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Iranian, German carmakers to jointly produce cars

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…

Turk investors pay for 5,000 megawatts electricity generation in Iran

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….

Total returns with 4.8-billion-dollar investment to Iran

Countdown to the signing of the $4.8 billion oil contract between Iran and the international consortium led by Total has started. 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…

IDB to finance 125m euro loan for Tehran WWTP project

Deputy Head of Tehran Sewage Treatment Company for Engineering and Development Affairs Farhad Jalali Amin says Islamic Development Bank will meet 125 million euro of the credit needed for Tehran sewage treatment projects. Jalali Amin further told reporters that the credit will be spent on the project for establishment of…

Iran-Total deal in petchem to reap $2bn investment

Deputy Minister of Petroleum Marzieh Shahdaie says agreement with French Total Company in the petrochemical sector will result in $2 billion investment. 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…

500% increase in Iran’s exports to Europe

 Iran’s exports to European Union have increased 500% to reach € 3.4b in the first 4 months of 2017 compared to the same period in 2016. According to the Statistical Office of the European Communities (Eurostat), the comparison also shows 127% increase in commercial exchange between Iran and EU countries,…

Zarif: Iran can be reliable trade partner for Germany

 Iranian Foreign Minister Mohammad Javad Zarif underlined that the time is ripe for Tehran and Berlin to boost their economic cooperation, and said that Iran can be a good trade partner for Germany. “Iran can be a trustworthy partner in joint production of goods and exporting them to the regional…

Khuzestan electricity company signs MoU with French investor

Managing Director of Khuzestan Regional Electricity Company (KREC) Mahmoud Dasht-e-Bozorg said on Saturday that KREC has signed memorandum of understanding (MoU) with French investing company of “ Green Coast Solution’. He said in direction of expanding usage of renewable energies technologies, clean energy and absorbing foreign investment, the MoU was…

Iran, Germany to broaden banking cooperation

Foreign Minister Mohammad-Javad Zarif and German Finance Minister Wolfgang Schäuble on Monday discussed expansion of Tehran-Berlin banking cooperation. The two ministers met on the sidelines of the annual meeting of European Council on Foreign Relations (ECFR). Schäuble, underlining the JCPOA implementation, welcomed banking cooperation between Tehran and Berlin. He said…

Iran, Azerbaijan Republic boost 75% of their non-oil exchanges

 Azerbaijan Republic Ambassador to Tehran Bunyad Huseynov pointed to thegrowing trend of trade exchanges between the two neighboring states and said on Tuesday that over past four years non-oil exchanges between the two countries increased by 75 percent. He made the remarks in meeting with East Azarbaijan Province Governor General…