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Foreign, Domestic Investors Can Participate In Isfahan-Tehran
Rail Project
2004 May 25
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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.
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Beam Production Increased by 18.7% Past Year
2004 May 20
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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.
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Iran, China sign contract on 4th Tehran metro line
2004 May 18
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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.
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Steel Price Fall in Iranian Market
2004 May 17
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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.
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Lorestan steel plant project receives 185-million-dollar fund
2004 May 16
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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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