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Hyundai, Posco Daewoo to invest in Iran
2016/Apr/9
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South Korea”s Hyundai Engineering and Construction Co. (E&C), Posco Daewoo Corp. and the Export-Import Bank of Korea (Korea Eximbank) will sign an agreement to invest in building a 1,000-bed hospital for Shiraz University of Medical Sciences in Iran, according to the investment banking industry Thursday.
Posco CEO Kwon Oh-joon, Posco Daewoo CEO Kim Young-sang, Hyundai E&C CEO Jung Soo-hyun and the Eximbank Chairman Lee Duk-hoon next month will ink a memorandum of understanding with Iran”s Health Ministry to build the university hospital in the southern city of Shiraz, pulsenews.co.kr reported.
The Posco Daewoo and Hyundai E&C consortium had won the procurement bid by the Iranian government. Eximbank will arrange most of the funding for the construction.
Hospitals have been a part of renewed infrastructure and rebuilding projects in Iran following the lifting of international sanctions in January. Samsung C&T Corp. will take part in the building of a new 1,200-bed hospital for Shahid Rajaie Cardiovascular, Medical and Research Center in Tehran.
Hyundai E&C is in charge of the construction that is to cost a total of $500 million, of which 85 percent will be financed by the Korea Eximbank.
Posco Daewoo will supply medical equipment for the newly built hospital. It is also working on to take part in the Iranian state project of building a Mahdieh Clinic Hospital in Tehran.
(iran daily) |
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2016/Apr/9 |
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Bank Muscat to open Iran office
2016/Apr/7
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Oman”s Bank Muscat announced that the bank”s first representative office will begin operations in Iran later this year.
"The bank is in the process of registering the representative office and expects it to open later in 2016," Bank Muscat said, Reuters reported.
On February 25, the bank had announced that it planned to open an office in Iran.
The announcement came after the Central Bank of Oman (CBO) approved the request from the bank to open a representative office in Iran following the removal of anti-Tehran sanctions.
There has been growing interest in trade and banking ties with Iran since Tehran and the P5+1 (Russia, China, the US, Britain, France and Germany) reached a nuclear deal on July 14, 2015 and started implementing it on January 16.
The comprehensive nuclear deal, known as the JCPOA, terminated all nuclear-related sanctions imposed on Iran.
(iran daily) |
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2016/Apr/7 |
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U.S.-Iran trade doubles in Jan.-Feb. 2016
2016/Apr/7
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The volume of trade between Iran and the U.S. in the first two months of 2016 hit $46.2 million and registered a 54-percent growth, compared to the same period in the preceding year, Tasnim news agency reported on Wednesday.
According to the recent statistics released by the U.S. Department of Commerce, Washington’s exports to Tehran augmented 47 percent during the said time and surpassed $44.1 million.
The country exported $33.9 million of goods to Iran in February, which documented 102 percent increase, compared to the same time in the year before when the number was a bit more than $16.7 million.
The Islamic Republic’s total exports to the U.S. was around $2.1 million in the past February, a while after the penned accord between Iran and P5+1, known as the Joint Comprehensive Plan of Action (JCPOA), came into practice in mid-January and anti-Iranian financial embargo started to get annulled.
Iran had no export to the U.S. in January.
(tehran times) |
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2016/Apr/7 |
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Thai EXIM Bank provides financial services to Iran
2016/Apr/7
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Export-Import Bank of Thailand (EXIM Bank) has launched financial services in support of trade between Thailand and Iran.
EXIM Bank President Manas Chaemweha and acting Managing Director Khemmathat Sai-chuea announced the bank”s new services to support Thai-Iranian trade for the first time in Thailand, thainews.prd.go.th reported.
The services are in line with the Thai government”s policy to increase the Thai-Iranian trade value to $3 billion within five years. Trade between the two countries was $300 million in 2015.
Potential Thai products in the Iranian market include agricultural products, food, TVs, wood and wooden products, air conditioners and plastic resin.
(iran daily) |
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2016/Apr/7 |
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“Germany”s VW close to Iran auto deal”
2016/Apr/4
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Iran said on Sunday that Germany”s auto giant Volkswagen is expected to seal a deal with an Iranian partner in the near future to invest in the country”s car industry.
Iran”s Ambassador to Berlin Ali Majedi said Volkswagen has been looking into the Iranian car industry for the past year and are closer than ever to a final investment decision.
Majedi said the company”s management have been specifically studying the capabilities of several local carmakers and are now trying to choose between only two companies.
He did not name the companies but some reports say they could be Kerman Motor and Mammut Group.
Volkswagen announced last September that it is grooming its Skoda brand for the Iranian market.
"Iran is a very interesting market with great opportunities," VW brand R&D chief Heinz-Jakob Neusser said at the time.
VW will conclude an assessment of the country”s auto market by the end of the year, Reuters quoted him as saying.
Neusser said it is still too early to say which product VW could use to go in with “but of course we see the potential".
Reuters further quoted a company source as saying that VW was considering a move into Iran with the mass-market Skoda and Seat brands.
Volkswagen”s last venture in Iran involved its production of the Gol compact with Iran”s Kerman Khodro before withdrawing under US pressures.
Other German automakers including Mercedes have already started talks to form partnerships with Iran Khodro – the leading Iranian car giant.
The media in Tehran reported in mid-March that a commercial deal between Iran Khodro and Mercedes is imminent.
In January, the German carmaker said it had signed letters of intent with local partners Iran Khodro Diesel and Mammut Group to arrange a "comprehensive re-entry" into the country.
The areas of cooperation include a joint venture for local production of Mercedes-Benz trucks and powertrain components plus the establishment of a sales company for Mercedes-Benz trucks and components, it said then.
Daimler also plans to return as a shareholder in the former engine joint venture Iranian Diesel Engine Manufacturing Co. (IDEM), based in Tabriz.
Leading carmakers are seeing a pent-up demand for cars in Iran, a country of more than 80 million people, which is emerging from years of sanctions.
(Press TV)
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2016/Apr/4 |
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