Iran, Czech Republic sign MOU on mineral co-op

Iran, Czech Republic

The Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) signed a memorandum of understanding on mineral cooperation and exchange of technological data and knowledge with Czech Ministry of Industry and Trade, the official website of IMIDRO reported on Monday.

The MOU was signed in a meeting in Tehran between IMIDRO Managing Director Mehdi Karbasian and Czech Deputy Minister of Industry and Trade Eduard Muricky, the report said.

“The Czech Republic has high capacities in technology of mining machineries and equipment and we are inclined to develop ties with the country,” Karbasian said.

“Formation of joint mineral working groups can pave the way for exchange of experience and latest mineral and industrial technologies between the two countries,” he added.

Muricky, for his part, referred to a 50-percent increase in exports of his country to Iran during the past year adding that “Iran and the Czech Republic have found the way to boost trade and signing such agreements can smooth the path for further cooperation.”

Iran, Czech Republic sign MOU on mineral co-op

Iran, Czech Republic

 The Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) signed a memorandum of understanding on mineral cooperation and exchange of technological data and knowledge with Czech Ministry of Industry and Trade, the official website of IMIDRO reported on Monday.

The MOU was signed in a meeting in Tehran between IMIDRO Managing Director Mehdi Karbasian and Czech Deputy Minister of Industry and Trade Eduard Muricky, the report said.

“The Czech Republic has high capacities in technology of mining machineries and equipment and we are inclined to develop ties with the country,” Karbasian said.

“Formation of joint mineral working groups can pave the way for exchange of experience and latest mineral and industrial technologies between the two countries,” he added.

Muricky, for his part, referred to a 50-percent increase in exports of his country to Iran during the past year adding that “Iran and the Czech Republic have found the way to boost trade and signing such agreements can smooth the path for further cooperation.”

Korean company to invest in construction of 3 wind farms in Iran

invest in construction

 South Korean company is to invest in construction of three wind farms in the south-eastern Iranian province of Sistan-Baluchestan, IRIB news reported on Sunday.

As the report said, with the capacity of generating 150 megawatts of power each, the three wind farms are to become the largest ones in Iran.

The project will cost $330 million and will be completed within the next two years, the report added.

“Implementing this project, South Korea seeks expansion of economic ties with Iran in the field of renewable energies,” CEO of the South Korean company was quoted as saying in the same report.

In late July, the former Energy Minister Hamid Chitchian said the country’s power generation capacity from renewable sources is planned to increase by 600 MW by the end of current Iranian calendar year (March 20, 2018).

Chitchian put Iran’s current renewable capacity at 420 MW.

He said since 20 years ago Iran has been planning to increase renewable energy share in the country’s basket of energy and renewables account for 12,000 MW out of the 76,000 MW electricity generation capacity of Iran.

PwC to help Iranian companies invest in other countries

PwC to help Iranian

PricewaterhouseCoopers’ (PwC) Auditor and Tax Consultant Jens Rönnberg, in a meeting at Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) on Monday, announced that the multinational professional services network is ready to support Iranian companies to invest in different countries, TCCIMA Public Relations Department announced.

During the meeting, held between PwC’s representatives and Iranian entrepreneurs and officials from banking, stock exchange, and international commerce sectors, Rönnberg said that considering the fact that Iran is a large country with a significant market, the major point under the current circumstances is making foreign investors feel confident about entering Iranian market, while it is vital for Iranian firms to boost financial transparency.

“In case of receiving the required permit, PwC will open an office in Tehran within three to six months to collaborate with Iranian companies on providing services,” the PwC official announced.

As TCCIMA quoted its head Masoud Khansari addressing the same meeting, as of the implementation of nuclear deal with the six world powers in January 2016, 200 foreign trade delegations have visited Iran to investigate investing here. “Iran is a safe country with young and educated workforce and can be a good destination for foreign investors,” he said.

Ukrainian president, PM back expansion of ties with Iran

Ukraine’s president

“Ukraine’s president, prime minister, and minister of energy back development of bonds with Iran,” the portal of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) quoted the eastern European country’s Deputy Minister of Energy and the Coal Industry Galina Karp as saying on Friday.

In a meeting with ICCIMA Head Gholam-Hossein Shafeie, who took a trip to Kiev leading a high-raking delegation, Karp said that regarding the available wide range of fields for boosting common cooperation, Ukrainian economic enterprises are inclined to collaborate with Iranians on establishing gas and oil pipelines or on renovating, maintenance and establishment of new power plants.

Shafeie, for his part, announced that Tehran has been expanding cooperation with Kiev and considering Ukraine as a gateway to Europe; adding that “expanding economic ties with Ukraine would guarantee Iran’s access to Europe.”

Despite the 30-percent growth experienced in bilateral trade between the two countries last year, the figure can be improved dramatically considering the available potentials and capacities for the two sides.

Several credit lines expected to be opened for Iran soon: CBI governor

Several credit

Central Bank of Iran (CBI) President Valiollah Seif said that Iran expects several credit lines to be opened for the country in near future, IRNA reported on Sunday.

Speaking at an inauguration ceremony in Tehran on Sunday, the official noted that there is a strong will among the country’s foreign trade partners for financing Iranian projects.

“Signing new financial agreements will provide a desirable atmosphere for boosting trade and creating new job opportunities inside the country,” he said.

Seif further mentioned finalizing a €15b agreement with China Development Bank (CDB) and said “hopefully we will sign a general deal in the upcoming days which covers all the financed projects to avoid signing separate contracts.”

According to the governor, the credit line will be used to fund a wide range of infrastructure and production projects in the country.

The significant credit line will primarily use euros and yuan to bypass the U.S. sanctions.

Chinese state-owned CITIC investment company allocated a $10 billion credit line to several banks in Iran.

Seif said in August that three European countries including Austria, Denmark and Italy are set to open €22 billion credit lines for financing projects in Iran which in addition to the €8-billion credit line to be secured by South Korea’s Eximbank the total value of loan deals will reach €30 billion after Iran’s nuclear accord in 2015.

Iran has potential for $25b in technical, engineering exports 8/10/2017

engineering exports

Mahmoud Eskandari, the general director of TPO for development of knowledge-based services and products exports, also said that promotion of exports is one of the main plans of the government and in this due TPO has changed it organizational structure to recognize and remove the barriers that exporters are facing.

 

Non-oil exports from Shahid Rajaee Port rise 11% in 4 months 8/10/2017

Non-oil exports

Allah-Morad Afifipour, the managing director of Hormozgan Province’s Ports and Maritime Department, announced on Tuesday that 12 million tons of non-oil commodities mainly including minerals, metals, petrochemicals, and foodstuff have been exported from the port during the four-month period, Tasnim news agency reported.

The official said China, India, South Korea, Japan, Turkey, United Arab Emirates and European countries have been the major export targets of the products.

Afifipour had previously said that loading and unloading of commodities at Shahid Rajaee Port increased five percent during the first four months of the current year compared to the same period of time in the past year.

Some 27.908 million tons of commodities were loaded and unloaded at Shahid Rajaee Port during the four-month period, he said.

The official said in late June that tens of projects worth 30 trillion rials (about $799 million) are underway at Shahid Rajaee Port.

Among these projects, he referred to establishment of three oil terminals as well as access roads at the value of 600 billion rials (about $15.9 million).

Iran rises oil output in July OPEC 8/12/2017

Iran rises oil output

The OPEC’s report also announced Iran’s oil output based on direct communication. It said the country’s oil production in July reached 3.9 million bpd, a 20,000 bpd decline from 3.88 million bpd in June.

Meanwhile, the report put the country’s heavy oil price at $46.01 in July, an increase of $1.39 or 3.1 percent from $44.62 in June.

Iranian crude oil exports rose by 45,000 bpd in July compared to the preceding month, Shana news agency reported on August 1, citing a report by Oil Ministry.

The report did not reveal the exact volume of exports but said “The country sent over 2.2 million bpd of crude oil to European and Asian buyers in July.”

Shipments to the Asian buyers including China, South Korea, India and Japan stood at 1.3 million bpd, it added.

In its Annual Statistical Bulletin report released in early July, OPEC said Iran’s oil exports in 2016 reached 1.921 million bpd, a 77.6 percent rise compared to 2015.

 

Iran’s exports to S Africa jump 90% 8/12/2017

Iran’s exports

“Iran’s exports to the African country stood at $42 million in the said period, an increase of $20 million from its preceding year,” Farzad Piltan said.

Dates, acetaminophen, bitumen, pistachio, asphalt, and liquid butane were among the main goods exported to South Africa, he added.