Iran Economy - News & Updates

[R2D2]

MAFTA

Multilateral Agreement for a Free Trade Alliance

I propose formation of an economic block MAFTA composed of Pakistan, China, Afghanistan, Russia, Iran, Turkey, Bangla Desh, Sudan, Saudi Arabia, UAE, CARs, Brazil, Indonesia, Malaysia, Venezuella, Japan, Cuba, Bolivia, Ireland, Brunei Dar as Salam and Palestinian Authority for free trade without or reduced customs duties.

A MAFTA secretariat should be formed in Istanbul or Kuala Lumpur to coordinate all the activites.

Pakistan and Afghanistan in particular can benefit from adaptation of the advanced technologies from brotherly countries. An example is the recent Metro Bus project in various cities of Punjab with the help of Turkey.

Malaysia and Indonesia are rich in Palm oil and can meet the needs of member countries. Malaysia is also ahead in technology.

Pakistan is a big exporter of Textile and Leather goods.

Brazil is an important member of BRICS group and the biggest exporter in south America.

Saudi Arabia, Iran and Venezuela are major exporters of crude oil. Russia is also a big exporter of gas and can supply Pakistan through its purchased gas from Turkmenistan.

Japan is the technological giant of the East and is already helping Pakistan in various projects.

Cuba is known for its independent policy and is the leading voice of the leftist world and will help us in gaining more space and allies diplomatically. The Cuban doctors performed selflessly during the 2005 earthquake in Pakistan.

Republic of Ireland is known for its independent foreign policy on the European mainland as opposed to Britain which is always toeing the American line.

Iran has patched up its differences with America and is emerging on world stage as a mature power.

Turkey is leading the Muslim world in moderate thought, technology, foreign investment and outreach.

 

[Muslimdaughter]

Iran is also planning three refineries for domestic production:

 

[Gilamard]

Iran embarks on major solar energy drive | euronews, science

 

[Afghan-India]

MAFTA

Multilateral Agreement for a Free Trade Alliance

I propose formation of an economic block MAFTA composed of Pakistan, China, Afghanistan, Russia, Iran, Turkey, Bangla Desh, Sudan, Saudi Arabia, UAE, CARs, Brazil, Indonesia, Malaysia, Venezuella, Japan, Cuba, Bolivia, Ireland, Brunei Dar as Salam and Palestinian Authority for free trade without or reduced customs duties.

A MAFTA secretariat should be formed in Istanbul or Kuala Lumpur to coordinate all the activites.

Pakistan and Afghanistan in particular can benefit from adaptation of the advanced technologies from brotherly countries. An example is the recent Metro Bus project in various cities of Punjab with the help of Turkey.

Malaysia and Indonesia are rich in Palm oil and can meet the needs of member countries. Malaysia is also ahead in technology.

Pakistan is a big exporter of Textile and Leather goods.

Brazil is an important member of BRICS group and the biggest exporter in south America.

Saudi Arabia, Iran and Venezuela are major exporters of crude oil. Russia is also a big exporter of gas and can supply Pakistan through its purchased gas from Turkmenistan.

Japan is the technological giant of the East and is already helping Pakistan in various projects.

Cuba is known for its independent policy and is the leading voice of the leftist world and will help us in gaining more space and allies diplomatically. The Cuban doctors performed selflessly during the 2005 earthquake in Pakistan.

Republic of Ireland is known for its independent foreign policy on the European mainland as opposed to Britain which is always toeing the American line.

Iran has patched up its differences with America and is emerging on world stage as a mature power.

Turkey is leading the Muslim world in moderate thought, technology, foreign investment and outreach.

Actually we already got the ECO, our version of the EU. But things are not working well.

 

[tonyget]

Entrepreneurs Seek Bridge to Iran | EE Times


BERKELEY, Calif. — Iran has the engineers and universities to spawn a Silicon Valley in the Middle East, but US sanctions combined with the country's own shortcomings hold back its potential.

That was the conclusion from a conference of more than 500 Iranian high-tech executives and entrepreneurs here. Participants in the Bridge 2014 event said they hope to overcome the hurdles, believing prosperity is the best antidote for a long and painful history of political conflict.

“What is needed is funding universities and advanced R&D to transfer technology in the schools to practical applications,” said Maryam Rofougaran, a senior vice president of engineering at Broadcom, who told the story of her rise from a small town in Iran.





Born in the “beautiful but conservative city” of Isfahan where “career choices for women were quite limited,” she pursued her dreams initially through education. “Form early on, my clear passion and strongest subjects were math and physics,” she said.

Rofougaran became the first woman to conduct research in one of the engineering labs at UCLA. For her Master’s thesis, she developed the first 900 MHz power amp in CMOS. She worked with her brother to create a full CMOS transceiver and formed a startup based on the design that Broadcom bought in 2000.

“Today I am responsible for developing and shipping more than 2 billion wireless chips a year,” she said.

Iran is probably not fertile soil for chip design startups today, she said, responding to an audience question. “We think [innovation] will be through universities at first, given issues with politics, and I would not suggest [chip design] as a startup right way, it would be easier to focus on software.”

In another keynote, Mahmoud Nazzari, founder and chairman of Iran’s largest software company, Systems Group, outlined challenges for high-tech companies in the country. Iran lacks a strong patent system or a robust set of competitors and loses much of its top talent to other countries.

And there are the sanctions.

“I don’t know how they work on other industries," he said, "but in IT, they are killing us. We cannot officially buy software licenses or get service. We cannot go beyond our borders even in the region, so we cannot cooperate. We have many friends, but we don’t know when we can start real business transactions with them.”

Even travel is difficult. The US requires background checks that can take six months for people traveling from Iran, even if they passed a check for a recent prior trip, he told EE Times.




Iran's top tech challenges are its under-developed ecosystem including immature capital markets, a brain drain, and sanctions, said Mahmoud Nazzari, founder of the country's largest software company.


Iran’s government invests about $500 million a year in startups, a drop in the bucket compared to the $30 billion a year spent by venture capitalists in the US, said Hamed Ghoddusi, an assistant professor of finance at Stevens Institute of Technology in Hoboken, N.J.

The country lacks a robust community of VCs, and angel investors are practically non-existent, he said. Also missing are the legal underpinning that supports private equity and venture capital investments as well as a specialized and efficient bankruptcy court.

A quarter of Iran’s college students are in engineering, and Systems Group signed on to an international treaty on intellectual property. Nevertheless patent applications are low, mainly because the country lacks an effective patent system, said Robert Babayi, managing partner of Vector IP Law Group, noting Iran has a patchwork quilt of 26 different patent examination authorities

Perhaps the biggest missing ingredient is the culture of Silicon Valley that rewards entrepreneurs and tolerates failure, said Pejman Nozad, who runs a $50 million venture capital firm in Palo Alto, Calif.

Despite the challenges, the conference gave some signs of progress. For example the Maps incubator in Iran is now home to two startups employing about 20 engineers. Over the past two years, the Iran Startups group has held educational events in several cities around the country.

Many attendees here expressed hope for a future event in Iran and more exchanges between the two countries.

“Some of us had a enough success -- we don’t need to make another million dollars,” said Saeed Amidi, chief executive of the Plug and Play Tech Center, an incubator in Silicon Valley. “If can make a difference in another entrepreneur’s life, that gives real meaning.”

 

[rmi5]

Iran private sector debt to banking system hits $169 billion
23 NOVEMBER 2014
Tehran , Iran , Nov. 21

By Milad Fashtami - Trend:

Iran’s private sector debt to banking system has reached 5,410 trillion rials (some $169 billion based on the exchange rate of US dollar at the free market).

The figure shows a 7-percent increase compared to previous year, Iran’s ISNA News Agency reported on Nov. 21.

The private sector’s debt to the banking system was around 5,050 trillion rials (some $157.8 billion) at the last month of previous year (ended March 20).

The Iranian government also owes over $28 billion to the national banking system, which is 36 percent more compared to the last month of the past Iranian year (ended on March 20, 2014).

Based on the Central Bank of Iran’s data, the government’s debt to the banking system amounted to $28 billion in the first half of the current year.

The USD free market exchange rate is currently about 32,000 rials in Iran.

Iran’s economy minister Ali Tayyebnia said on Aug. 19 that the administration will set up a special legal commission to deal with bank loan defaulters.

Tayyebnia said on June 18 that the real value of the Iranian banking system’s bad loans is $47 billion.
Iran private sector debt to banking system hits $169 billion

 

[Arminkh]

Iran Exits Recession With 4% Growth in Six Months, Rouhani Says - Bloomberg


Iran Exits Recession With 4% Growth in Six Months, Rouhani Says
By Ladane Nasseri Dec 24, 2014 4:00 AM PT

Photographer: Ali Mohammadi/Bloomberg
The International Monetary Fund expects Iran's economy to expand 1.5 percent in 2014.

Iran’s economy expanded 4 percent in the six months from March 21, President Hassan Rouhani said today, in a return to growth following two years of recession.

In the 16 months since it came to power, the government has also “curtailed inflation from 40 percent down to 17” percent, Rouhani said in a speech in the eastern city of Birjand, according to the Iranian Students News Agency. “Economic revival has begun.”

Efforts to secure a deal with world powers over the Islamic Republic’s nuclear program have won Iran some relief from economic sanctions, though talks on a permanent deal have been extended until July amid major differences. A 45-percent plunge in the price of crude this year threatens to slash oil revenues that account for the bulk of government spending.

Rouhani today blamed “plots” by nations he didn’t name for driving down the price of crude. Oil “won’t remain at this level,” he said. “Our future is bright.”

The government, which based its current budget on the assumption oil would sell for $100 a barrel, is basing its spending plan for the next financial year on an average of $72. Brent crude was trading at $60.71 at 2:05 p.m. in Dubai.

The International Monetary Fund expects Iran’s economy to expand 1.5 percent in 2014 after shrinking 5.6 percent and 1.7 percent in the previous two years respectively, according to estimates in April, before crude’s slide. The IMF predicted growth of 2.2 percent in 2015.

 

[Arminkh]

Turkey urges Iran to trade in local currencies | Turkey | Worldbulletin News

Local currency trade would eliminate trade barriers between the two countries and help manage difficulties in banking.
World Bulletin/News Desk

Turkey and Iran should conduct trade in their local currencies to eliminate economic barriers and avoid difficulties in banking transactions, Economy Minister of Turkey Nihat Zeybekci said on Wednesdday.

“In order to eliminate trade barriers between the two countries and to tackle current difficulties in bilateral banking transactions, Turkey and Iran have to trade in their local currencies,” Zeybekci said.

Trade volume between the two countries is now declining, after peaking at $22 billon dollars in 2012. Zeybekci said that the recently signed trade agreement should intercept this gradual decline in trade volume.

“Now we should put an end to this slide. We signed the preferential trade agreement, which has a historical importance for both countries, at the beginning of the year. As of Thursday, the preferential trade agreement between two countries will come into force,” Zeybekci said.

The transit fee for trucks has lately become a sticking point between Turkey and Iran. Zeybekci said that he expect this problem to be solved during the visit of Iranian Minister of Communications and Information Technology, Mahmoud Vaizi in January.

“Both countries know by heart that we should not waste time with this kind of topic,” Zeybekci said.

When Iran hiked its rates for Turkish trucks crossing the border, Turkey retaliated with increasing transit fees for Iranian trucks.

On Dec. 1, Iran started sealing the fuel tanks of Turkish trucks at border checkpoints. Fuel prices are much lower in Iran than in Turkey because of state subsidies.

Iran ceased the practice once discussions began to negotiate transit fees.

 

[IRAN 1802]

South Khorasan, a paradise for foreign investors


As one of the country's wealthiest provinces, South Khorasan seemingly possess favorable potentials to become one of the country's economic hubs.

In an exclusive interview with Iran Daily, Gholam-Hossein Ebrahimi, who has served as Iran's political attaché in the Kingdom of Jordan and the first secretary of the Iranian Embassy in Poland and Lithuania, touches upon the province's advantages for foreign investors, some of its problems, tourist attractions and development priorities.

Ebrahimi, who has also been in charge of the political desks of Tunisia, Malaysia and Indonesia at the Ministry of Foreign Affairs, elaborates on the aims of the Foreign Ministry in setting up an office in the province.

The full text of the interview follows:

IRAN DAILY: What do you think is the Foreign Ministry's aim in establishing an office in Birjand (South Khorasan province)?

GHOLAM-HOSSEIN EBRAHIMI: The main goals are to internationalize the province's activities, improve the work culture among local officials to prepare them for international activities, increase the province's dynamism to accelerate the country's growth and development, bolster border transactions with Afghanistan and attract foreign investments.



What are the main activities and responsibilities of the Foreign Ministry's provincial offices?

They mainly focus on consular activities to resolve people's problems, do away with the need to travel to Tehran for these purposes. The activities include validating the documents of university students who intend to continue their studies abroad, process trade and medical documents and issue or extend visas for foreign residents in the provinces from which international flights operate such as Khorasan Razavi or Isfahan. The offices are also responsible for increasing the province's international economic activities by dispatching or receiving trade delegations or helping domestic companies take part in international exhibitions.



What are the province's economic advantages for other countries?

I can list five main advantages. The first one is that 38 minerals are extracted in the province which makes the country rank eighth in the world in this respect.

The province's second advantage pertains to its abundant production of high-quality agricultural and horticultural products including saffron, barberries, jujube, saffron, cotton, pomegranate and medical herbs.

The third is related to the province's deserts which have unique characteristics. For instance, Heydar-Abad desert in Nahbandan has the world's highest sand dunes, some of which are 480 meters high. Moreover, the night sky of the Se-Qaleh desert provides tourists with an opportunity to view stars for astrological purposes. Hemmat-Abad desert is another example of a great biodiversity. Other deserts of the province with potentials and qualities for tourist attraction are Deh-Salam, Boshrooyeh and Tabas.

Other popular attractions of South Khorasan are: Ferdows Jame' Mosque, Ferdows Theological School, Nehbandan Citadel, Forg Fortress, Kolah Farangi Mansion in Birjand, Chahar-Derakht Mosque, Amirabad Garden, Behgard Garden, Chenshat cave, Birjand Jame' Mosque, Imamzadeh Musa al-Kadhim, Alam Palace and Deragon Cave in Sarayan.

The fourth advantage of the province is its educated human resources. There are six main universities and 14 educational centers in the province that accommodate 42,000 students in the province, which is considered the eastern scientific hub of the country.

The fifth pertains to its high security. South Khorasan is among the country's top three provinces in this respect.



What incentives or facilities does the province offer to foreign investors? Can you list some of its infrastructures?

Perhaps, the province's main incentive for foreign investors is its strategic location since it lies along the country's east transit route linking Sarakhs to Chabahar. It also has four active border markets on the joint borders with Afghanistan turning it into Iran's main export gateway to Kabul and border provinces of Herat and Farah.

In the year to March 20, 2014, South Khorasan exported $700 million worth of products to Afghanistan accounting for about one-third of Iran's total exports to that country in the same period which amounted to $2.4 billion.

In addition, Birjand Special Economic Zone provides foreign investors with favorable facilities on the country's border strip and in the proximity of Birjand. Currently, investment opportunities in the province pertain to textiles, handicrafts, construction materials, agricultural and horticultural products and medical herbs as well as packaging foodstuff, developing small industries and processing minerals.

Foreign investors can also invest in the provinces tourist attractions such as deserts and unique hot mineral springs including Lut and Ferdows which are used for hydrotherapy in the province.



In view of President Rouhani's upcoming trip to the province, what would be the priorities to come up for discussion?

Despite all the natural wealth the province has, it is one of the country's poorest and less developed regions. Therefore, its priorities are mainly economic including improving employment, supporting small workshops, developing industries with low water consumption and those related to processing minerals or producing horticultural and agricultural produces, widening the main highway in the east of the country, launching the province's railroad project, enabling the province to offer incentives to foreign investors, improving tourist infrastructures, installing equipments for Birjand Special Economic Zone and even establishing new free zones, completing the province's gas pipelines network, financing hygiene and health projects and completing construction of Mahiroud border road.

South Khorasan, a paradise for foreign investors

 

[Arminkh]

Here is an interesting article. Iran soon will surpass united states in cement production and become world's third producer. The rest of the propaganda in the article should be taken with a grain of salt

Iran a force in cement industry | TheHill

Iran is cementing its control over the Middle East and broader continent. Literally. A production capacity of 70 million tons of cement per year makes Iran the fourth largest manufacturer in the world and the largest in the Middle East. With the fastest cement industry growth rate on the planet, Iran will soon surpass the United States, currently the third largest producer.

The economic forces of supply and demand cannot fully explain Iran’s dominant position in the cement industry. It just so happens that the country is funding an insurgency in the world’s top cement importer, Iraq. For over a decade, the Quds Force, a special unit of the Iranian Revolutionary Guard, has trained and equipped Iraqi-Shia militias.

Iran is simultaneously contributing to Iraq’s destruction and its (re)construction. According to an official at the Iran-Iraq Joint Chamber, Iran currently supplies about half of Iraq’s total cement consumption. The underlying message that Iran is sending through its cement industry is ‘what war destroys, we rebuild.'

It has tried to send this message in the Gaza Strip, too. Gaza’s dire construction needs (a shortage of 75,000 housing units before this past summer’s war) has made it a prime target for Iranian cement. In March 2014, Israeli naval commandos intercepted a Panamanian-flagged ship, likely Sinai-bound, carrying 100 containers of Iranian cement. Twenty of these containers also concealed various forms of ammunition, including surface-to-surface rockets. The containers originated from the southern Iranian port of Bandar Abbas.

Cement is both a lucrative economic and political opportunity for Iran. Parts of its cement industry are possibly government fronts masquerading as private companies. The Social Security Fund, an Iranian government institution, happens to be the main shareholder in Fars & Khuzestan Cement Company (FKCC), the country’s largest cement producer. In 2008, the British government listed a subsidiary of FKCC as an entity of potential concern for WMD-related procurement.

The Iranian cement industry’s political agenda predates the “Arab Spring.” In 2000, Iranian Minister of Industry, Gholam Redha Shafeay, announced plans to build a $200 million cement factory in Syria. Today, as the emerging third largest producer of cement, Iran is in a strong position to help President Bashar al-Assad rebuild Syria – a country where well over one-third of all homes have been destroyed.

Iran may also be cementing its influence over Syria from neighboring Lebanon. Last year, the pan-Arab Asharq al-Awsat newspaper reported that Hezbollah founded a new cement company in Lebanon with Iranian financing. This harkens back to Iran’s involvement in the reconstruction of Iraq after the 2003 U.S.-led invasion and of Lebanon after the 2006 Israel-Hezbollah war. Iran’s cement exports to Lebanon went from zero the year of the war to 13 million tons in 2013.

Iran exports cement to around 24 countries. The main importers of its cement are Iraq (63 percent), Turkmenistan (7 percent), and Azerbaijan (4 percent). Lately, Afghanistan has also become a larger purchaser. And this has Pakistani manufacturers worried.

Aizaz Mansoor Sheikh, chairman of the All Pakistan Cement Manufacturers Association, blames U.S. sanctions for surplus Iranian capacity. The availability of cheaper Iranian cement threatens Pakistani manufacturers in Iraq and Afghanistan. Iranian cement is reaching Balochistan, a province in Pakistan’s southwest, through informal channels and is priced lower than locally-produced cement. Pakistani exports to Afghanistan have since declined by 10 percent.

Iran’s agenda may go beyond pricing Pakistani manufacturers out of the market. Balochistan, Iran’s target market, is home to around 650,000 Hazara. This Shia Muslim group has ties to 1 million Iranian Hazara, who have increasing reason to worry about their Pakistani brethren. Sunni militant group attacks against the Hazara in Balochistan have steadily risen. Since 2013, targeted violence has claimed the lives of hundreds of Hazara. Two of the most deadly bombings, which took place in January and February 2013, left at least 180 dead in the provincial capital of Quetta.

The cement industry is one example of how Iran’s dealings in global markets are not only economically, but also politically, motivated. The country’s cement industry thrives in Iraq, a country with a destabilizing Shia insurgency and the world's number one cement importer. Cement also provides Iran a foothold for military support to Assad in Syria and Hamas in Gaza.

Iran is cementing its position in its neighborhood’s political and economic landscape, and Western sanctions have not been able to stop it.

 

[Abii]

Here is an interesting article. Iran soon will surpass united states in cement production and become world's third producer. The rest of the propaganda in the article should be taken with a grain of salt

Iran a force in cement industry | TheHill

Iran is cementing its control over the Middle East and broader continent. Literally. A production capacity of 70 million tons of cement per year makes Iran the fourth largest manufacturer in the world and the largest in the Middle East. With the fastest cement industry growth rate on the planet, Iran will soon surpass the United States, currently the third largest producer.

The economic forces of supply and demand cannot fully explain Iran’s dominant position in the cement industry. It just so happens that the country is funding an insurgency in the world’s top cement importer, Iraq. For over a decade, the Quds Force, a special unit of the Iranian Revolutionary Guard, has trained and equipped Iraqi-Shia militias.

Iran is simultaneously contributing to Iraq’s destruction and its (re)construction. According to an official at the Iran-Iraq Joint Chamber, Iran currently supplies about half of Iraq’s total cement consumption. The underlying message that Iran is sending through its cement industry is ‘what war destroys, we rebuild.'

It has tried to send this message in the Gaza Strip, too. Gaza’s dire construction needs (a shortage of 75,000 housing units before this past summer’s war) has made it a prime target for Iranian cement. In March 2014, Israeli naval commandos intercepted a Panamanian-flagged ship, likely Sinai-bound, carrying 100 containers of Iranian cement. Twenty of these containers also concealed various forms of ammunition, including surface-to-surface rockets. The containers originated from the southern Iranian port of Bandar Abbas.

Cement is both a lucrative economic and political opportunity for Iran. Parts of its cement industry are possibly government fronts masquerading as private companies. The Social Security Fund, an Iranian government institution, happens to be the main shareholder in Fars & Khuzestan Cement Company (FKCC), the country’s largest cement producer. In 2008, the British government listed a subsidiary of FKCC as an entity of potential concern for WMD-related procurement.

The Iranian cement industry’s political agenda predates the “Arab Spring.” In 2000, Iranian Minister of Industry, Gholam Redha Shafeay, announced plans to build a $200 million cement factory in Syria. Today, as the emerging third largest producer of cement, Iran is in a strong position to help President Bashar al-Assad rebuild Syria – a country where well over one-third of all homes have been destroyed.

Iran may also be cementing its influence over Syria from neighboring Lebanon. Last year, the pan-Arab Asharq al-Awsat newspaper reported that Hezbollah founded a new cement company in Lebanon with Iranian financing. This harkens back to Iran’s involvement in the reconstruction of Iraq after the 2003 U.S.-led invasion and of Lebanon after the 2006 Israel-Hezbollah war. Iran’s cement exports to Lebanon went from zero the year of the war to 13 million tons in 2013.

Iran exports cement to around 24 countries. The main importers of its cement are Iraq (63 percent), Turkmenistan (7 percent), and Azerbaijan (4 percent). Lately, Afghanistan has also become a larger purchaser. And this has Pakistani manufacturers worried.

Aizaz Mansoor Sheikh, chairman of the All Pakistan Cement Manufacturers Association, blames U.S. sanctions for surplus Iranian capacity. The availability of cheaper Iranian cement threatens Pakistani manufacturers in Iraq and Afghanistan. Iranian cement is reaching Balochistan, a province in Pakistan’s southwest, through informal channels and is priced lower than locally-produced cement. Pakistani exports to Afghanistan have since declined by 10 percent.

Iran’s agenda may go beyond pricing Pakistani manufacturers out of the market. Balochistan, Iran’s target market, is home to around 650,000 Hazara. This Shia Muslim group has ties to 1 million Iranian Hazara, who have increasing reason to worry about their Pakistani brethren. Sunni militant group attacks against the Hazara in Balochistan have steadily risen. Since 2013, targeted violence has claimed the lives of hundreds of Hazara. Two of the most deadly bombings, which took place in January and February 2013, left at least 180 dead in the provincial capital of Quetta.

The cement industry is one example of how Iran’s dealings in global markets are not only economically, but also politically, motivated. The country’s cement industry thrives in Iraq, a country with a destabilizing Shia insurgency and the world's number one cement importer. Cement also provides Iran a foothold for military support to Assad in Syria and Hamas in Gaza.

Iran is cementing its position in its neighborhood’s political and economic landscape, and Western sanctions have not been able to stop it.

In North America, most buildings under 6 floors are wood construction with a concrete base. All homes are also wood construction with dry wall panels. Skyscrapers are of course concrete and steel, but the vast majority of construction is wood. So this isn't surprising. In Iran everything is made of cement, concrete and "ajor." All of Iran's neighbors are the same so there's a big market for cement and concrete.

These days there are talks of carbon fiber skyscrapers. At this point we're ways off of that, but that's something to think about.

 

[Arminkh]

In North America, most buildings under 6 floors are wood construction with a concrete base. All homes are also wood construction with dry wall panels. Skyscrapers are of course concrete and steel, but the vast majority of construction is wood. So this isn't surprising. In Iran everything is made of cement, concrete and "ajor." All of Iran's neighbors are the same so there's a big market for cement and concrete.

These days there are talks of carbon fiber skyscrapers. At this point we're ways off of that, but that's something to think about.

Not really, because US cement consumption at its peak was 128 million tons in 2005 and then it decreased because of the recession and residential market crisis. Currently it is at around 83 million tons while the construction industry is not out of the recession yet. So even at its current state it is consuming more than what Iran is producing. And it can always export any excess to Canada and developing countries in central and south America.

They don't use cement for their single family houses, and most of the below 6 level residential but they use concrete in areas that we don't like city side walks. In Canada, there is a huge tendency towards using concrete structure for high rises as it is cheaper while in Iran steel structure is as popular as concrete structure. "Ajor" is not made with cement by the way, it is made of clay. See below:

Carbon fiber will be used (actually is used) as a tensile member just like what steel bars inside the concrete do. So it will not substitute concrete, it will be used to reinforce it. The advantage is you can achieve higher compression strength with smaller cross section for concrete columns using carbon fiber. So you end up with more space inside the building and lighter structure.

Carbon fiber is currently being used in Iran for retrofit to bridges and concrete buildings that do not meet new seismic code.

 

[Arminkh]

Amazing! This monster can store whole Iran's daily petroleum production!


Iran inaugurates world largest oil tanker | Hellenic Shipping News Worldwide

Iran inaugurates world largest oil tanker
in International Shipping News 03/02/2015

Iran has started operation by the world’s largest oil tanker with a capacity of 2.2 million barrels of crude oil in the Persian Gulf.

In a time of plunging oil prices in world markets, Iran’s inauguration of its floating oil terminal would help reduce costs of production, transportation, unloading, and exports of crude oil; with oil prices sinking down even below $50 per barrel, analysts say countries who have reduced their costs of production and exports of oil to the lowest possible figures would be the real winners of current oil markets.

Aptly called ‘Persian Gulf,’ Iran’s FSU oil terminal is the country’s newest trump card as world’s largest oil tanker in highly shaky oil prices. The oil tanker enjoys the capacity to store 2.2 million barrels of oil. This giant tanker has started operation in west of Persian Gulf in Behregan region, with a major mission to store and directly export oil of nearby massive oil fields such as Nowrouz and Soroush; the tanker has attracted a lump sum of $300 million as investment.

Saied Hafezi, the directing manager of Offshore Oil Company, a subsidiary of NIOC, pointed to operation of the giant tanker Persian Gulf, saying that “loading of oil produced in Nowrouz and Soroush oil fields into the newly inaugurated giant tanker has been started, and currently, a daily load of 70,000 barrels of crude is transferred into the tanker.”

Hafezi also pointed to operation of Sorena, the company’s smaller oil tanker; “Sorena will continue its operation and any decision to phase out the tanker remains in the authority of the NIOC board of directors,” he added.

Persian Gulf floating oil terminal is equipped with the most advanced metering technology. The tanker enjoys the cutting-edge technology in terms of machinery and capacity.
Source: Mehr News

 

[Jamaal Yelmaaz]

Iran private sector debt to banking system hits $169 billion
23 NOVEMBER 2014
Tehran , Iran , Nov. 21

By Milad Fashtami - Trend:

is this news really correct or a bulshit??
im not an expert of iran but i would say im a semi economist and know some things about iran.....
Iran private sector has not large scale of assets and production capacity...so to me, 169 Billions-$ too high for private sector of Iran if it is really correct....

 

[Arminkh]

is this news really correct or a bulshit??
im not an expert of iran but i would say im a semi economist and know some things about iran.....
Iran private sector has not large scale of assets and production capacity...so to me, 169 Billions-$ too high for private sector of Iran if it is really correct....

Iran's GDP is $389 billions so it is a big number compared to that. However, the meaning of private sector in Iran is a bit different from the rest of the world. There are many Government owned companies that became public and their equity were purchased by other big companies that may still be Government owned but are still called private. For example, Iran Khodro that is the biggest car manufacturer in the middle east is considered a private company by the same sense. Melat Bank which is a big Bank is another example. There are several Petrochemical companies as well.

So if you add those into the equation, the above number is not that strange.