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Iran, New Zealand FMs urge enhanced economic relations

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The foreign ministers of Iran and New Zealand on Sunday emphasized the importance of expanding bilateral relations, particularly in the economic sector.

Iranian Foreign Minister Mohammad Javad Zarif, who had arrived in New Zealand a day earlier on the fifth leg of his Asia-Pacific tour, held a meeting with his New Zealand counterpart Murray McCully in Wellington, Press TV reported.

Zarif said Tehran is ready to take major steps to expand ties with Wellington in all fields, while McCully, for his part, said Iran plays a leading role in finding ways to settle regional issues.

In another meeting with Iranian nationals residing in New Zealand on Sunday, Zarif called on the nationals to make use of opportunities created after the removal of sanctions against the country.

Zarif said it was actually the Iranian people who made the sanctions fail, adding, "Resistance and wisdom of the nation proved that no Iranian individual should be threatened."

On February 19, New Zealand lifted its sanctions against Iran following the implementation of Tehran's nuclear agreement with world powers, dubbed the Joint Comprehensive Plan of Action (JCPOA).

On January 16, Iran and the P5+1 group of countries – the United States, France, Britain, Russia and China plus Germany – started to implement the JCPOA which was reached between the two sides on July 14, 2015, following two-and-a-half years of intensive talks.

After the JCPOA went into effect, all nuclear-related sanctions imposed on Iran by the European Union, the Security Council and the US were lifted. Iran, in return, has put some limitations on its nuclear activities.

 

 

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Official: Iran can export $10b of electricity

Category: News

Iran has the capacity to export worth $10 billion electricity per year in short term, Chairman of Iran Electrical Industry Syndicate Alireza Kolahi said.

In the long run, the country can materialize the export of worth $30 billion electric power a year, he added, Shana news agency reported on Friday.

He called for an investment of 150 trillion rials ($5 billion), as well as paying a debt of 300 trillion rials ($10 billion) by the Ministry of Energy.

Energy Minister Hamid Chitchian said in September that the ministry owes 155 trillion rials ($5 billion) for electricity and 50 trillion rials ($1.7 billion) for hydroelectric power plants to the private sector and contract partners.

 

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Iran, Total agree to build petrochemical plant

Category: News

Iran's National Petrochemical Company (NPC) and the French energy giant Total signed a memorandum of understanding (MoU) to build a petrochemical complex in Iran.

The MoU was inked during the visit of a high-profile delegation from Total to Iran last week, Shana reported.

Accordingly, Total has agreed to initiate appraisal studies for construction of the project in Iran.

The complex will include a steam-cracker unit that will be built in coastal regions based on the world's latest standards to be fed by ethane, naphtha, liquefied petroleum gas (LPG) and other liquid feedstock.

Once completed the complex will supply domestic and well as international markets with petrochemical products.

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