Search Result for : Tehran

The Dollar Business Bureau Despite India’s offer to spend around $11 billion (about Rs.70,000 crore) for the development of Farzad B gas field in Iran and building the infrastructure for exporting the gas, Tehran had stated that it is under ‘no obligation’ for awarding the contract for the gas field to India, according to media reports.  New Delhi is willing to invest as long as Iran assures a “reasonable return” on the gas project. India’s state-run oil company ONGC Videsh Ltd has given the offer for investing around $6 billion in the Farzad-B gas field project and the remaining amount to spend in building a facility for liquefied natural gas (LNG) exports.  On the contrary, Iran has signed an agreement with Russian gas ...

The Dollar Business Bureau  China’s EXIM bank has signed a $1.5 bn worth of contract to finance the electrification of nearly 1000 km of high-speed track between Tehran and Iran’s second largest city Mashhad.  This deal is a part of China’s One Belt One Road (OBOR) initiative aimed at building the infrastructure needed to connect Beijing with Western Europe, Russia, Middle East and other regions in the initiative.  Though initially the deal was reported to be more than $2 billion, both the parties have not clarified why the funding has decreased.  The Teheran-Mashhad railway electrification project is a part of the wider set of projects that Iran needs to modernise its infrastructure.  In a briefing to the media, the Iranian Deputy Transport minister, Asghar ...

The Dollar Business Bureau The Apparel Export Promotion Council (AEPC), India’s largest export promotion council, signed a memorandum of understanding (MoU) with the Tehran Garment Union (TGU) on Monday, to promote bilateral trade and industrial cooperation in the textile and fashion sectors between the two countries. The MoU was signed at the 57th edition of India International Garment Fair (IIGF) 2016, which is being held from July 18-20, in Pragati Maidan, New Delhi. Ashok G Rajani, Chairman, AEPC and Mohamad Javad Sedghamiz, Vice President, TGU signed the MoU on behalf of Indian and Iranian bodies, respectively. Rajani said that AEPC and TGU would make efforts to promote bilateral trade and industrial cooperation in the textile and fashion sectors, include sharing experiences and knowledge, cooperate to provide ...

The Dollar Business Bureau With an aim to improving the bilateral trade, Sushma Swaraj organized a delegation level talk with Javed Zarif, her counterpart from Iran. Presently, Swaraj is on a two-day visit to Tehran. The Ministry of External Affairs (MEA) Spokesperson Vikas Swarup tweeted, “A conference of civilizations. EAM @SushmaSwaraj and FM @JZarif hold delegation level talks on India Iran relations.” Swaraj started the engagement in Tehran by visiting a Gurudwara and a community school. “The Gurudwara, established in 1941, and the Indian school cater to the needs of the vibrant community in Tehran,” he said “Returning an important call. After FM @JZarif’s visit to Delhi last year, he receives EAM at the Foreign Ministry,” Vikas said in a series of tweets. Swaraj assured the ...

Source: PTI Ruling out any 'emergency or urgency' in getting back $6.5 billion oil import dues from India, Iran today proposed that a part of this corpus can be invested in Indian projects there -- assuaging concerns that an immediate payment outgo might hit India's forex reserves. Hopeful that a "settlement" can be reached on how to clear these dues, Iran has also proposed delegation-level visits and discussions to iron out the issues in this regard. The assurance by Iranian Ambassador to India, Gholamreza Ansari, assumes significance as there were concerns that India might have to make immediate payments to clear these dues after lifting of the Western sanctions on Iran. The dues have been pending largely because of curbs on ...