Hyundai Heavy Industries Co. (HHI) received two deals valued at a combined $1.3 billion (1.52 trillion won) at once at the end of the year. Out of $1.3 billion (1.52 trillion won), it clinched a $700 million (821.1 billion won) order from Iran that marks the Middle Eastern country’s first ship order since international sanctions…
According to a contract signed with Islamic Republic of Iran Shipping Line (IRISL), South Korea’s Hyundai Heavy Industries Company, Ltd. (HHI) will build mega-container vessels as well as tankers for carrying petroleum products for Iran, IRNA reported on Friday. The contracts were the first of their kinds that Iran has signed after the removal of…
Hyundai Heavy Industries Co., a major shipyard in South Korea, looks set to clinch a deal with Iran to supply 10 ships. Under the expected contract, valued at $650 million, with the Islamic Republic of Iran Shipping Lines (IRISL), Hyundai will build four 14,400 TEU container ships and six 50,000 DWT product tankers, TradeWins, a…
Iran’s petrochemical industry was privatized more than a decade ago. Today, the government is only paving the ground for the development of petrochemical sector. During years of international sanctions on Iran, the government was of great help to the private sector in its transactions. The signature of a historic nuclear deal between Iran and six…
Minister of Petroleum Bijan Zanganeh said on Tuesday that Iranian oil industry needs $130 billion investment to meet the Sixth Five-Year Economic Development Plan (2016-21) targets. Zanganeh told a televised interview, “We use different methods for financing and there is not the possibility for attraction of all the needed capital through contracts.” On the contract…
South Korea’s imports of oil from Iran more than doubled in the first nine months of this year from a year earlier following the removal of international sanctions on the country in January, industry data showed on Sunday. According to the data, imports of Iranian crude oil and condensates reached 78 million barrels during January-September…
Group A leader Iran got the better of South Korea 1-nil at Tehran’s Azadi Stadium on Tuesday evening as part of 2018 FIFA World Cup Russia Asian Qualifiers. Carlos Queiroz’s boys entertained second-placed South Korea today in group A of the 2018 FIFA World Cup Russia Asian Qualifiers Final Round and pulled out a convincing…
Head of Iran’s Trade Promotion Organization and CEO of South Korean Trade-Investment Promotion Agency (KOTRA) have agreed to establish Tehran and Seoul joint trade desk. Mojtaba Khosrotaj and Kim Jaehong, president and CEO of KOTRA met in Seoul on Saturday to address possibilities of preparing a framework for joint cooperation of Iranian and South Korean…
Fresh indications show a main barrier for trade between Iran and South Korea will be removed soon. South Korea announced on Thursday that it will start a euro-based settlement system for trade with Iran next week. The move follows the removal of sanctions against Iran in January and is expected to help the two countries…
