• Tuesday, April 7, 2020

self sufficiency economy in Iran

Discussion in 'Iranian Defence Forum' started by SubWater, Oct 28, 2019.

  1. SubWater

    SubWater SENIOR MEMBER

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    I will update this topic over time about Iran tries to become completely self sufficient in economy
     
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  2. SubWater

    SubWater SENIOR MEMBER

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    Iran opening large dairy plant to meet rising demand for butter, milk fats
    Sat Oct 26, 2019 05:28PM [Updated: Sat Oct 26, 2019 10:09PM ]
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    A large Iranian dairy factory is to open in a location to the west of the capital Tehran as authorities seek a full halt to massive imports of butter which costs tens of millions of dollar each year.

    Touring the site of the factory on Saturday, Iran’s minister of industries Reza Rahmani described the dairy plant as “a mega project” which will make Iran self-sufficient in production of butter and other milk fats.

    Iran imports more than 50,000 tons of butter each year to cover over 90 percent of its domestic demand. The dairy product is a staple of the Iranian breakfast and customs data from the previous calendar year shows that more than $100 million had been spent on butter imports until March.

    Rahmani said more than 5,000 people will work in the new factory, located in Shahriar, a district near Tehran rich in livestock farming, adding that another 50,000 jobs will be created in the wider supply and distribution chain.

    He said the government will back development plans in the privately-owned factory as it could enable Iran to start exports of various dairy products.

    A first phase of the new dairy plant will be opened “soon”, according to a report by the IRIB News, which also said that the factory will be built on a area of 17 hectares and its three phases will cost more than half a billion dollar.

    It added that some 1.3 million liters of milk will be processed in the facility each day, most of it supplied by livestock units in Shahriar and those in cities and counties to the north of Iran.

    Video in link
    https://www.presstv.com/Detail/2019/10/26/609643/Iran-dairy-factory-opening-butter-imports

    Iran tries to cover its red meat production problems by producing more white meat.
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    Iran reports significant surge in fisheries, aquaculture output
    Mon Oct 21, 2019 04:21PM [Updated: Mon Oct 21, 2019 04:27PM ]
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    Iran says fisheries, aquaculture production keep rising to respond to an increasing domestic demand.


    Iran has managed to significantly increase its fisheries, aquaculture output over the past years as demand for healthy and nutritious sea foods keeps surging inside the country.

    Head of Iran’s Fisheries Organization said on Monday that the annual fisheries and aquaculture production in the country would exceed a target of 1.250 million tons (1.37 million American tons) until March 2020, when the current Iranian calendar year ends.

    Nabiollah Khunmirzaei said annual output stood at 1.1 million tons in the year ending in March 2019, saying the figure was above a target defined in a five-year national economic plan that started in 2016.

    The official said a boom for fisheries industries in Iran was mainly a result of increased demand for seafood in the country.

    He said average consumption of sea food items reached 12.1 kilograms per person last year, up more than 50 percent compared to several years before.

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    PressTV-Iran reports four-fold growth in shrimp farming
    Iran says shrimp farming has grown in size nearly four times over the past years.

    Speaking in an international fisheries and aquaculture exhibition on Tehran, Khunmirzaei said it had become a policy of the Iranian government to encourage consumption of seafood and white meat to reduce an annual import of 150,000 tons of red meat into the country.

    He said Iran had made a good progress in trout farming, saying the country was currently the number one producer of rainbow trout in the world.

    Khunmirzaei said production of caviar and shrimp had also experienced a boom over the past years,

    He said Iran was currently third in the world in sturgeon farming and processing, adding that production of shrimp in aqua farms south and north of the country was on rise despite diseases that had affected output in the previous years.
    https://www.presstv.com/Detail/2019/10/21/609226/Iran-fisheries-seafood-production-surge-official
     
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  3. SubWater

    SubWater SENIOR MEMBER

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  4. mohd497

    mohd497 FULL MEMBER

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    Sanctions are blessing in disguise. Now when everything is made in China and local factories and manufacturing are shutting down a little ban on import do wonders
     
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  5. SubWater

    SubWater SENIOR MEMBER

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    Iran meat production up in second quarter, down year-on-year
    Sat Nov 2, 2019 06:09PM [Updated: Sat Nov 2, 2019 06:15PM ]
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    Iran says meat output increased over the summer although figures are 22 percent lower than 2018.


    Iran’s meat production has increased in the second quarter of its calendar year by around 13 percent although output figures shows 22-percent reduction compared to the summer of 2018.

    The Statistical Center of Iran (SCI) said in a report on Saturday that the total red meat output recorded across the country between June 22 and September 22, 2019 stood at 77,000 tons (nearly 85,000 American tons).

    It said beef accounted for more than half of the total production, over 43,000 tons, while lamb and mutton output reached 25,000 and 6,000 tons respectively.

    The province of Tehran, where the capital city is located, produced the highest amount of beef with more than 7,000 tons in the three-month period, said the SCI, adding that the highest output for lamb was recorded in the northeastern province of Khorassan Razavi which is home to Mashhad, the second largest city and the center of Iran’s religious tourism.

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    PressTV-Mega dairy factory to cut Iran’s massive butter imports
    Iran is opening its largest dairy processing plant as it eyes a full cut to massive butter imports.

    Khuzestan, home to Iran’s Arab population in the southwest, topped the list of buffalo meat producers while the desert province of Sistan and Baluchestan, in the southeast, came first in camel output.

    Iran is among the leading consumers of red meat in the Middle East region with lamb being the most sought after.

    However, the consumption per person is around a third of what is normally seen in countries like the US and Australia, mainly due to the prohibition of pork in the Islamic law.

    Around 10 percent of the domestic demand is responded to with imports from countries like Brazil, where Iranian supervisors directly control culling methods to ensure they complies with religious rules.

    https://www.presstv.com/Detail/2019/11/02/610221/Iran-meat-production-statistics-report
     
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  6. Aramagedon

    Aramagedon SENIOR MEMBER

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    http://fna.ir/dd6c3u
    Sun Nov 10, 2019 4:53


    Iran to Open Largest Aluminum Mill in Upcoming Weeks

    aluminium-1024x576.jpg

    TEHRAN (FNA)- The largest aluminum smelter in Iran, known as SALCO, will be partially opened in the upcoming weeks with an annual rate of 300,000 tons of aluminum output in prospect for the 1st phase of the giant project.

    The first phase of the SALCO is to be opened in the upcoming weeks as authorities seek to compensate for the losses suffered over the past decades in the domestic production of the primary metal.

    A new report released on Saturday recounted that SALCO, located in the city of Lamerd in the Southern tip of the Fars province and near the Persian Gulf, will reach 300,000 tons of aluminum output in its first phase of production.

    The smelter, one of the largest in the Middle East, creates 1,200 direct jobs and is planned to produce one million tons annually when it reaches full capacity, said the report.

    Five Iranian banks have provided finances of more than $1 billion for the first phase of the project where China Non-ferrous Metal Industry's Foreign Engineering and Construction Co. (NFC) has also been contributing.

    The project has been funded by the IMIDRO, Iran’s largest holding in mining and metals sector, and Ghadir Investment Company, where Iran’s Social Security Organization and pension funds related to the armed forces are the main shareholders.

    Iran has lagged behind in the production of aluminum compared to other metals. However, vast sources of energy can help the country compensate for the losses suffered over the years as fuel account for more than 25 percent of the cost of aluminum production.

    Iran seeks to increase annual output of aluminum to more than 800,000 tons by March 2022 while more than $11 billion will be attracted in investment to bring the figure to 1.5 million tons by 2025.

    Production at three major smelters in Iran, namely Iranian Aluminum Company (IRALCO), the Hormozal Aluminum and Almahdi Co. totaled 103,593 tons between late March and late August 2019.

    Late in May, it was announced that two giant Iranian aluminum companies had produced more than 20,000 tons of ingots in the first month of the local calendar year (March 21-April 21).

    Production of aluminum ingots in IRALCO and Almahdi Aluminum Corporation exceeded 20,400 tons in the time period.

    According to statistics, IRALCO accounted for about 75 percent of the country’s total aluminum production volume.

    Early in March, Iranian First Vice-President Eshaq Jahangiri underlined Washington's failure in sanctions against Iran's metal industries.

    "The US was after metal sanctions against Iran but it failed to trouble the country's industries," Jahangiri said, addressing a ceremony in the Northeastern city of Semnan on March 09.
     
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  7. SubWater

    SubWater SENIOR MEMBER

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    Iran expanding saffron cultivation area by 5,000 hectares a year: Official
    Sun Nov 10, 2019 07:16PM [Updated: Sun Nov 10, 2019 07:26PM ]
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    This photo published on October 5, 2019 shows the hand of a farmer holding a saffron flower in the air after picking it from a farm in Chaharmahal Bakhtiari region, in central Iran.


    A senior official at Iran’s agriculture ministry says the country is increasing its cultivation area for saffron by 5,000 hectares a year as global demand for the Iranian red gold keeps surging.

    Ali Tahmasebi, a deputy to Iran’s minister of agriculture, told the state TV on Saturday that planting saffron was no longer restricted to the three Khorasan provinces located in eastern Iran, adding that cultivation area for saffron had exceeded 115,000 hectares, nearly 20 times more than the land dedicated to the crop in the entire world.

    Images published in the Iranian media over the past days showed farmers picking saffron flowers in various parts of the country, including in Chaharmahal, a cold and mountainous region in central Iran, as well as in Khuzestan, a southern province known for its hot and humid climate.

    That comes against the backdrop of reports suggesting Iran is not properly benefitting from a lucrative international business of saffron mainly because of bulk production methods and increased smuggling to neighboring countries.

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    ‘Smuggling taking its toll on Iran saffron exports’
    Iran saffron exports have decreased by 15 percent due to smuggling and government restrictions.

    Officials say two thirds of Iran’s annual production of saffron, around 300 tons, go to the bulk sale, while others suggest around 20 tons are being smuggled outside the country and mainly to the neighboring Afghanistan.

    Sources within the industry say smuggling to Afghanistan has increased mainly because traditional customers of the Iranian saffron, like Spanish companies, seek to avoid direct imports due to the American sanctions imposed on the country.

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    Iran exported a total of 280 tons of saffron in the year ending in March 2019, generating 351 million in income, according to the data provided by the ministry of agriculture.

    Experts believe Iran could have a much higher share of the international trade of saffron if more work is dome on branding and marketing of the product inside the country.

    https://www.presstv.com/Detail/2019/11/10/610891/Iran-saffron-cultivation-exports-farming
     
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  8. SubWater

    SubWater SENIOR MEMBER

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    Iran ships 100 tons of table eggs each day amid oversupply
    Mon Nov 11, 2019 05:46PM [Updated: Mon Nov 11, 2019 05:52PM ]
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    File photo shows table eggs in traditional Iranian pack of 30 in a poultry unit in Golestan province, in northeastern Iran.


    Iran is exporting around 100 tons of table eggs amid an oversupply that has forced the government to ease restrictions on exports.

    Head of Iran’s main poultry cooperative said on Monday that a government decision earlier last month to allow farmers ship their eggs to neighboring countries, especially to Iraq, helped ease an oversupply that had depressed the prices for nearly eight months.

    Reza Torkashvand said Iran’s exports of table eggs since the start of the current Iranian calendar year in late March totaled 19,000 tons, saying daily exports had reached 100 tons per day in recent weeks.

    Torkashvand said the boom in exports was helping farmers pay for the losses suffered since April when the government imposed a ban on exports and set a fixed price for domestic sale of table eggs.

    He said rising exports would not affect the domestic supply, insisting that only 10 percent of the production, around 2,500 tons a day, was available for exports.

    However, he said demand for Iranian egg was increasing in other countries and farmers were looking to resume exports to customers who used to import from Iran before the ban was imposed eight months ago.

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    PressTV-Iran slaps 40% tariff on chicken exports
    Iran imposes nearly 40 percent of tariff on chicken exports to control domestic prices.

    The comments came as media reports on Monday suggested local egg prices had soared to over 250,000 rials for a pack of 30 large white eggs.

    That comes as Torkashvand insisted that price should be 100,000 rials for each kilograms of table eggs, or 18,000-20,000 for a pack of 30.

    Iran’s decision to lift the ban on exports of eggs comes as the country still maintain harsh tariff of 40 percent for exports of chicken.

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  9. SubWater

    SubWater SENIOR MEMBER

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    News / Economy
    Iran keep exporting tomato to Pakistan amid historic price surge
    Thursday, 21 November 2019 7:33 PM [ Last Update: Thursday, 21 November 2019 7:39 PM ]

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    Iran is exporting tomato at $1.1 for each kilogram to Pakistan where prices have surged to over $2.5.
    Iran is continuing to supply neighboring Pakistan with loads of fresh tomato as prices in the country keep soaring to a point where a bride prefers to wear jewelry made of the crop.

    An agri-food official in Tehran said on Thursday that Iranian tomato was being shipped to Pakistan at a price of $1.1 for each kilogram.

    Seyyed Reza Nourani would not elaborate on the amount of tomato exported to Pakistan over the past two weeks although the Pakistani Dawn newspaper said that more than 400 tons of Iranian tomato had arrived in Karachi, a main port city south of the country, only in the past few days.

    The report said Pakistani importers had secured a fresh permission to bring in 15,500 tons of Iranian tomato to help further lower the prices in the market.

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    Iran agriculture minister urges removal of tariffs on chicken export
    Iran’s agriculture minister says a harsh tariff imposed on export of chicken in August should be removed.

    The $1.1 price announced by Nourani comes as reports in the media showed that price of each kilogram of tomato in Karachi had reached an all-time high of 400 Pakistani rupees (Rs), more than $2.5, on Tuesday.

    That even prompted a Pakistani bride to wear jewelry made of tomato on her special day. The video of the bride had gone viral on the social media.

    [​IMG]
    Naila Inayat नायला इनायत

    ✔@nailainayat



    Tomato jewellery. In case you thought you've seen everything in life..


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    2,874

    1:37 PM - Nov 18, 2019
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    There was an acute oversupply of tomato in Iran more than a month ago, prompting many farmers to sell the crop at exorbitantly low prices.

    That prompted a revival of an old Iranian tradition of extracting tomato juice at many houses.

    However, increased exports to Pakistan have again caused a surge in price of tomato in Iran with reports showing it is currently around $1 for each kilogram, up from $0.1 in October.

    Nourani said an unusual bout of cold weather in Iran which had forced an early harvest of tomato was a main reason for massive exports to Pakistan
    https://www.presstv.com/Detail/2019/11/21/611806/Iran-tomato-exports-Pakistan-prices
     
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  10. SubWater

    SubWater SENIOR MEMBER

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    Iran seeks double income from exports to neighbors next year
    Monday, 25 November 2019 3:07 PM [ Last Update: Monday, 25 November 2019 3:37 PM ]

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    Head of Iran’s Plan and Budget Organization Mohammad Bagher Nobakht
    Iranian government officials say revenues generated from exports of various products excluding crude would double in the next Iranian calendar year beginning in late March.

    A senior deputy to President Hassan Rouhani said on Monday that non-oil exports to 15 neighboring and near countries should reach $48 billion next year.

    Mohammad Bagher Nobakht said hitting the target was necessary given Iran’s urgent need to new foreign currency revenues as normal crude sale have been affected by American sanctions.

    Nobakht, who head Iran’s Plan and Budget Organization, said that Iran had been effectively deprived of around $50 billion a year in oil sales income, adding that non-oil exports should compensate for that loss.

    “Based on the targets set, we (have to) bring the non-oil exports to $48 billion from the $24-billion that we currently have,” he said, adding that setting the target had been agreed earlier in the day in a meeting involving high-profile government officials.

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    Iran says trade deficit for two quarters stood at $273mn
    Iran’s trade deficit in two first quarters of its calendar year stood at $273 million.

    Iran has been under a series of US sanctions since last year when Washington unilaterally withdrew from an international agreement on Tehran’s nuclear program.

    The sanctions have specifically targeted the sale of oil as the United States seeks to force Iran to change its position on key foreign policy and security issues.

    Authorities in Tehran admit that sanctions have affected Iran’s exports although they insist the bans have caused a boom in other sectors of the economy.

    Bulk of Iran’s non-oil exports, especially those shipped to 15 neighboring and near countries, consists of petrochemical products derived from oil.

    The new target set for exports mainly relies on a massive expansion of Iran’s petrochemical sector over the past few years. Authorities said in September that petchem exports would increase nine-fold to reach $93 billion in 2025.

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    News / Economy / Editor's Choice
    Oil sales to account for %7 of Iran’s revenues next year
    Tuesday, 26 November 2019 6:10 PM [ Last Update: Tuesday, 26 November 2019 6:41 PM ]

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    File photo shows a view to the headquarters of Iran's Plan and Budget Organization.
    Iran’s oil sale, once a staple of the country’s yearly budgets, would account for a tiny portion of government's projected revenues in the next Persian calendar year beginning in late March.

    Head of Iran's Plan and Budget Organization (PBO) Mohammad Bagher Nobakht said on Tuesday the government eyes to generate $10-12 billion from direct sale of oil next year.

    That would mean that just over seven percent of Iran’s $155-billion budget would be dependent on crude exports compared to nearly $50 billion pocketed annually from oil sales over the past few years.

    Reports on Tuesday suggested, however, that the government projections for oil exports, as stipulated in a bill that would be submitted to the parliament next month, could exceed $15 billion.

    A study of the main terms of the budget bill by the Fars news agency showed that the total oil sale projections for next year was a maximum of 870,000 barrels per day at a fixed price of $50 per barrel.

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    Iran seeks double income from exports to neighbors next year
    Iran says revenues from non-oil exports to neighbors would double next year.

    The report said meager share of oil exports in next year’s budget showed that the government no longer relies on crude as a major source of revenue and instead uses oil income as a backup for covering a potential budget deficit.

    Experts believe Iran’s next year budget would be the least-dependent on oil in the history of the country as the government grapples with the impacts of American sanctions on its direct sale of oil.

    The budget bill that will go the parliament on December 6, 2019, includes spending and revenues for both the government and a total of 382 state-run companies.

    The Fars news agency said that government revenues, which form the base for spending and expenditures, would amount to 4,200 trillion rials ($35 billion), including taxation and oil exports.

    Government companies are also expected to generate a total of 14,400 trillion rials ($120 billion), of which around a fourth will go to construction projects and creating jobs, according to PBO’s Nobakht, who serves as a senior deputy to Iranian President Hassan Rouhani.

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    Iranian banks balance sheet grew by %27.4 to hit $188bn in August: CBI
    Iran’s CBI says banks’ balance sheet stood at over $188bn in late August, a surge of %27.4 year-on-year.

    Nobakht said on Tuesday that the government will pay nearly $5.5 billion in direct cash handouts next year, adding that the total subsidies granted to the households would top $15.5 billion.

    He had said on Monday that exports of various products excluding crude would hit a value target of $48 billion next year to compensate for the losses created in direct oil sales.



     
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  11. SubWater

    SubWater SENIOR MEMBER

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  12. SubWater

    SubWater SENIOR MEMBER

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    Iran’s natural gas processing capacity hits 328.5 bcm: Official
    Sunday, 15 December 2019 5:39 PM [ Last Update: Sunday, 15 December 2019 7:32 PM ]

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    An Iranian energy official says capacity for processing natural gas has already topped 328.5 bcm a year.


    A senior Iranian oil Ministry official says the total capacity for processing natural gas in the country has reached 900 million cubic meters a day, or 328.5 billion cubic meters (bcm) a year.

    Masoud Zardouyan said on Sunday that gas refineries in Iran had undergone major renovation and restructuring programs until September this year allowing them to be ready for processing enough natural gas needed for the cold winter months.

    “The promise to increase gas processing capacity to 900 million cubic meters per day has been realized,” said Zardouyan, who serves as coordinating and supervising manager at the National Iranian Gas Company.

    The official said bulk of the natural gas that reaches refineries in Iran is processed for household consumption purposes and the rest goes to the production of refined products, including the liquefied natural gas (LNG) which has a high demand outside of Iran and in neighboring countries.

    The announcement on increased natural gas processing capacity in Iran comes amid massive government plans to increase gas output to levels near 1 bcm per day.

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    Iran to outperform Qatar in gas production from joint field: Minister
    Iran’s oil minister says gas production from a joint field with Qatar is increasing exponentially.

    Trailing Russia, Iran sits on the second largest gas reserves in the world while it ranks third internationally in terms of daily output.

    That has come mainly thanks to development plans at South Pars, the world’s largest gas field which is shared with neighboring Qatar in the Persian Gulf.

    The expansion of the South Pars has continued over the past years despite a raft of US sanctions imposed on Iran’s oil and gas industry.

    Those sanctions even forced the French energy giant Total to withdraw from a major agreement to develop the gas field last year.

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    News / Energy
    Germany’s Siemens helping Iran launch 5 GW of modern power plants
    Saturday, 14 December 2019 6:25 PM [ Last Update: Saturday, 14 December 2019 6:57 PM ]

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    This photo published on the website of Iran’s Mapna group shows an F-class gas turbines jointly built by the group and Germany’s Siemens after installation at Hengam power plant in southern Iran.


    Germany’s engineering giant Siemens is backing Iran in plans to launch power plants relying on modern gas turbines that would add some 5 gigawatts (GW) to the country’s electricity generation capacity.

    A senior official at Iran’s Ministry of Energy said on Saturday that Siemens and Iran’s largest energy construction and engineering group Mapna had been cooperating on building F-class gas turbines that would significantly boost efficiency at Iranian power plants.

    Alireza Nasrollahi said Siemens and Mapna were working on F-class turbines in eight major locations across Iran, a project he said was worth around €2.2 billion.

    Nasrollahi said a major batch of the turbines will come on line at Iran’s Hengam power plant, located in the southern province of Hormozgan, in February.

    He said the launch of the first phase of Hengam power plant, a gas-fired unit with a capacity of 307 megawatts (MW), will mark the first time a government-run power plant in Iran is using F-class gas turbines.

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    Iran, Iraq to renew electricity deal next month: Minister
    Iran’s energy minister says the deal to export power to neighboring Iraq will be renewed next month.

    The official said the installation of all the turbines in the combined cycle 906-MW Hengam, where a second gas-fired unit will come on line before next summer, would cost around €500 million.

    Siemens has been one of the longest-serving foreign companies in Iran with first activities dating back to more than 150 years ago.

    The company, which has been a major contributor to Iran’s infrastructure projects over the past decades, was forced to downsize many of its projects in Iran after the United States imposed a series of unilateral sanctions on the country last year.

    However, Iranian officials have hailed Siemens’ commitment to joint venture schemes, including contracts on the transfer of technology, saying it is a sign the company is valuing its long history of presence in the country and shows that the Germans are keen to resume work in Iran once sanctions are lifted.
     
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  13. LittleFish

    LittleFish FULL MEMBER

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    Iran is abundant of resources and intelligent people, I have no doubt Iran can be self-sufficient.
    I just wonder what the daily value of Iranian oil export is under such sanction, and to whom? Trade still counts.
     
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  14. SubWater

    SubWater SENIOR MEMBER

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    Iran stops meat imports amid oversupply
    Monday, 13 January 2020 4:35 PM [ Last Update: Tuesday, 14 January 2020 12:18 PM ]

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    Iranian authorities impose a temporary ban on meat imports amid an acute oversupply.


    Authorities have imposed a temporary ban on imports of meat into Iran as the country faces an acute oversupply despite a growing wave of smuggling into neighboring countries.

    Iran’s caretaker agriculture minister Abbas Keshavarz said on Monday that red meat imports had been halted, at least for the time being, adding that a surging domestic output and piling inventories of imported meat would suffice the needs of the country in the upcoming months.

    “Strategic inventories have reached an acceptable level and it seems that there is currently no need for meat imports,” said Keshavarz.

    The announcement comes a month after reports suggested Iran had halted meat imports from Kazakhstan, a main supplier for the past year.

    Officials said at the time that the halt was mainly due to quarantine and health issues and was not related to the oversupply in Iran.

    However, head of Iran’s association of livestock farmers said on Monday that annual output of red meat had reached nearly 900,000 tons, adding that the country had imported hundreds of thousands of tons of more meat over the past months.

    Said Soltani said that Iran had allowed much more imports than its quota of 10 percent of the domestic consumption, saying continued imports would badly hurt the farmers.

    [​IMG]
    Iran meat production up in second quarter, down year-on-year
    Iran says meat output increased over the summer although figures are 22 percent lower than 2018.

    He said Iran was facing an oversupply of red meat despite the fact that smuggling into neighboring countries like Afghanistan and Iraq had continued unabated in recent months.

    The sudden surge in meat output in Iran comes as the country produced less than 200,000 tons in the first six months of the current calendar year between March and September 2019.

    Beef still accounts for the bulk of the red meat produced in Iran, more than 50 percent, followed by lamb and mutton, according to the official government statistics published in November.

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    News / Energy
    Iran ahead of many industrial nations on power grid reliability: Spokesman
    Tuesday, 14 January 2020 2:36 PM [ Last Update: Tuesday, 14 January 2020 7:38 PM ]

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    Iran says its electricity grid has outperformed leading countries of the world in terms of reliability.


    Iran’s energy ministry says the electricity network in the country has become one of the best in the world in terms of reliability by avoiding any blackout for the past 16 years.

    A ministry spokesman said on Tuesday that the performance of the electricity system in Iran was now much better than that of the United States and at least 12 major European countries and several others.

    Mostafa Rajabi said avoiding blackouts over a long period of time was a sign that Iran’s electricity sector had significantly improved its reliability over the years consistent with plans to increase output and to diversify generation sources.

    He said around 3,250 megawatts (MW) of new generation capacity had been launched across the country since March 2019 on top of extensive repair works carried out in power plants with 100,000 MW of production capacity.

    He said electricity transmission network in Iran had expanded by 1,600 kilometers while capacity for power transformers had increased by 10,000 mega-volt ampere (MVA) over the same period.

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    Germany’s Siemens helping Iran launch 5 GW of modern power plants
    Germany’s Siemens is helping Iran launch power plants relying on F-class gas turbines.

    The official said the energy ministry had managed to pay around $1 billion to private contractors for debt settlements despite strained government finances that have come as a result of the American sanctions.

    Iran has a massive power industry with hundreds of power plants, many of them of the efficient combined cycle type, providing reliable and affordable electricity to households and industries across the country.

    Iran has also become a main electricity exporter to countries of the region in recent years as actual production has exceeded 300 terawatt hours (TWh) which corresponds to less than a half of the current installed capacity in the Iranian power plants.

    The industry has major plans for switching to renewables as experts believe a current one-percent share of the total output from solar and wind farms and other sources does not match Iran’s potentials in the sector.
     
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  15. SubWater

    SubWater SENIOR MEMBER

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    News / Economy
    Trades at Iran’s TSE bourse hits all-time high as main index nears 410k
    Saturday, 18 January 2020 5:34 PM [ Last Update: Saturday, 18 January 2020 7:25 PM ]

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    File photo shows a view to the trading floor at the Tehran Stock Exchange (TSE).


    The value and size of trade at the main Iranian stock market has reached levels described by experts as truly unbelievable.

    Saturday reports in the Iranian media showed that the main index in the Tehran Stock Exchange (TSE) had hit an all time high of 409,962.25 points, an increase of 2.63% or 10,517 points for TEDPIX compared to the previous day of trade.

    That came as TSE’s price index, known as TEPIX, also rose 3.28% to hit 126,014 points.

    Total value of shares in the TSE reached 14,908.299 trillion rials (over $110 billion), said the reports, adding that trades in the first day of the Iranian week reached a total of 692,893 times for 9.266 billion shares worth of 39.855 trillion rial (nearly $300 million).

    The boom in trade comes as more Iranian households tend to view shares as a safe way of protecting their savings against fluctuations in the market.

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    Iran central banks begins implementing OMO to regulate capital flow
    Iran’s central bank begins implementing open market operation policy for first time in country’s history.

    The government has also played a role in the surge by selling bonds known as sukuk which are seen by many as a form of high-yield investment.

    Experts have described the surge as surprising given the current economic situation in Iran and the fact that the country is under a harsh regime of sanctions imposed by the United States.

    TEDPIX, the main index at the TSE, was hovering around 90,000 points in 2015, when Iran was relieved of a previous round of international sanctions which had been imposed over its nuclear program.

    Also on Saturday, the Central Bank of Iran (CBI) launched its first round of trades for bonds under its newly initiated open market operation (OMO) policies.

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    Iran stock exchange market reports historic record for main index
    The stock exchange market based in the Iranian capital has reported a historic high for its main index.

    Reports said the purchase by CBI of bonds offered by major banks and financial institutions began earlier in the day at Fara Bourse (IFB), a small-cap market, where the total index increased 165 points to reach 5,276 on Saturday.

    The total value of trade at IFB also hit 30,133 trillion rials (over $223 million), said the reports.