertake financing rail and power plant projects worth 3 billion euros in Iran, a senior Iranian official says.
“On a trip to Germany, we had discussions about Siemens’ participation in Iran’s railway and power plant projects,” Deputy Minister of Road and Urban Development for International Affairs Asghar Fakhriyeh-Kashan said on Tuesday.
In the rail sector, Iran is going to buy a number of wagons from Siemens for use on a high-speed line between Tehran, Qom and Isfahan, he said. Siemens will also cooperate on providing signaling equipment and installing communication signs.
“Through financing a number of construction projects, Siemens plans to enter into a joint venture with Iran’s MAPNA company both in the power plant and locomotive manufacturing sector in order to boost domestic production,” he said.
Last month, the Export-Import Bank of China (EXIM) signed a $1.5 billion deal to finance the electrification of a high-speed rail line between the Iranian cities of Tehran and Mashhad.
EXIM’s Vice President Sun Ping said in Tehran that the institution had provided loans for 26 Iranian projects in the electricity, petrochemicals, non-ferrous metals, oil and gas sectors, worth $9 billion.
China Railway Group Limited (CREC) is carrying out the $1.8 billion electrification of the high-speed rail link between Tehran, Qom and Isfahan.
Iran has announced plans to splurge up to $25 billion over the next 10 years on the modernization and expansion of its railway network.
Siemens was one of the first major companies to agree on a deal with Iran after the lifting of sanctions in January 2016, signing a $1.6 billion memorandum of understanding on Iran’s rail infrastructure and a long-term roadmap with MAPNA on the power sector.
The agreement included a license for manufacturing F-class gas turbines in Iran, under which more than 20 gas turbines and associated generators will be delivered over the next four to five years.
A sum of 300,000 Renault cars will be built in a five-year term and first products will enter the market in the final months of the next Iranian calendar year (started March 21, 2018), senior IDRO official said.
Head of Iran’s Industrial Development and Revolution Organization (IDRO) Mansour Moazami made the remarks on the sidelines of a ceremony held to celebrate a contract between Renault, Industrial Development and Renovation Organization of Iran (IDRO) and Partov Negin Naseh Holding Company.
‘We pursue promotion of domestically made products through joint venture with international brands,’ the official noted.
He said: ‘Up to 66 million Euro will be invested at the first phase of the project.’
Meanwhile, Executive Vice President and Chief Competitive Officer in Renault Group Thierry Bolloré called the contract with Industrial Development and Renovation Organization of Iran (IDRO) and Partov Negin Naseh a remarkable deal in one of the most strategic countries of the world .
Based on the contract, Renault will sponsor the project in all phases, including investment, technology transfer, engineering and export, Bolloré added.
Senior Renault official called the contract with Industrial Development and Renovation Organization of Iran (IDRO) and Partov Negin Naseh a remarkable deal in one of the most strategic countries of the world.
Executive Vice President and Chief Competitive Officer in Renault Group Thierry Bolloré elaborated the details of contract in a ceremony held to celebrate the event and said: ‘The full industry value chain will be transferred to Iran.’
Based on the contract, Renault will sponsor the project in all phases, including investment, technology transfer, engineering and export, Bollore added.
The official hailed Iran’s valuable human resources, infrastructure, enriched culture and geopolitics.
He pointed to continued presence of Renault in Iran since 2004 and noted that inking the deal proves Renault commitment to attend Iran’s auto industry for long-term.
Renault would develop cooperation with its old partners, including Iran Khodro and Saipa, Bolloré noted.
Renault and IDRO on Monday inked a 660-million-euro contract.
Talking to the Islamic Republic News Agency (IRNA) on Saturday, Mohsen Salehi-Nia Deputy Minister of Industry and Trade for Industries Affairs said the preliminary measures have been taken to launch the joint production line for the new car.
Salehi-Nia added that no agreement has been inked so far regarding the issue, but once the deal signed between representatives of the two sides, the agreement could be considered as one of the achievements made by the Islamic Republic following the nuclear deal and implementation of the landmark international agreement, also known as the Joint Comprehensive Plan of Action (JCPOA).
On July 4, Volkswagen announced that the company will begin the sale of vehicles in Iran in August.
Initially, Volkswagen’s Tiguan and Passat models are to be imported under a contract concluded with the Iranian automotive company Mammut Khodro.
The Volkswagen brand will thus again have a presence in the Iranian market after more than 17 years, and is systematically developing further worldwide market potential.
‘By returning to Iran, the Volkswagen brand is filling in another blank spot on the global automotive map. We are thus strengthening our international presence still further. At the same time, we are taking our very latest models with premium features to our Iranian customers’, Anders Sundt Jensen, project manager for the Iranian market at Volkswagen, said.
He made the remarks on the sidelines of foreign investment meeting of Yazd Investment Services Center.
Sajdei said currently two sites to generate 2,000 megawatts electricity in the cities of Saveh and Zahedan handed over to Turkish company and other related affairs are underway.
He also acknowledged about signing memorandum of understanding (MoU) with three companies from South Korea, Japan and France to generate 3500 megawatts electricity and said that the MoU have been signed with the three companies and negotiations to sign contract is underway.
Sajdei said that time period for guaranteed purchase electricity from foreign investors is determined in the contracts and upon agreement and contract, the investors may sell their generated electricity in free market or sell their power plant to the government after expiration of the period.
Yazd province in attracting foreign investors and preparing necessary infrastructures to absorb investment, especially in the fields of solar energy and generating electricity is among flag-bearers provinces of Iran.
Being the first to be signed in the new format of Iran’s oil contracts which lead to technology transfer to Iran, the Total deal is considered a turning-point to start a new era in the Iranian oil industry.
The deal is to be signed by Iranian Minister of Petroleum Bijan Zangeneh, the Total and other beneficiary managers.
The primary agreement to develop South Pars 11 project was signed on November 8, 2016 between the NIOC and the mentioned consortium, including the Total, the Chinese National Petroleum Corporation (CNPC), Petropars, with the presence of Zangeneh, President Middle-East and North Africa of Total Exploration and Production Stephane Michel, and CEO of CNPC Middle East Zhu Junfeng.
The deal is the biggest natural gas contract Iran has signed after the January 2016 nuclear deal with G6 to lift the sanctions on Iran.
Jalali Amin further told reporters that the credit will be spent on the project for establishment of a tunnel for transfer of sewage in the western part of the capital city (the Western Tehran Wastewater Treatment Plant (WWTP) and on sewage treatment center in Southwestern part of the city.
The official said the IDB has thus far paid portion of the cash and the rest will be provided gradually as the project advances.
Ministry of Petroleum on Tuesday quoted Shahdaie as saying, “In case of a final agreement, Total will invest up to two billion dollars in Iran’s petrochemical industries.”
Outlining talks between National Petrochemical Company (NPC) of Iran and French Total Company for establishment of new petchem facilities in Iran, Shahdaie said based on the latest talks, the petrochemical facilities will operate with the capacity to yield about 2.2 million tons of petrochemical and polymer products annually.
She announced that for the time being, agreement has been reached for establishment of two facilities for production of a special grade of polyethylene, each facility running with 500,000 tons annual production capacity.
Shahdaie added that furthermore, agreement has been reached for construction of a cracker ethane facility to turn ethane into ethylene – 1,200,000 tons a year production capacity.
The NPC top official said the most important specification of contract with Total and its likely partnership in petrochemical projects is transfer technology for production of a special kind of polyethylene in Iran.
Iran’s annual petrochemical production capacity stands at 62 million tons and by the end of this year (March 20, 2018), the figure will reach 72 million tons when six new projects come into stream. The total value of net sale of the products will rise up to $17 billion.
National Iranian Oil Company (NIOC) and an international consortium, led by French Total company, signed Iran’s new oil contract in the post-sanction era for development of the phase 11 of South Pars.
Under the $4.8 billion gas deal, 56 million cubic meters of gas will be added to Iran’s capacity to extract gas from South Pars gas field common with Qatar.
According to the Statistical Office of the European Communities (Eurostat), the comparison also shows 127% increase in commercial exchange between Iran and EU countries, reaching from € 2.9b to € 6.55b.
Europe’s exports to Iran also show a 44% increase, reaching € 3.15b. It was € 2.17b in the first four months of 2016.
The changes are due to termination of oil sanctions and Europe’s restarting to buy oil from Iran.
Bulgaria Signs Deal to Invest in Iran’s Solar Energy Projects A Bulgarian company signed a Memorandum of Understanding (MoU) with Iran to develop solar photovoltaic infrastructure in the Iranian central city of Jahrom, Xinhua reported. “The first investment agreement in the Jahrom Special Economic Zone has been signed with Solar & Benefit…
German industrial group Siemens is about to undertake financing rail and power plant projects worth 3 billion euros in Iran, a senior Iranian official says. “On a trip to Germany, we had discussions about Siemens’ participation in Iran’s railway and power plant projects,” Deputy Minister of Road and Urban Development for…
A sum of 300,000 Renault cars will be built in a five-year term and first products will enter the market in the final months of the next Iranian calendar year (started March 21, 2018), senior IDRO official said. Head of Iran’s Industrial Development and Revolution Organization (IDRO) Mansour Moazami made…
Senior Renault official called the contract with Industrial Development and Renovation Organization of Iran (IDRO) and Partov Negin Naseh a remarkable deal in one of the most strategic countries of the world. Executive Vice President and Chief Competitive Officer in Renault Group Thierry Bolloré elaborated the details of contract in…
Germany’s Volkswagen and Iran’s car manufacturer Mammut Khodro are planning to launch a new joint production line to make cars in the near future. Talking to the Islamic Republic News Agency (IRNA) on Saturday, Mohsen Salehi-Nia Deputy Minister of Industry and Trade for Industries Affairs said the preliminary measures have…
Director for monitoring group on investment contracts of Thermal Electric Generation Specialized Company Jamshid Sajdei said on Thursday that contracts to generate 5,000 megawatts electricity have been convened with investors and companies from Turkey. He made the remarks on the sidelines of foreign investment meeting of Yazd Investment Services Center….
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