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Foreign, Domestic Investors Can Participate In Isfahan-Tehran Rail Project
2004 May 25

The general director of Iran railroads announced that the establishment of Tehran-Isfahan express railroad is one of the major projects currently under way in railroad network of the country and that foreign and domestic investors can participate and invest in this project. Welcoming the participation of German investors in this project, he said that the 400-kilometer Isfahan-Tehran railroad is being constructed for express trains with the average speed of 250 kilometers per hour. Mohammad Sa’idnejad explained the ways to meet the credit necessary for this plan and said that finance and direct turnover of investment are among the approaches, which are being sought to acquire the necessary investment. He added that more than 28 million tons of commodities and 16.3 million passengers were handled by country’s rail network in the past Iranian year 1382 (March 20, 2003-March 19, 2004), showing 14% growth in comparison with Iranian calendar year 1381.

Beam Production Increased by 18.7% Past Year
2004 May 20

The electronics and steel industry office of the Mines and Industry Ministry announced on Wednesday that the volume of beam production surpassed 1.925 million tons in Iranian calendar year 1382 (March 20, 2003- March 19, 2004) showing an 18.7% increase in comparison with the corresponding period in Iranian calendar year 1381. The report adds that during the past Iranian year, the iron rod production capacity of the country hit 2.452 million tons and hot-rolled iron sheet production capacity increased to 2.7 million tons, showing 11.1 and 6.6% growth respectively. Also, cold-rolled sheet reached 612,000 tons while cathode copper production was 150,000 tons up 6.1 and 2% respectively in the corresponding period, the report said.

Iran, China sign contract on 4th Tehran metro line
2004 May 18

  Iran and China signed a contract for the construction of the fourth Tehran metroline in a ceremony which was attended by Tehran Mayor Mahmoud Ahmadinejad, head of Tehran City Council, managing director of Tehran Metro Co and Chinese ambassador to Tehran. Managing director of Tehran Metro Co and managing director of the Chinese NORINCO (China North Industries Corp.) inked the contract as the employer and contractor respectively. The Chinese NORINCO was announced as winner of the international tender for the project after financial and technical specifications of the submitted bids were examined. The Chinese corporation had earlier supplied the fixed and movable equipment of Tehran-Karaj-Mehrshahr metro line as a contractor. According to the inked contract, the contractor is committed to cover all the expenses of the construction of the specified route, the stations as well as fixed and movable equipment through long-term financial funds. "The project should be implemented and handed over four and a half years after opening the related letter of credit and implementing the contract in two phases," added the contract. Meanwhile, in accordance with the signed document and memorandum of understanding, a least 51% of the value of project should be provided domestically on behalf of Iranian constructors and contractors consortium. Besides the contract envisages the supply of 160 metro wagons. The 21-km fourth Tehran metro line with 22 stations will originate at Ekbatan township in western Tehran and will terminate in Kolahdouz Square in the east of the city. On the sidelines of signing a contract on the fourth metro line, Tehran mayor called for inking another contract for the third metro line latest by the end of summer.

Steel Price Fall in Iranian Market
2004 May 17

  Due to the decrease in the value of steel in international markets, prices of steel has plummeted 15 to 20 percent in domestic markets. In an interview, the head of the Steel Producers Council said that all the northern harbors have stockpiles of imported steel, the high volume leading to a reduction in the price of steel in Iran. Pointing to the objectives of the Third and Fourth Five-Year Development Plans for steel industry, Naqi Bahrami said that if tariffs were not imposed on steel imports, steel industry objectives in the five-year development plans would not be achieved. Stressing proper control on steel imports, he said that in order to hit the 12.5 and 20 million ton steel production objectives of the Third and Fourth Development Plans respectively, further protection and support of the domestic steel industry is necessary.

Lorestan steel plant project receives 185-million-dollar fund
2004 May 16

President Mohammad Khatami here Saturday referred to Lorestan Province as Iran's heart from geographical, social, cultural and historical points of view. Speaking at a gathering of thousands of citizens of the city of Azna at Takhti Stadium, he added that since Lorestan is a crossing point connecting north to south and east to west, it is actually the heart of the country. The president hoped to witness major industrial developments in the province in view of the special economic zone centered in Lorestan, export of stone from the area and the prospect of building a steel plant near Azna. "The board of trustees of Iran's hard currency deposit account has approved to extend a 185-million-dollar fund to Lorestan steel plant project expected to produce annually two million tons of steel," concluded President Khatami. Top on his agenda in this one-day visit is the inauguration of construction operations on the Kamandan dam and Azna steel mill.
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