Solar Frams, Pharmaceuticals, Bank branches & Air Traffic
Hamedan hosts Iran’s largest solar farm
14 Megawatt solar power plant has been inaugurated in Hamedan Province this week. Other 21 Megawatt power plants are under construction. This way one of the most ancient provinces of Iran will have the largest solar farm in the country.
The two new 7 MW power plants, Khalij-e Fars and Amir Kabir, are set near Hamedan, each on a 10-hectare plot and were built in 6 months with a total investment of €16m. The plants are mainly built using imported materials and domestic production still remains very much behind.
Read more about Hamedan Solar Farms
Barekat Group will create a pharmaceutical special zone
95% of the medicine used in Iran is produced domestically and only 5% is imported. However, pricewise, this 5% imported medicine makes 40% of the market value.
To balance this, Iran is looking for long-term partnership with world’s leading pharmaceutical manufacturers, to produce some of the brand medicine locally.
Barekat Pharmaceutical Group who owns 12% of market-share in Iran, says that in its industrial town, already two foreign companies have bought lands: Novo Nordisk from Denmark and Vitabiotics from U.K.
Read More about Pharmaceutical Special Zone in Iran
Sarmayeh Bank opens branches abroad
To reach the goal of opening branches abroad in 2017, Sarmayeh Bank tries to clear its debts as soon as possible. Its CEO, Mohammadreza Khani, says the bank plans to open new branches in the UAE, Oman, Russia, Italy and the Czech Republic.
Sarmayeh Bank has significantly improved its position among the Iranian banks: from being the bank with most debts, now it has no debt to the Central Bank of Iran.
However, Sarmayeh Bank expects to clear its delayed loans: the total debt owed to the bank is 80 trillion IRR ($2.4b). So far only 2% have been collected.
Read more about Sarmayeh Bank Debtors
Earning from the Sky: Iran’s airspace traffic increase
As Iran’s airspace traffic increases, the country seeks investment to upgrade its aviation controlling systems. in recent years, due to the conflicts in the region many airliners try to avoid the sky of neighboring countries. Iran offers a safe sky and therefore her air traffic has experienced 70% growth, says the Iran Airports Company (IAC).
But in the lack of proper recourse management, IAC says that all the Iranian airports are running at a loss, the only exception is Imam Khomeini International Airport.
Read more about Iranian Airports’ Situation
© Iran Economy in Brief by Dr. Mahya Karbalaii, 09.02.2017