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
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
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
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
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
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
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
Economy
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.
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.
Economy
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.
Economy
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."
Economy
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.
Economy
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.
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.
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.”
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.
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
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
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.”
Pages: 1 2
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
Swiss-based company Autoneum has concluded an exclusive license agreement with Iranian automotive supplier Ayegh Khodro Toos (AKT) for the production and distribution of its multifunctional components for acoustic and thermal management in Iran.
In the future, Ayegh Khodro Toos will produce carpet systems and inner dashes at its plant in Mashhad (Razavi-Khorasan province) for IKAP, a joint venture between Iran Khodro, the Iranian car manufacturer, and PSA, the French automotive group. The first vehicle equipped with Autoneum components, an SUV, will be launched in early 2019.
In order to offer Autoneum’s customers the sought-after product portfolio in the Iranian automotive growth market, the Company has concluded a license agreement with the Iranian automotive supplier Ayegh Khodro Toos for the production of innovative components for noise and heat protection in vehicles.
From the beginning of 2019, Ayegh Khodro Toos will produce carpet systems, inner dashes and floor insulators as well as trunk trims in its Mashhad plant in the northeast of the country for Iran-producing car manufacturers Iran Khodro and PSA.
Supplying additional international and local vehicle manufacturers is planned. In cooperation with Autoneum, Ayegh Khodro Toos benefits from the innovative strength and long-standing expertise of the market and technology leader in acoustic and thermal management. The components developed by Autoneum at its research center in Winterthur, Switzerland, make vehicles lighter, quieter and safer and reduce vehicle weight, fuel consumption and CO2 emissions.
Commenting on the signing of the contract, Martin Hirzel, CEO of Autoneum, said:
“With 80 million inhabitants and just around 1.5 million vehicles produced annually, Iran is one of the global growth markets and a central automotive hub for the Middle East, Far East and the Caucasus region.
“In view of the strong sales potential and the need of our international customers for lightweight components for acoustic and thermal management for regional vehicle production, we are convinced that we have found an optimal solution with our license partner Ayegh Khodro Toos. Autoneum’s innovation leadership and the manufacturing expertise of Ayegh Khodro Toos complement each other, ensuring the market-oriented launch of the Autoneum product portfolio in Iran.”
Hossein Yazdanbakhsh, Managing Director of Ayegh Khodro Toos, explained:
“We are very excited about the partnership with Autoneum and are proud that the market leader in acoustic and thermal management has decided on Ayegh Khodro Toos. Due to our knowledge of the Iranian vehicle market and years of operational expertise, car manufacturers in Iran will now also benefit from the highest product quality.”
Ayegh Khodro Toos develops and produces sealants and dampers for the automotive, rail and marine industries. Founded in 1999, the company is the first manufacturer of bituminous magnetic vibration and sound damping pads in Iran. In Mashhad, in northeastern Iran, Ayegh Khodro Toos employs around 80 people. The Company’s customers include the French automobile manufacturers PSA and Renault-Nissan as well as Iran Khodro and other Iranian manufacturers.
(Source: Autoneum)
By editor on in Uncategorised
The Industrial Development & Renovation Organization of Iran (IDRO Group) has signed a deal with Austria’s HOT Engineering for carrying out studies on Susangerd Oilfield in Iran.
The group had previously signed a cooperation deal with the National Iranian Oil Company (NIOC) for developing the field.
The document entails putting together a master development plan (MDP) by the Austrian company for developing the field, head of IDRO Executive Board Mansour Mo’azzami said.
HOT is a leading E&P reservoir consultancy and knowledge transfer organisation with headquarters in Austria, branch offices in Germany, UAE and Libya and a global network of representative offices.
(Source: Shana)
Iran Boosts Condensate Exporting Capacity
Autoneum enters Iran Growth Market
Tags: Austria, DJ, featured, HOT Engineering, Industrial Development and Renovation Organization of Iran (IDRO), National Iranian Oil Company (NIOC), Susangerd oilfield
