TEHRAN – South Korean Hyundai Rotem signed a deal worth 720 million euro in Tehran on Saturday on building 450 railbuses in Iran. The deal was signed between the South Korean company, the Iranian Rail Industries Development Company, and the Islamic Republic of Iran Railways, known as RAI. The duration of the contract will be […]

Iran inked a $720m contract with South Korea to buy 450 rail buses from the latter within 6-year period. Pointing to the fact that there are only 120 rail buses active in the country, Iran’s Minister of Roads and Urban Development Abbas Akhoundi added that the contract is worth € 720, adding the Iranian side had […]

TEHRAN  – Yerevan has not received any official proposal from Iran on the purchase of natural gas at a price lower than the Russian one, an Armenian official said. The spokesman of Armenian Energy Infrastructure and Natural Resources Ministry, Vasak Tarposhyan, said Yerevan has repeatedly said it was ready to buy gas from any country […]

TEHRAN – Iran and South Korea signed a contract on Saturday to jointly manufacture railbuses for public transportation in suburban Tehran. The contract was signed during a ceremony in the Iranian capital, Tehran, attended by Iran’s Minister of Roads and Urban Development Abbas Akhoundi. According to the terms of the agreement, an Iranian-Korean consortium will […]

TEHRAN – Iran’s Ambassador to Belarus Mustafa Oveisi, and Belarusian Ministry of Transport and Communications (MoT) Anatoli Siwak discussed transportation issues in Minsk. At the meeting, which was held in Minsk, the capital of Belarus, Iran’s ambassador emphasized on the expansion of the bilateral and multilateral cooperation of the two countries in the field of […]

TEHRAN – Tbilisi hosted the fifth joint gathering of the heads of the railway administrations of Iran, Azerbaijan, Georgia, Ukraine and Poland, on December 01. The meeting was dedicated to the newly-launched ‘South-West Transport Corridor’, which links into the broader Trans-Caspian International Route project launched in 2016. The event concluded with the signing of a […]

BUSHEHR – The South Pars oilfield’s total production value from Mar. 21 to Oct. 22 this year has increased $3.155 billion more than the same period last year, a senior official with South Pars Gas Company (SPGC) said Saturday. The export planning manager of South Pars Gas Company, Abdolrahman Salehi, said the complex’s gas production has […]

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said U.S. energy firms are the main losers from the sanctions placed against his country. Speaking at the 173 OPEC meeting in Vienna on Thursday, Zanganeh called U.S.’s policy confusing and self-defeating, CNBC reported. “I don’t understand why U.S. companies cannot enter the Iranian market. They cannot […]

TEHRAN — Iran’s Department of Environment (DOE) has decreased the period of gasoline quality checks in eight metropolises from three months to a week. Before the new chief of DOE [Isa Kalantari] took office [in August] the gasoline quality check was being conducted quarterly, Mehr news agency quoted Shina Ansari, an official with the DOE […]

TEHRAN – Iranian oil minister Bijan Namdar Zaganeh who has traveled to Vienna in order to attend the OPEC conference on extending agreements to cut oil production, said that a 6 to 9 month oil cut extension is acceptable. Bijan Zanganeh said “according to the conference outcomes and the reports issued, I suppose we have […]