Rostec

"Tekhnopromexport, part of Russia's state industrial conglomerate Rostec, has become the first Russian company to win a large, firm contract with Iran after the end of Western sanctions on the Islamic Republic, the business daily Kommersant writes... The company will build a thermal power plant with a capacity of 1.4 gigawatts (1.4 billion watts) in the port city of Bandar Abbas in about five years... The project is estimated at 1 billion euros ($1.12 billion) and will be financed through a Russian export loan... Kommersant cites analysts as saying that Tekhnopromexport will find it hard to earn on this project and call it a largely political one... Despite growing political ties between Moscow and Tehran, economic cooperation between the two nations faces snags on a number of fronts, including project financing... Iran insists that Russia issue loans to fund joint projects which include Russian contractors... Reuters has not verified this story and does not vouch for its accuracy." (Reuters, "MEDIA - Russia wins first large contract in post-sanctions Iran - Kommersant," 8/1/2016).

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"A subsidiary of Russian state defence company Rostec, United Engine-building Corporation (UEC), is preparing a 50-70 billion rouble ($635-890 million) supply contract with Iranian oil firm Kala Naft Tehran, Russia's TASS news agency reported on Wednesday. If successful, the contract would further strengthen commercial ties between Moscow and Tehran after the rolling back of Western sanctions on Iran over its nuclear programme last month. A top adviser to Iran's Supreme Leader Ayatollah Ali Khamenei, Ali Akbar Velayati, said in Moscow last week Iran and Russia had initialled contracts worth around $40 billion for projects including power-engineering and railway works. 'We have a framework contract with Kala Naft - a subsidiary of the National Iranian Oil Company,' TASS quoted UEC Deputy General Director Sergei Mikhailov as saying. 'We see supplies for a large number of devices, for energy and gas-pumping projects.'" (Reuters, “Russian engine firm, Iranian oil company eye 50-70 bln rbl contract,” 2/10/2016)

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"On Monday, Iran's Minister of Industry, Mining and Trade, Mohammad Reza Nematzade, and his Russian counterpart, Denis Manturov, opened an industrial exhibition in Tehran. The three-day fair by Russian industrial holding Rostec State Corp, along with hundreds of business leaders, aims to introduce Russian industries to Iran, state television's website reported. Rostec owns 700 enterprises, organised into 14 holding companies, and nine of which are focused on the military. Russia is 'not afraid' of Western economic delegations trying to dominate Iranian markets after the lifting of sanctions, a Rostec official said Tuesday... Iranian engineers were examining the Sukhoi Superjet 100, in which the Russians travelled, Kladov said. 'If we can technically satisfy' Iran, a possible number 'around 100 aircraft' would be sold to Iran, he added. Rostec Helicopters was also in talks with Iran to sell new Russian medical helicopters. Rostec will also repair and upgrade a fleet of 50 Russian helicopters now operating in Iran." (AFP, "Work on new Russian nuclear reactors in Iran 'to start next week,'" 12/22/15)