Page 42 - IRANRptApr20

Reza Rahmani and Azerbaijani Deputy Prime Minister Shahin Mustafayev during a visit to Iran.
Establishing the 95 hectare park is to open doors for both foreign and local investors, officials say.
Previously, secretary general of the Iran-Azerbaijan Joint Chamber of Commerce, Hussein Vosuqi Irani, told Trend that Iranian and Azerbaijani manufacturers would jointly produce products in the industrial park.
The average price for a square metre of a residential unit in Tehran stood at Iranian rial (IRR) 127mn ($3,016 at the official exchange rate, $1,123 at the free market rate) at the end of the Persian calendar month of Mehr (ended October 22), marking 0.4% m/m and 47.7% y/y increases, ILNA has reported citing Central Bank of Iran (CBI) data.
The CBI surveys the property market via its online residential sales system which logs sales on the national level. The severe devaluation of the rial together with soaring inflation in the past year and a half since the US reintroduced heavy sanctions against Tehran has wrought some havoc with Iran’s property market.
Also according to the official data, the total amount of residential unit transactions in the Iranian capital of 15.2mn people in Mehr reached 3,400, up 22.0% m/m and down 63.7% y/y.
District 1, consisting of uptown neighbourhoods, had an average price of IRR269.6mn per sqm, while District 2, also uptown, had an average price of IRR219.9mn per sqm.
At the other end of the scale is District 18. It appears to now be the cheapest area in Tehran with an average per sqm value of IRR55.2mn. District 19 was a little more expensive at IRR61.75mn.
The most sales in the cited calendar month were seen in moderately priced District 5, which accounted for 15.1% of all sales. It was followed by Districts 2 and 4 with 9.1% and 7.9% shares of sales, respectively.
9.1.10 ​Metallurgy & mining sector news
Iran produced 18.5mn tonnes of steel ingot in the first 11 months of the 2019/2020 Persian year (year ends on March 19), marking growth of 4% y/y, Mehr news agency reported on March 14.
Bonab Steel Production Company reportedly registered 865% growth in producing billet ingot in the period while Esfahan’s Mobarakeh Steel Company and Hormozgan and Saba steel companies produced 8,389,280 tonnes of steel, approximately the same amount as was recorded in the first 11 months of the 2018/2019 Persian year.
Iran’s total steel production volume, including rebar, beam, hot and wide steel sheets, galvanized sheet and pipe hit 12,308,475 tonnes, up 7% y/y.
Iran is working to a strategy running to 2025 under which its steel production capacity would rise to 55mn tonnes. It stood at 35mn tonnes by March 20, 2019.
9.1.11 ​Renewable energy sector news
Iran and Russia have signed a contract to construct a thermal power plant in southern Iranian Hormozgan province, according to Mehr News Agency. ​“Russia is to allocate a loan worth €1.2bn for the construction of 1,400-megawatt Sirik thermal power plant [in Sirik County],” Iran’s Energy Minister, Reza Ardakanian, was quoted as saying during a contract signing
42​ IRAN Country Report April 2020 www.intellinews.com