Iran is set to build its largest-ever solar farm with a capacity as much as 1,000 megawatts in Markazi province, central Iran, a senior official said. Saeed Farrokhi, Markazi province’s deputy governor for economic affairs, said the photovoltaic power plant will be constructed over a 2,000-hectares area near the city of Saveh, turning it into […]

 “The Central Bank of Iran (CBI) has neither overlooked nor postponed reformation of banking system during the past recent months,” the central bank’s governor Abdolnasser Hemmati announced underscoring that the bank has always had modification of banking system on its agenda. “During the past three months [since the appointment of Hemmati as CBI governor], all […]

 Energy Minister Reza Ardakanian said on Tuesday that the electricity generation capacity in Sistan and Baluchestan province is set to reach 2,685 megawatts by March 2021. Noting that the power plants in Sistan and Baluchestan currently generate some 1,340 MW of electricity, Ardakanian said several projects are underway across the southeastern province that are slated […]

Head of Islamic Revolution Mostazafan Foundation Mohammad Saeedikia revealed the allocation of 15 billion rials worth of credit to one of the deprived cities in Sistan and Baluchestan province. He made the above remark in the inaugural ceremony of 800 residential units, special of relief seekers of this province in Qasr-e Qand, and said that […]

India’s finance ministry has exempted rupee payments made to the National Iranian Oil Co (NIOC) for crude oil imports from a steep withholding tax, according to a government order reviewed by Reuters. The exemption, put in place December 28 but backdated to November 5, will allow Indian refiners to settle about $1.5 billion of outstanding […]

 The national budget bill for the next Iranian calendar year 1398, which starts on March 21, 2019, has envisaged transferring 50 trillion rials (about $1.19 billion) worth of state-run shares to the private sector, Mohammadreza Pour-Ebrahimi, the chairman of the Parliament Economic Committee, told IRNA on Tuesday. As previously reported, in its planned budget for […]

 Statistics of the Ministry of Industry, Mine and Trade show that $625 million worth of Foreign Direct Investment (FDI) has been approved in mineral and industrial sector since the beginning of the current year up to the end of Iranian month of Mehr (March 21 – Oct. 22). This huge volume of investment is related […]

Pakistan’s Minister for Power Omar Ayub Khan says his country is looking forward to boost its existing power cooperation with Iran. During a Monday meeting with Iranian Ambassador to Pakistan Mehdi Honardoost in Islamabad, Ayub Khan said that Pakistan is ready to hold negotiations on the renewal of the agreement on100MW electricity import to Balochistan province. The […]

 In a meeting between Central Bank of Iran (CBI) Governor Abdolnaser Hemmati and Syrian Minister of Economy and Foreign Trade Mohammad Samer al-Khalil in Tehran on Monday, the two sides investigated the ways to facilitate banking transactions between Iran and Syria, CBI website published. As reported, establishment of a joint bank was one of the […]

Director General of Azarbaijan Railways General Bureau Shapour Arsalani said that export volume of freight through provincial railways company registered a significant 1.5fold increase in nine months of the current Iranian calendar year (March 21 – Dec. 21). Given the above issue, exports of freight from railways of this province rose 1.5 times more as […]