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Fri Jul 8 23:46:13 EDT 2011
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IKCO shoots for quality improvement and customer satisfaction - Iran: Taking advantage of all its facilities, IKCO has planned a comprehensive program to improve the quality of products, renew the existing platforms and design new ones. [AMEInfo.com]


Iran ready to close Strait of Hormuz if threatened - Iran: Iranian Revolutionary Guards commander General Mohammad Ali Jafari has said the country is ready to close the Strait of Hormuz to ships linking the Gulf to international markets if threatened, Mehr news has reported. "In light of the strategic position of the Strait of Hormuz, this issue has never been taken off the agenda," Jafari said. The Strait of Hormuz is a narrow waterway of strategic importance between the Gulf on the east and the Gulf of Oman on the west. [AMEInfo.com]

Iran hits out at OPEC decision to release crude from reserves - Iran: Mohammad-Ali Khatibi, Iran's representative to OPEC's governor board has said the group's decision to release crude from strategic petroleum reserves would damage the balance in the oil market, Irna has reported. The decision was made at the most recent meeting of OPEC, on June 8. Khatibi said that prior to the decision the global oil market was in a stable and balanced situation. [AMEInfo.com]

Iran expects petrochemical products revenue to reach $14bn - Iran: Abdolhossein Bayat, managing director of the National Iranian Petrochemical Co has said the value of Iran's petrochemical exports is expected to reach $14bn by the end of the current Iranian year (March 21, 2012), Fars news has reported. Iran has exported 2.8 million tonnes of petrochemical products worth $2bn in the two months ending May 20, he said. In May, Iranian first vice president Mohammad Reza Rahimi said the country plans to double its production capacity by setting up 66 more plants to raise the current capacity from 51 million tonnes to 116 million tonnes. [AMEInfo.com]

Iran Khodro Industrial Group sets program to design and produce eleven new cars - Iran: In the strategy of auto industry development in the 2025 perspective, at least 50% of products portfolio have been planned to be allocated to domestic brands. [AMEInfo.com]