• HEPCO Privatization: Once Bitten, Twice Bitten, Thrice?

    This is the story of Iran’s largest producer of mineral machinery, Heavy Equipment Production Company (HEPCO), who weathered two privatizations, two financial collapses and is now going through its second return to the government.
    HEPCO once used to command respect, not only in Iran but also in the Middle East. It was the main supplier of armored road machinery for Iranian forces in the 1980-88 Iran-Iraq War, had one of the largest workforce of specialized engineers in post-revolution Iran and singlehandedly met the market demand.
    But now its second primary shareholder in less than a decade has quit after months of worker strikes and inactivity in the factory, leaving the firm in limbo.
    The path ahead is still unknown for HEPCO. Legally speaking, the company should go to the previous owner, in view of the current one’s withdrawal. But the previous owner, under whose lead HEPCO withered, seems unenthusiastic to take the helm again, and so are the government officials in charge of the share transfer.

Domestic Economy

  • Caspian Ports Operating at One-Fifth of Capacity
    Iranian ports located along the Caspian Sea have the nominal capacity of around 30 million tons, but they are working at about one-fifth of their capacity that is no more than 6 million tons, the...
  • France Vows Pushback Against US Sanctions  on Iran
    France pledged on Friday to push back against the threat of US sanctions against French companies...
  • Raveesh Kumar
    India on Thursday said it will take measures to offset any adverse impact on its interests due to...
  • 29% Rise in Exports From Bazargan Border Crossing
    More than 1.68 million tons of non-oil products were exported from Bazargan border crossing in West Azarbaijan Province located in northwest Iran in the last Iranian year (March 2017-18), 
  • Airport Traffic Declines 2%
    Iran Airports Company registered 36,842 takeoffs and landings during the Iranian month ending April 20, which...
  • Turkey Will Keep Trading With Iran
    Turkey will continue its trade with Iran as much as possible and will not be answerable to anyone else, Economy Minister Nihat Zeybekci said on Tuesday, after US President Donald Trump said the...
  • US Nuclear Deal Pullout Bitter Blow to European Businesses
    US President Donald Trump’s decision to exit the Iran nuclear deal and reinstate sanctions could cost some of Europe’s biggest companies billions. The US Treasury Department has promised “wind-...
  • Trade With Georgia Rises by 28%
    Trade between Iran and Georgia last year stood at around $181 million, which indicates a 28% rise year-on-year. This was announced by Georgia’s First Vice Prime Minister and Minister of Economy and...
  • Cargoes transported from southern Iranian ports to Turkey and Central Asia hold the biggest share in Iran’s rail transit.
    Close to 1.6 million tons of goods were transited through Iran’s railroads in the last Iranian year (March 2017-18), indicating a more than 50% rise compared with the year before, a deputy minister...
  • Agro Economics Confab Opens
    The 11th Conference on Iranian Agricultural Economics opened in Karaj, Alborz Province, on Tuesday at the College of Agriculture & Natural Resources affiliated to the University of Tehran. The...
  • Wagon Pars Signs $62m Manufacturing Contract
    A contract worth 2.6 trillion rials ($62 million) to manufacture 100 gondola wagons was signed between the Wagon Pars company and a local company on Tuesday, the CEO of Wagon Pars said. Mohammad...
  • Khosravi Border to Open for Arbaeen Pilgrims
    Khosravi Border Crossing in Kermanshah Province will be open to pilgrims traveling to the Iraqi city of Karbala in Arbaeen that falls on Oct. 30 this year.  “The measure will be taken to spread...
  • Growth in Industrial, Mining Permits
    A total of 26,618 permits for the establishment, exploration and exploitation of industrial and mineral projects were issued during the last fiscal year (March 2017-18), data published by the...
  • Non-Oil Trade With Thailand Up 53 Percent
    Iran traded $1.08 billion worth of non-oil goods with Thailand during the last Iranian year (ended March 20, 2018)–53.17% more compared to the year before, making the Southeast Asian country Iran’s...
  • $142m in Loans for SSO Pensioners
    The Social Security Organization, Iran’s largest pension fund, plans to allocate 6,000 billion rials ($142.85 million) in cheap loans and affordable housing to its pensioners in the current year (...
  • Tehran-North Railroad Feasibility Project Gets Going
    Tehran-North Railroad feasibility project has gotten underway and is estimated to take at least two years, Mazandaran Governor General Mohammad Eslami said on Monday. “If the project is approved...
  • IKIA is the main international airport of Iran located 30 kilometers southwest of the city of Tehran.
    The first development phase of Imam Khomeini Airport City was delineated in a press conference themed "Investment Opportunities in Imam Khomeini Free Trade Zone and Special Economic Zone" on Sunday...
  • Industries Ministry Reviews  Last Year’s Production Growth
    Out of 44 selected industrial and mineral products surveyed by the Ministry of Industries, Mining and Trade, the production of 31 items experienced growth and 13 others saw a decline during the...
  • $85m Collected in Zakat Revenues Last Year
    A total of 3.6 trillion rials ($85.71 million) were collected in Zakat last year (March 2017-18) and the sum is estimated to increase to 4 trillion rials ($95.23 million) this year, Seyyed Reza...
  • Factories Buy 9,700 Tons of Fresh Tea Leaves
    Tea processing factories have bought about 9,700 tons of fresh tea leaves worth 260 billion rials (more than $6.19 million) from farmers in northern Iran following the spring harvest of the crop,...
  • More to It Than Meets the Eye
    Public institutions were meant to enter a “glass room”, a proverbial room where everything was transparent: budget figures, executive salaries and contracts.  This was a pledge Hassan Rouhani made...
  • Non-Oil Trade With Russia Dips 42%
    Iran traded $1.03 billion worth of non-oil goods with Russia in the last Iranian year (ended March 20, 2018), which is 42.14% less compared to the year before, making Russia the 18th biggest...
  • Newly Enforced AMC Rules: A Step in Right Direction
    Securities and Exchange Organization of Iran, which has lately joined IOSCO, the regulatory body of Iranian capital market, made an announcement on April 18 regarding asset management companies (...
  • Flask Imports Top $6 Million
    More than 2,779 tons of flasks worth close to 3 billion rials ($6.21 million) were imported in the last Iranian year (March 2017-18), according to data released by the Islamic Republic of Iran...
  • No one is jobless in Kish Free Trade Zone.
    The Statistical Center of Iran, the national statistical authority of the country affiliated to the Management and Planning Organization, will provide statistics on the economic indexes of Iranian...