Economic news in brief (June 17)

June 18, 2006 - 0:0
New shipping line to connect Basra with Khorramshahr

TEHRAN – A new shipping line will connect the southern Iranian port of Khorramshahr with the Iraqi port of Basra as soon as security is guaranteed in the war-torn Iraq.

Many Iranians, most of them pilgrims, are now traveling to Iraq via Shalamcheh, which is a township near Khorramshahr. A yacht, named ‘Aaj’ (Persian word for ivory) is being built in Khorramshahr as part of preparation plans, which also include providing cut-rate tickets for poor people who want to travel on Aaj. A Khorramshahr-based shipping company, which has negotiated with Iraqi ports and shipping officials over the establishment of the new shipping line, plans to set up another line between Khorramshahr and the Kuwait Bay.

Ramin Power Plant back into operation

AHVAZ, Khuzestan Prov. – Technical failure in two units of the Ramin Power Plant, which could cause temporary blackouts in some parts of the city of Ahvaz and its suburbs, was detected early Saturday and the process of power production and transmission was expected to be back to normal in 10 hours.

The technical faults at the Third Unit of the plant were all fixed immediately and the unit was back into circuit at 2 p.m. In the Fifth Unit, all operations were halted due to some deficiencies that cut the connection with the main circuit. This unit was also expected to restart work late on Saturday night. Khuzestan has very hot and humid summers, so there is always a possibility of power failure here.

Iran exports $13.5m of cut flowers to Afghanistan in 8 months

TEHRAN – According to the Iran Customs Administration, some 13.5 million dollars of fresh cut flowers has been exported to Afghanistan in the past eight months.

“However, Khorasan had no share in the exports despite being a neighbor to Afghanistan,” head of the Agricultural Jihad Department in the Khorasan Razavi Province told ISNA on Saturday. Esmail-Nia then put the annual production of cut flowers in the Khorasan region, consisting of three provinces of Khorasan Razavi, North Khorasan, and South Khorasan, at 6.8 million. “Local floristry will only be developed through financial support from the government,” he said, pointing to bank loans as the most immediate need of the Khorasani florists.

Rice comprises 30% of Thai exports to Iran: Thai official

TEHRAN – “In 2006, we will export $440m of Thai-made products to Iran of which rice will comprise $100m,” Napadol Thongnee, Counselor for Commercial Affairs at the Thai Embassy in Tehran said. He pointed to the fact that the 60,000-80,000 Iranian tourists who visit Thailand every year have been good marketers for a variety of Thai-made products in their country. Thongnee also said that plans are underway to increase sugar production in Thailand, adding “We intend to put sugar at the second place in our list of exports to Iran.”

The U.S., Japan, and the ASEAN member states are the main target markets for the Thai-made goods, he stated, pointing to Iran, South Africa, and Latin American countries as new markets for Thailand.