Indian firms to invest $235m in Chabahar port
Managing Director of Ports and Maritime Organization said that the capacity of Chabahar port will increase from 2 million tons to 8 million tons after Indian firms’ $235-million investment. Mohammad Saeed Nejad told IRNA on Tuesday that Indian firms are to invest $85m in build–operate–transfer type (BOT) and $150m in…
Sanctions on Bank Melli in Hong Kong lifted
Deputy governor for currency affairs at the Bank Melli of Iran (BMI) announced that sanctions on BMI Hong Kong Branch have been lifted since June 24 and the branch will soon resume its activities there. Hong Kong Monetary Authority lifted restrictions on BMI in Honk Kong, Gholam Reza Panahi made…
Iran’s foreign trade increases in spring
Latest figures by Iran’s customs office show that foreign trade income stood at over $10,472 billion in the first quarter of the Iranian calendar year (started March 20). The Iran’s customs office data released on Tuesday put the volume of foreign trade at 27,780 million tons. The figure also indicated…
Doosan Heavy Industries lands $186m desalination deal in Iran
South Korea’s Doosan Heavy Industries & Construction Co. won a 220 billion won ($185.9 million) worth order from Iran-based Sazeh Sazan Co., to build a seawater reverse osmosis desalination (SWRO) plant in the Middle East country. The company said Monday that the deal marks the first SWRO procurement a foreign…
‘Smart money’ moving towards Iranian capital market: IFB CEO
To reach an average 8 percent economic growth during the next five-year period, according to decree of the Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei, and following withdrawal of the financial embargo in January, the Iranian administration is shifting from a bank-based financial system into a more market-based one…
Negotiations underway with international companies for energy projects
Managing director of the Iranian Offshore Engineering and Construction Company Abolqasem Rahmani said on Sunday that negotiations are underway with international companies, especially European companies on the energy projects. Gas or oil rigs such as Foruzan rig, weighing 7,000 tons, used to be built in South Korea but the Islamic…
Iran, Kazakhstan to build joint venture oil refinery in Amirabad Port
Director General for Mazandaran provincial Organization of Industry, Mine and Trade Mohammad Mohammad Pour Omran said on Sunday that Iran and Kazakhstan planned to build a joint venture oil refinery in Amirabad Port. He made the remarks in a joint economic meeting between Kazakhstan delegation and Mazandaran trade delegation in…
Iran seeking to absorb investments for its energy sectors
Iran’s Charged Affairs in London Mohammad Hassan Habibzadeh said Iran is seeking to absorb investments for its energy sectors. Addressing “The Growing Economies Energy Forum” here on Thursday, he said Iran will be offering appropriate conditions to the investors interested in the area. Noting that the Islamic Republic is planning…
New South Pars gas platform to be installed tomorrow
A senior Iranian official said here on Wednesday that the construction of the gas platform of the 17th phase of South Pars gas field has been finished thanks to the nonstop endeavors of the domestic experts. Managing Director of Mobin-Sazehgostar Company, Babak Abbaspour said the platform will be installed in…
120 foreign banks reestablishing brokerage ties with Iran
Export Development Bank of Iran says, following the implementation of the JCPOA, it has reestablished brokerage relationships with 120 foreign banks. Prior to the imposition of western-imposed sanctions, Export Development Bank of Iran used to maintain brokerage relationships with around 400 foreign banks across the world. During sanctions, however, these…
