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Iran, Iraq sign oil swap contract for 1 year

Iran, Iraq sign oil swap contract for 1 year - Mehr News Agency وزیر نفت عراق، جبار اللعیبی TEHRAN, Dec. 10 (MNA) – Tehran and Baghdad agreed to swap crude oil of northern Iraqi Kirkuk oilfield for Iranian oil in a one year contract subject to renewal.

Iraqi Oil Minister Jabar al-Luaibi recounted on Sunday that the deal is about swapping up to 60,000 barrels per day of crude produced from the northern Iraqi Kirkuk oilfield for Iranian, according to Reuters.

The agreement signed on Friday by the two OPEC member states provides for Iran to deliver to Iraq’s southern ports, on the PersianGulf, “oil of the same characteristics and in the same quantities” as those it would receive from Kirkuk.

“This is an agreement for one year and then we will see after that whether to renew it,” Luaibi told reporters in Kuwait City on the sidelines of an Arab oil ministerial meeting.

The deal in effect allows Iraq to resume sales of Kirkuk crude, which have been halted since Iraqi forces took back control of the fields from the pro-Barzani forces in October.

Between 30,000 and 60,000 bpd of Kirkuk crude will be delivered by tanker trucks to the border area of Kermanshah, where Iran has a refinery.

Luaibi also said that the construction of an oil pipeline from Kirkuk to the Turkish port of Ceyhan will take one year to build.

It will replace an old, badly damaged section of the Kirkuk-Ceyhan pipeline. It will start from the nearby city of Baiji and run to the Fish-Khabur border area with Turkey.

The territory that the Kirkuk-Ceyhan pipeline ran through was taken by ISIL terrorists in 2014 and then recaptured by Iraqi forces over the past two years.

Kirkuk is one of the biggest and oldest oilfields in the Middle East, still estimated to contain around 9 billion barrels of recoverable oil.

YNG/ PR

Iranian hand-woven carpet exports jump 31 pct

Tehran (ISNA) – The head of Iran National Carpet Center announced that the exports of Iranian hand-woven carpet have increased 31% during the first eight months of the current fiscal year (March 21-Nov 21).

“More than 3 million square meters of handmade carpets are annually woven in Iran, two-thirds of which are exported and the rest is used to meet the domestic demand,” the head of Iran National Carpet Center Hamid Karegar said.

“More than 3,000 tons of hand-woven carpets worth $359 million were exported from Iran during the eight months to Nov. 21, registering a 31% rise compared with the similar period of last year,” he added. 

“Last year, exports amounted to $359 million. Persian hand-woven carpets are exported to 80 countries,” he continued. With about $90 million worth of purchases, the US was last year’s top importer of Persian carpets.

End Item

Germany, the main foreign investor in Iran

سرمایه گذاری خارجی

Tehran (ISNA) - An official at the Iranian ministry of industry, mining and trade announced that Iran has attracted $11 billion in foreign investment since the beginning of the eleventh government (2013).

The Director General of the Foreign Investment department Afrouz Bahrami, pointed out that Iran has attracted $11 billion of foreign investment from 2013 to this day and the countries that have had more investment in Iran are Germany, Italy and China respectively.

She added that this investment figure was concerned with 252 projects in the industry, mining and trade sector, of which 106 projects were in operation.

“The provinces of Fars, Bushehr and Kerman attracted the most foreign investment respectively,” Bahrami went on to say.

End Item

Iran, South Korea sign 22 agreements

پرچم ایران و کره جنوبی

Tehran (ISNA) – The private sector companies of Iran and South Korea signed 22 joint cooperation agreements on transferring technology.

These contracts were inked in the presence of 8 South Korean and 50Iranian companies in different fields such as the production of thermal and cold insulation, solar panels and new energies, lithium batteries and electric motors.

Iran’s deputy minister of industry, mining and trade Sadegh Najafi participated in the signing ceremony.

End Item

Iran-Pakistan trade up 31pct

Tehran (ISNA) - Lack of information about the capabilities of Iran and Pakistan in the business communities of the two neighboring countries is hindering the promotion of bilateral trade, but the situation has been improving as bilateral trade rose by 31% last year.

“The business communities of both countries are totally unaware of each other’s capabilities and opportunities. Therefore, we have to focus on exchange of information, trade delegations and other promotional activities between the two countries,” Iran’s ambassador to Pakistan, Mehdi Honardoost, said.

The envoy was speaking at a meeting with the officials of Karachi Chamber of Commerce and Industry at the Karachi chamber, Associated Press of Pakistan cited a KCCI press release as reporting.

The Iranian ambassador said both countries have many commonalities that could not be found between any other countries of the entire region.

“There is a huge potential of cooperation between Iran and Pakistan,” he said.

The envoy is of the view that regional problems like terrorism, human trafficking and drug trafficking should be solved by the regional countries, which had common perception, common interests and common concerns.

Honardoost said Iran is keen to develop its ties with Pakistan by focusing on enhancing trade that has continued to grow each year.

Exporting electricity to Pakistan, implementing the Iran-Pakistan Gas Pipeline, signing a free trade agreement and commencement of banking transactions between the two brotherly countries reflected this approach.

“Your rivals are much faster and active than you, so you also have to take steps accordingly. You have to grab some more portion of the Iranian market that has a lot of potential for Pakistani goods and services. We are also ready to share almost everything with our Pakistani brothers and sisters,” he said.

Referring to high-level meetings between the political leaders of the two countries and visits of delegations, the ambassador said the rise in exchange of delegations indicates that the horizon for enhanced trade ties is “bright and clear”.

End Item

Trading 483,000 tonnes of various commodities on IME

Tehran (ISNA) - During weekdays ending up to 7th of December, while about 483,736 MT of commodities worth over 308 million USD were traded in Iran Mercantile Exchange, the trade value experienced a growth of 21%.

According to the report from IME International Affairs and PR, last week, on the domestic and export metal and mineral trading floor of IME, 163,950 MT of various products worth close to 134.2 million USD were traded.

On this trading floor, 159,181 MT of steel products, 3,380 MT of copper, 1,200 MT of aluminum 130 MT of molybdenum concentrates, 9 MT of precious metal concentrates, 50 MT of zinc as well as 10 kg of gold bullion were traded.

The report declares that on domestic and export oil and petrochemical trading floors of IME, 262,411 MT of different commodities with the total value of 160 million USD were traded.

On this trading floor, more than 88,712 MT of bitumen, 68,145 MT of polymer products, 66,330 MT of VB feed stock as well as 21,500 MT of lube-cut oil, 13,465 MT of chemical products, 1,260 MT of sulfur, 989 MT of base oil and slack waxes, 1,010 MT of insulation and 1,000 MT of slaps waxes were traded.

Moreover, on the agricultural trading floor of IME, 57,355 MT of various commodities worth over 13.4 million USD were traded. On this trading floor, 56,250 MT of wheat, 470 MT of maize, 75 MT of sugar, 100 MT of crude vegetable oil as well as 460,000 day old chicks were traded by customers.

End Item

Iran steel exports climb 27 pct

Tehran (ISNA) - Major Iranian steelmakers exported 4.56 million tons of semi-finished and finished steel products during the first eight months of the current fiscal year (March 21-Nov. 21), registering a 27% growth compared with last year’s corresponding period, the Iranian mines and mining industries development and renovation organization reported.

The export’s volume for a period from Oct. 23 to Nov. 21 stood at 584,847 tons, up 57% year-on-year, Financial Tribune reported.

Iranian steelmakers’ shipments were continuously on the rise month-on-month save for the seventh and the second month of the Iranian year respectively.

The IMIDRO data, released this week, are included in a preliminary report on large-scale exports. A more comprehensive and detailed version, including smaller private mills’ performance, often follows in about two weeks' time by the Iranian Steel Producers Association.

Khouzestan Steel Company zoomed past all rivals in the period under review, as it exported 1.73 million tons of slab, bloom and billet, up 57% YOY.

KSC has sustained a double-digit growth each month so far this year.

Bloom exports had the lion’s share of KSC's shipments with 829,168 tons and went up 165% YOY. Billet exports came next with 474,258 tons up 11%, followed by slabs with 431,957 tons, growing 18% YOY.

The steelmaker located in the southwestern Khuzestan Province, exports to 13 countries. About half of the exports go to the Middle East and North Africa region. Other major export destinations are located in the Far East and Americas.

Esfahan Steel Company was the second biggest exporter during the eight months, with 742,375 tons of beam, rebar, coils and other products shipped overseas, up 83% YOY.

Rebar made up 103,717 tons of ESCO’s overall exports, dropping 3% YOY. It was followed by beam and coil with 72,195 tons and 39,963 tons respectively. Beam shipments were down 30% YOY, while coil exports surged 996%. Steel products listed as "other" made up 526,500 tons of all the exports, up 177% YOY.

Beam and rebar shipments were down, while coil exports recorded a 454% YOY upsurge to 2,800 tons.

Hormozgan Steel Company retained its spot as the third largest exporter by shipping 777,897 tons of slabs, up 5% YOY. The steelmaker’s exports in the eighth month rose by 8% YOY to 152,738 tons.

As a subsidiary of Iran’s largest steelmaker Mobarakeh Steel Company, HOSCO has outperformed its parent company in exports for five months in a row so far this year.

Mobarakeh took the fourth spot as it exported a total of 727,381 tons of hot and cold-rolled, acid-washed, tin-plated, coated, checkered and galvanized flat steel during the eight months, down 41% YOY.

Together with its subsidiaries, MSC is the largest flat producer in the Middle East and North Africa region, accounting for 1% of Iran’s GDP.

South Kaveh Steel Company came next, as its billet exports stood at 458,000 tons.

Khorasan Steel Company was next with 61,542 tons of rebars exported, up 20% YOY.

Iran Alloy Steel Company took the next rank with 54,553 tons of rebar shipments, up 85% YOY.

As part of the 20-Year Vision Plan (2005-25), the Iranian steel industry aims to become the world’s sixth largest steelmaker by reaching an output capacity of 55 million tons per year by the deadline (2025).

Exports are expected to reach 8 million tons in the current fiscal year, which ends on March 20, 2018.

End Item

Monthly trade value in IME hits $1,130 million

Tehran (ISNA) - Over November, 2017, different trading floors of Iran Mercantile Exchange witnessed trading of more than 1 million and 983 thousand tonnes of commodities worth over 1,130 million USD.

According to the report by the IME’s International Affairs and PR, during the last month, the oil and petrochemical trading floor of IME played host to trading of 1,119,092 MT of commodities worth more than 604 million USD.

On this trading floor, more than 362,737 MT of bitumen, 230,851 MT of polymer products and 111,634 MT of chemical products, 292,050 MT of VB feed stock, 77,500 MT of lube cut oil, 34,830 MT of sulfur, 4,057 MT of insulation, 1,500 MT of slaps waxes and 3,933 MT of base oil and slack waxes were traded by customers.

The metal and mineral trading floor witnessed trading over 655,323 MT of commodities worth more than 464.7 billion USD. On this trading floor 521,782 MT of steel, 19,000 MT of copper, 460 MT of molybdenum concentrates, 21 MT of precious metals concentrates, 50 kg of gold bullion, 60 MT of zinc, 110,000 MT of iron ore, 2,500 MT of direct reduced iron as well as 1,200 MT of aluminum and 300 MT of coke were traded by customers.

The report declares that the agricultural trading floor witnessed trading of more than 200,411 MT of commodities worth 49.6 million USD. Based on the report, 1,203,000 day old chicks, 193,250 MT of wheat, 50 MT of sugar, 5,859 MT of maize and 50 MT of rice were traded on this trading floor.

The side market of IME experienced trading of 2,300 MT of palm oil, 2,000 MT of potassium (potassium chloride), 2,097 MT of metal scrape, 1,000 MT of frozen meat, 25 MT of used locomotive engine oil, 20 MT of polymeric methylene di-phenyl diisocyanate, 18 MT of pure methylene diphenylene diisocyanate, 900 MT of polyester thread grade A, 40 MT of polyester thread grade WP, 16 MT of aniline and 6 MT of empty barrels.

End Item

Hungary ready to develop cooperation with Iran

پرچم ایران و مجارستان

Tehran (ISNA) - The Hungarian minister of economy said his country was ready to expand its cooperation with Iran in various fields.


In a meeting with his Iranian counterpart Massoud Karbassian, Hungarian minister of national economy Mihaly Varga said that his country was ready to extend its cooperation with Iran in various fields such as the construction of the cooling towers of power stations, the manufacture of electric buses, pharmacy, medical equipment, mobile laboratories in the biological field, airlines, tourism and banking cooperation.

The two parties also participated in the signing of a memorandum of understanding for cooperation between a Hungarian company and the industrial holding company of Shahr Bank.

End Item

Iran, Russia Sign MoU on Gas, LNG

Economy

Iran, Russia Sign MoU on Gas, LNG

Iran, Russia Sign MoU on Gas, LNG

TEHRAN (FNA)-Iran and Russia inked two Memoranda of Understanding (MoUs) to develop the two countries' cooperation in gas industries, specially in area of the Liquid Natural Gas (LNG).

The MoUs were endorsed between Iran's Oil Ministry and Russia's Gazprom in Tehran on Wednesday in the presence of Iran's Oil Minister Bijan Namdar Zangeneh and Gazprom CEO Alexei Miller.

The MoU deals with implementation of an LNG project in Iran and making it operational. The agreement on the Iranian side was signed by Ali Kardor, the managing director of the National Iranian Oil Company (NIOC).

The two countries also signed an MoU on the roadmap of developing gas industry in Iran.

In a relevant development last month, Iran's Industrial Development and Renovation Organization (IDRO) and Russia's Gazprom Company signed an MoU to broaden their cooperation on oil and gas explorations.

The MoU was signed between IDRO Chief Mansour Moazami and Russian Gazprom Company Vice-Chairman Vitaly Markelov in Tehran.

During the signing ceremony, Moazami pointed to 50 years of IDRO's background in the field of industry as well as oil and gas areas, and said, "The MoU will help Gazprom to use industrial opportunities in Iran.

Markelov, for his part, pointed to different fields of activities of the company, and said that the company is active in 26 countries.

"The Gazprom intends to start wide range of activities in Iran from primary works to completed phase," he added.

 

 

 

 

Iran, Russia Form Joint Working Group to Broaden Relations

TEHRAN (FNA)- Head of Iran-Russia Parliamentary Friendship Group Ramezanali Sobhanifard declared on Wednesday that a working group has been formed to enhance the relations between Tehran and Moscow in the wake of the recent visit by Iranian Parliament Speaker Ali Larijani to Russia.

"From Iran; the members of the Parliament's National Security and Foreign Policy Commission, the Iran-Russia Friendship Group and the Parliament's Research Center are present in the Joint Iran-Russia working group," Sobhanifard said.

The Iranian lawmaker reiterated that the working group will convene every two months.

Sobhanifard, meantime, pointed to the status quo of Iran-Russia relations, and said, "Iran-Russia relations have considerably expanded over past few years; we have witnessed an increase of 120 percent in Iranians' visits to Russia, and the travel of Russian citizens to Iran has increased by 35 percent while the number of Iranian flights to Russia has also increased to 16 flights per week," Sobhanifard said.

In relevant remarks in late April, Russian Foreign Minister Sergei Lavrov said that his country fully backs Iran's membership in the Shanghai Cooperation Organization (SCO) as all the West-imposed sanctions on Tehran have been lifted.

"Iran is now ready to be a full-fledged member-state of the SCO and that negotiations will be taken up in summer to bring the Islamic Republic to the fold," Lavrov said.

The Russian foreign minister reiterated that Iran has settled the problem of the UN Security Council sanctions and hence fully meets the SCO membership criteria.

"We hope that during their June summit in Astana, the heads of our states will be able to discuss the possibility of launching the procedure for admitting Iran into the organization as a full member," Lavrov added.

 

 

 

 

Senior Executives of Boeing, Airbus to Visit Iran Next Week

Economy

Senior Executives of Boeing, Airbus to Visit Iran Next Week

Senior Executives of Boeing, Airbus to Visit Iran Next Week

TEHRAN (FNA)- Senior managers of the giant aviation companies, Airbus and Boeing, are slated to arrive in Tehran in coming days to hold talks on financing the newly-purchased passenger planes.

"Our preference is to use domestic financial resources, but we also have the option to finance the purchases through Airbus and Boeing themselves,” Head of Iran Air, national flag bearer, public relations Massoumeh Asqarzadeh, said on Wednesday pointing to the next visit of Airbus and Boeing executives to Iran.

She reiterated that Iran Air has reached promising conclusions regarding the financiers of the plane deals, and said, "The result of the negotiations will soon be publicized."

Iran has signed contracts to buy 100 Airbus, 80 Boeing and 20 ATR passenger planes. The planes will replace the oldest planes for domestic and international flights. The company has already received three Airbus passenger planes.

 

 

 

 

German Chemical Giant Seeks Catalyst Technical Savvy from Iran

Economy

German Chemical Giant Seeks Catalyst Technical Savvy from Iran

German Chemical Giant Seeks Catalyst Technical Savvy from Iran

TEHRAN (FNA)- German petrochemical heavyweight BASF has ordered 180 tons of methanol synthesis catalyst from Iran's Petrochemical Research and Technology Company (PTRC).

According to the National Petrochemical Company (NPC), Esmaeil Ghanbari, PTRC managing director, said the item was 10 years in the making by PTRC and its quality has been approved by BASF as superior to its production and hence has ordered purchase of 180 tons of the catalyst.

"We are pretty glad that development of petrochemical industry via domestic technologies has become a strategic approach in the country," Ghanbari said.

He further added that BASF is also seeking to purchase the technical knowhow of building the item from PTRC, adding, "We are planning to mass-produce the item." 

 

 

 

 

Iran 5-Month Gas Exports up 64% Y/Y

Economy

Iran 5-Month Gas Exports up 64% Y/Y

Iran 5-Month Gas Exports up 64% Y/Y

TEHRAN (FNA)- Iran's export of natural gas rose by 64% in the first 5 months of the current Iranian calendar year which began on March 21.

Director of International Affairs at the National Iranian Gas Company (NIGC) Behzad Babazadeh said Iran has brought its gas exports to neighboring Iraq from 7 mcm/d to 14mcm/d over the first 100 days of President Rouhani's second term in office.

"NIGC is required to send only 7mcm/d of gas to Iraq but it has risen the gas export volumes to the country in summer due to their demand," he said.

Based on a gas export deal between Tehran and Baghdad, Iran can increase the volume of exports to 35 mcm/d which will be possible once Iran Gas Trunkline VI (IGAT VI) as well as new phases of the supergiant South Pars Gas Field come online, he added.

Moreover, the country's gas exports stood at 50 mcm/d during the 5 months which us 64% more than the same period last year.

 

 

 

 

Iran Produces 715 mb of Oil from West Karoon Joint Fields

Economy

Iran Produces 715 mb of Oil from West Karoon Joint Fields

Iran Produces 715 mb of Oil from West Karoon Joint Fields

TEHRAN (FNA)- The National Iranian Oil Company (NIOC) says Iran has recovered over 715 million barrels of oil from the joint field located in West Karoon region, west of the country.

Director of Integrated Planning and Director at NIOC Karim Zobeidi said 87 billion barrels of in-place crude oil is estimated to be in the region's reserves of which over 715 million barrels have been recovered by Iran so far, SHANA reported.

The fields' average recovery rate is 15% and 13 billion barrels of oil can be recovered from the region, he added. 

 

 

 

 

Iran, Turkey Ink MoU on Urban Waste Management

TEHRAN (FNA)- Industrial Development and Renovation Organization of Iran (IDRO) and Turkey's ÇUTAŞ Co. signed a Memorandum of Understanding on environmental issues and urban waste management.

Deputy head of IDRO Group for the development of advanced industries and energy megaprojects Fardad Daliri attended the signing ceremony for the said Memorandum of Understanding on waste management and asserted that industrial, commercial, agricultural and urban wastes are among the most serious problems for industries and urban development.

Asserting that modern technologies can be used to arrive at a nature-friendly solution for the disposal of waste by burning it and turning it into ash, Daliri added “after conducting the necessary research, Turkey will submit a report on this type of cooperation, investment and transference of technology to IDRO Group.”

In a relevant development in late November, a memorandum of understanding (MoU) was signed between Iran and Turkey in a Joint Economic Commission meeting to further cooperation between the two states.

Iran’s Ministry of Industry, Mine and Trade announced that the MoU was signed at the end of the 26th meeting of Iran-Turkey Joint Economic Commission by Iranian Industry, Mine and Trade Minister Mohammad Shariatmadari and Turkish Economy Minister Nihat Zeybekci.

The two ministers also inked a cooperation agreement in the field of technical-engineering. They agreed to cooperate on transfer of technical-engineering services and help their trade in the sector to hit $10 billion per year.

The 26th summit was convened at the Trade Promotion Organization of Iran in Tehran on November 26-27, 2017.

Transit facilitation was one of the most important issues discussed at the meeting. The memorandum signed between the two sides is entitled “transportation and transit facilitation.” This agreement will pave the way for more economic and trade relations between Iran and Turkey.

In a relevant development in October, high-ranking Iranian and Turkish officials in a meeting in Tehran signed four cooperation agreements.

The documents and Memoranda of Understanding (MoUs) which were endorsed in the presence of Iranian President Hassan Rouhani and his Turkish counterpart Recep Tayyip Erdogan are related to the two countries' customs and banking ties as well as cooperation between their national libraries and state TV and radio organizations.

After the meeting, President Rouhani underlined that the banking ties between the two countries will further expand and they will increase trade relations using their own national currencies.

 

 

 

 

Iran-Pakistan Trade Balance Up by 31 Percent

TEHRAN (FNA)- Tehran and Islamabad have considerably broadened their trade exchanges by trying to remove obstacles to business activities, Iranian Ambassador to Islambadad Mehdi Honardoust announced.

"The situation has been improving as bilateral trade rose by 31 percent last year," Honardoust said on Sunday, addressing a group of officials of Karachi Chamber of Commerce and Industry (KCCI) in Karachi.

The Iranian ambassador said both countries have many commonalities that could not be found between any other countries of the entire region.

“There is a huge potential for cooperation between Iran and Pakistan,” he added.

Honardoust said Iran is keen to develop its relations with Pakistan by focusing on enhancing trade that has continued to grow each year.

In relevant remarks in November, Honardoust underlined that Tehran and Islamabad are resolved to further broaden and strengthen bilateral relations and mutual cooperation.

There are huge potentials for cooperation between the two powers of the region, “with good neighborly ties and whole history of friendship and fraternity”, Honardoust said in an interview with Pakistan's English daily 'The Nation'.

He said Iran and Pakistan are determined to boost relationship, which was “completely opposite to the Western apparatus, creators of division among Muslim societies, which unfortunately has been evident in recent years. The Muslim societies have been under fire of division, which is exactly being pursued by foreign elements.”

 

 

 

 

Iran Ups Steel Exports by 27 Percent

TEHRAN (FNA)- Major Iranian steelmakers exported 4.56 million tons of semi-finished and finished steel products during the first eight months of the current Iranian year (March 21-Nov. 21), registering a 27% growth compared with last year’s corresponding period, the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) reported.

The IMIDRO data, released this week, are included in a preliminary report on large-scale exports. A more comprehensive and detailed version, including smaller private mills’ performance, often follows in about two weeks' time by the Iranian Steel Producers Association.

Iranian steelmakers’ shipments were continuously on the rise month-on-month save for the seventh and the second month of the Iranian year, respectively.

Khuzestan Steel Company zoomed past all rivals in the period under review, as it exported 1.73 million tons of slab, bloom and billet, up 57% year-on-year.

KSC has sustained a double-digit growth each month so far this year.

The steelmaker located in the southwestern Khuzestan Province, exports to 13 countries. About half of the exports go to the Middle East and North Africa region. Other major export destinations are located in the Far East and Americas.

Isfahan Steel Company was the second biggest exporter during the eight months, with 742,375 tons of beam, rebar, coils and other products shipped overseas, up 83% YOY.

Rebar made up 103,717 tons of ESCO’s overall exports, dropping 3% YOY. It was followed by beam and coil with 72,195 tons and 39,963 tons respectively. Beam shipments were down 30% YOY, while coil exports surged 996%. Steel products listed as "other" made up 526,500 tons of all the exports, up 177% YOY.

Beam and rebar shipments were down, while coil exports recorded a 454% YOY upsurge to 2,800 tons.

Hormuzgan Steel Company retained its spot as the third largest exporter by shipping 777,897 tons of slabs, up 5% YOY. The steelmaker’s exports in the eighth month rose by 8% YOY to 152,738 tons.

As a subsidiary of Iran’s largest steelmaker Mobarakeh Steel Company, HOSCO has outperformed its parent company in exports for five months in a row so far this year.

Mobarakeh took the fourth spot as it exported a total of 727,381 tons of hot and cold-rolled, acid-washed, tin-plated, coated, checkered and galvanized flat steel during the eight months, down 41% YOY.

Together with its subsidiaries, MSC is the largest flat producer in the Middle East and North Africa region, accounting for 1% of Iran’s GDP.

South Kaveh Steel Company came next, as its billet exports stood at 458,000 tons.

Khorasan Steel Company was next with 61,542 tons of rebars exported, up 20% YOY.

Iran Alloy Steel Company took the next rank with 54,553 tons of rebar shipments, up 85% YOY.

As part of the 20-Year Vision Plan (2005-25), the Iranian steel industry aims to become the world’s sixth largest steelmaker by reaching an output capacity of 55 million tons per year by the deadline (2025).

Exports are expected to reach 8 million tons in the current fiscal year, which ends on March 20, 2018.

 

 

 

 

Iran Falls in Ease of Doing Business Index

By editor on in Industry

By John Lee.

Iran has been ranked 124th out of 190 countries in the World Bank‘s recent Doing Business 2018 report, down from 120th place the previous year.

Despite the fall in the rankings, the report notes that over the previous year Iran improved access to credit information by reporting data on credit payments from an automobile retailer.

Top of the list were New Zealand, Singapore and Denmark, with last place going to Somalia, just behind Eritrea and Venezuela. Iraq ranked 168th, with Libya 185th.

Doing Business measures regulations affecting 11 areas of the life of a business. Ten of these areas are included in this year’s ranking on the ease of doing business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. Doing Business also measures labor market regulation, which is not included in this year’s ranking.

(Source: World Bank)

BASF seeks Catalyst Technical Savvy from Iran

Tags: Denmark, Doing Business Index, Eritrea, featured, New Zealand, Singapore, Somalia, Venezuela, World Bank

BASF seeks Catalyst Technical Savvy from Iran

By editor on in Industry

German petrochemical heavyweight BASF has ordered 180 tons of methanol synthesis catalyst from Iran’s Petrochemical Research and Technology Company (PTRC).

According to the National Petrochemical Company (NPC), Esmaeil Ghanbari, PTRC managing director, said the item was 10 years in the making by PTRC and its quality has been approved by BASF as superior to its production and hence has ordered purchase of 180 tons of the catalyst.

“We are pretty glad that development of petrochemical industry via domestic technologies has become a strategic approach in the country,” Ghanbari said.

He further added that BASF is also seeking to purchase the technical knowhow of building the item from PTRC, adding, “We are planning to mass-produce the item.”

(Source: Shana)

Former Central Bank boss denies meeting Zarrab

Iran Falls in Ease of Doing Business Index

Tags: BASF, featured, Germany, National Petrochemical Company (NPC), Petrochemical Research and Technology Company (PTRC), petrochemicals

Former Central Bank boss denies meeting Zarrab

From Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News.

Iran’s former Central Bank head Mahmoud Bahmani, reacting to Iranian-Turkish tycoon Reza Zarrab’s recent statements in a US court, says he never met with Zarrab.

In his testimony in a New York trial, Zarrab, who was arrested in the United States on March 19, 2016, explained how he helped Iran bypass US sanctions. He said he had meetings with Bahmani and had ties with former Iranian President Mahmoud Ahmadinejad.

During Ahmadinejad’s 2005-2013 presidency, Iran was under heavy sanctions over its nuclear program. Following the 2015 Joint Comprehensive Plan of Action, all nuclear-related sanctions against Iran were lifted.

In an interview with the semi-official ISNA news agency Dec. 12, Bahmani said he had had no meetings with Zarrab.

“I emphasize that I neither had a meeting nor any ties with him. I also don’t think that Mr. Ahmadinejad had a meeting with him either,” said Bahmani, adding, “Mr. Zarrab has just claimed that he had meetings with a number of people to bypass the sanctions; he didn’t say these meetings were for private purposes or the financial [issues Iran was facing].”

In response to a question about Zarrab’s having said he has an audio file of his meeting with Bahmani, the former top Iranian banker stated, “I had no meeting with Reza Zarrab. Suppose that I had such a meeting, holding a meeting is part of my job. The head of the Central Bank can have a meeting with anyone all over the world, but it is important what decisions are taken.”

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Domestic Refinery builds Transformer Oil Recycler

By editor on in Industry, Oil & Gas

Imam Khomeini Oil Refinery has manufactured a transformer oil recycler to separate water and particles from the oil.

Ali Jamshidi, managing director of the refinery, said the machine has been constructed with the aim of maximizing utilization of oil used in transformers of the facility.

The machine separates moisture and floating particles from oil. It also delays wearing out of the machinery, he added.

The tool can recycle over 400 liters/hour of oil and exploits paper filters for separation of particles as big as 0.5 microns.

(Source: Shana)

Russia Hosting Conference on Iran-North Caucasus Cooperation

Former Central Bank boss denies meeting Zarrab

Tags: featured, Imam Khomeini Refinery, refineries

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There are currently very few countries in the world with Irans conditions and opportunities for investment. After decades of sanctions and separation from international markets, Iran is now ready to take advantage of these opportunities.

These days the top story of some of the worlds most important news media states, Now that a general agreement has been reached on the nuclear issue between Iran and the P5+1, international investors are lining up behind Irans closed doors, ready to enter this countrys market. Once Irans doors open to international financial activities millions, or maybe billions of dollars will flow into the country Economic players in Iran are waiting with open arms for international investors.How to invest in iran Blog is proud to present you with information about Iran and its investment opportunities, standing by your side as a consultant, and a strategic partner, creating the groundwork for a satisfactory experience in Iran.

Welcome to Iran, an investment paradise for years

Global Investment was founded with a single vision, to help small to large enterprises with their strategic entry into the Iranian market by providing unmatched services for companies across all major industries. We can help you enter the hotspots of the market and will support and guide you toward a success story that remains rock-solid for the years to come.

We deliver exceptional insight and advice based on the highest standards of consulting practice using our 10 years of experience in the field. Our perfect blend of proprietary market entry solutions, strong local connections and expertise will assist you with maximizing your business potential in Iran. You can take advantage of our “real touch of the market” and break down entry barriers into the market. We make sure that you avoid making the wrong deals and provide you with Do’s and Don’ts of doing business in our country.

Join The Ultimate And Irreplaceable Experience Now.

Just define your interests, We will promote the best investment opportunities for you

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