India and Iran signed a contract for operating the port in Chabahar

29 Jul 2024 CW Team

India and Iran have had friendly relations that date back thousands of years. This legacy is evident in the interaction between the two nations in cultural, economic and political fields. Iran's economy has improved in recent years; it is now the fifth-largest cement producer in the world with resources in energy, oil, gas, chemical, minerals and agriculture, and is executing important construction projects overseas. Considering that India is the world's second-largest cement producer and poised to become the world’s third-largest construction market, there is significant potential for collaboration between the two countries that remains untapped, especially in areas like construction of large projects, mass housing, solar, wind energy and energy storage solutions. In conversation with Group Managing Editor FALGUNI PADODE and R SRINIVASAN, Dr Davoud Rezaei Eskandari, Acting Consul General, Iran, expresses the hope that this will soon change in view of recent developments. Excerpts:

The size of Iran’s construction market size is projected to achieve an average annual growth rate (AAGR) of over 3 per cent during 2024-2027. Please tell us more about the projects you have undertaken. In which construction segments are your contractors most active?
Based on a recent IMF and World Bank report, Iran's economy is improving. According to the report, Iran's economic growth was 5 per cent in 2023 and 3.2 per cent in 2024. This growth rate is estimated to continue in upcoming years, as well...

To read the full story, CLICK HERE

Products

06 Oct 2025

TOTO India Launches Premium G & L Showers with Sleek Faucet Range

TOTO India has launched its G Shower and L Shower series, alongside an expanded range of GT, LH, and Pull-Out lavatory faucets. The collection blends advanced technology, refined aesthetics, and everyday comfort, staying true to TOTO’s philosophy of creating spaces that are both beautiful and functional. The G Shower series delivers the 3Rs of showering: Relaxing, Refreshing, and Revitalizing. Features include the Calming Shawl spray mode, Warm Spa technology, and multiple overhead and hand-shower options across eight finishes. The L Shower complements this with easy-to-use controls sui..

Hero Future Energies Secures Funding for 120 MW Hybrid Project

Hero Future Energies (HFE), through its SPV Clean Renewable Energy Hybrid Three, has secured Rs 19.08 billion in funding from the State Bank of India (lead) and Canara Bank. The funds will be used to develop and construct HFE’s 120 MW renewable energy hybrid project at Kurnool, Andhra Pradesh. The project, contracted with SJVN, integrates wind, solar, and storage technologies to deliver reliable peak power. With a 21-year repayment period, the funding ensures timely execution and the commencement of commercial operations. The financial closure demonstrates continued lender confidence in..

IOC GPS Renewables Raises Rs 8.36 billion Debt for Compressed Biogas Plants

IOC GPS Renewables Private Limited (IGRPL), a joint venture between IndianOil Corporation and GPS Renewables, has raised Rs 8.36 billion (approx. US$ 95 million) in debt financing from Indian Bank to execute nine Compressed Biogas (CBG) projects across India. The funding is the largest single-bank debt raise in the CBG sector and the first fully non-recourse financing in India for these projects. The plants—four in Haryana, three in Uttar Pradesh, one each in Chhattisgarh and Andhra Pradesh—will each produce 15 tonnes of CBG per day using paddy straw as feedstock. All nin..