South Korea President Park Geun-hye’s visited Iran in May 2016 to open doors wider for Korean companies. The two countries agreed on 66 MOUs for 30 projects, which could be valued as much as USD 5.2 Billion.
Also in Oil exploration, Gholamreza Manouchehri, deputy CEO of National Iranian Oil Company (NIOC), said the agreements were signed with Japan’s Inpex, China’s CNPC, and France’s Total.
Despite heavy traffic of foreign companies coming to Iran for negotiation with Iranian companies or public sector managers, real investment volume which has been started practically is relatively very little.
Main companies in the news:
AIRBUS: European multi-national (France, Germany, UK, etc.) company, Airbus, signed a MoU last year during President Rouhani visit to France to sell 118 Airbus planes during next years.
CONDOTTE D’ACQUA: an Italian infrastructure company which declared to invest about 4 billion Euro in Iran’s infrastructure
DANIELI: Italian steel manufacturer announced a decision to establish a joint venture company named Persian metallics whose values amounts to USD 5.7 billion.
HELLENIC PETROLEUM: a Greek petroleum company which was one of the great customers of Iran’s oil before sanctions and announced it will resume its daily purchase from Iran.
NORINCO INTERNATIONAL: a Chinese company which announced partnership in a railway project with USD 350 Million Value.
PEUGEOT CITROEN: French Car manufacturer which went out of Iran’s market due to sanctions wants to restart its partnership with Iranian car companies in a 50-50 partnership and also invest in R&D in auto industry with a value of 400 million Euro.
SINOSTEEL: a Chinese steel manufacturer which signed a USD 570 million contract with an Iranian company to establish a steel production factory.
Also some companies signed MoUs with Iranian partners. Some of them are:
ALSTOM: French multinational company signed a MoU to invest in Electric Transmission Lines.
AUDI: German Car manufacturer aims to export luxury cars to Iran’s market.
COMMERZBANK: the second lender bank in Germany which aims to enter Iran’s market again after suffering US treasury punishments because of sanctions.
EXIM BANK of China: Exim Bank and Iran inked an MoU aiming at providing the conditions for financing economic and infrastructural projects and expanding bilateral cooperation The MoU includes roads, ports, transportation, plant, telecommunications, industrial parks, oil and gas, healthcare sector, agriculture and tourism plans.
DAIMLER: German heavy cars manufacturer Daimler had some negotiations with domestic Heavy Truck makers to produce trucks in partnership with Iranian companies.
INTERNATIONAL AIRLINES GROUP: owner of British Airways which had successful negotiations to return to Iranian travel market.
LUKOIL: Russian Oil Company which wants to attend oil extraction projects.
OMV: Austrian Oil Company announced its interest to invest in oil and gas upstream projects, they want to invest in Cheshmeh Khosh Oil field in west of Iran.
NATIONAL ALUMINIUM CO: Indian metal company which aims at USD 2 billion investment to establish a foundry factory in Iran.
POSCO: Multinational steel-making company based in Korea announced MoA with Iranian steel maker PKP to purchase USD 1.6 Billion shares of the project.
SAMWOO E&C: Korean Company who signed a MoA to construct a petroleum refining facility with the value of 5 billion euro, also signed MOA with Shams Omran Construction and Engineering Company, agreeing to cooperate on high speed railways and expressway projects, worth USD 4 billion (€3.6 billion).
OTICOM CORP: Korean IT and Telecom Company entered into MOA for the supply of Korean Digital Broadcasting Conversion Systems to Iran with TAKTA, affiliated Electronic factory of National Iran broadcasting company.
SAIPEM: Italian company which signed MoA to redesign the project of refinery and petroleum companies.
SCHLUMBERGER: the Dutch public oilfield services company which sold NIDC Co, and its branch in Iran following the sanctions, and aims to negotiate about taking control of NIDC again.
TURKCELL: Turkish Telecommunication Company had some negotiations with Iranian Telecom Companies.
ITALTEL: Italian Telecommunications Company in Network Functions Virtualization (NFV), has entered into a Memorandum of Understanding (MoU) with Telecommunication Company of Iran (TCI) to develop and modernize TCI’s telecom network.
Other Italian Companies: ANSALDO ENERGIA (Power Engineering), FINCANTIERI (Ship Building), ITINERA (infrastructure), TI SPARKLE (Telecom), FERROVIE DELLO STATO (Railway).
UK Export Finance (UKEF): UKEF and Iran’s Ministry of Energy signed a cooperation agreement over financing Iranian water and energy projects.
According to reports published by Ministry of Industry, Mine &Trade, in the first 4 months of current Iranian Calendar (21th March-21July) totally 17 investment licenses with USD 1.01 Billion value are issued by this ministry. While last year there were 36 projects with USD 1.7 Billion value.
FAR Law Firm