Iraq defaults on $1 billion debt to Iran

Iraq has an outstanding debt of $1 billion to Iran related to the purchase of electricity and the two neighbors are discussing mechanisms to have it settled, an Iranian deputy energy minister says.

Iran Shows Interest in Cooperation with Japan

TEHRAN (FNA)- Head of the Atomic Energy Organization of Iran (AEOI) Ali Akbar Salehi announced Tehrans willingness to cooperate with Japan in building small nuclear power plants.

MP: Petchem Development can Generate Jobs

TEHRAN (FNA)- A member of the Iranian parliament said expansion of the petrochemical industry can boost employment in the country by bringing in modern technologies.

Iran OKs joint bank with Russia

Iran has approved a proposal by Russia to establish a bank for investments in joint economic projects, a deputy co-chair of the Russian-Iranian intergovernmental commission said on Wednesday.

Iran associated gas gets $1 billion FLNG offer

Foreign companies are weighing $800 million-$1 billion of investment in floating production of LNG from associated gas at Iran’s offshore fields in the Persian Gulf, a senior energy official says.

Germans clinch Iran’s biggest solar projects

Iran’s Ministry of Energy has signed an agreement with a German company to build 1,250 megawatts of solar energy projects in the hydrocarbon-rich country’s latest move to green its energy supply chain.

Iran firms ditch Chinese for Europeans

Iran’s petrochemical manufacturers are turning to the Europeans to get finance for new projects, ditching Chinese investors who are charging high commissions and fees.

Official: Iran to tender 15 mining projects

Iran will tender 15 mining projects for development within the next four months, rolling out its massive sector for international investment, Deputy Minister of Industry, Mines and Trade Mehdi Karbasian says.

‘Iran keen on boosting India trade ties’

The media in New Delhi say Iran has made it clear to India, Turkey and China that it wants to cooperate with them in seven key sectors including mining, petrochemicals and food.

Iran plans $25 billion rail investment splurge

Iran has chalked up a plan for $25 billion of investment to modernize and expand its rail network, Managing Director of the Islamic Republic of Iran Railways Mohsen Poursaeed-Aqaei says.

Banks eyeing Iran’s water, power plans

Iran’s media reported on Monday that European and Asian banks are looking into the prospects for investing in Iran’s water and electricity development projects.