News in Brief
Iran, Oman stress promotion of banking, trade, economic ties
Officials from Iran and the Sultanate of Oman emphasized the need to enhance bilateral relations in the fields of banking, trade and economy.
Governor of the Central Bank of Iran (CBI) Mohammadreza Farzin, during a visit to Muscat, held talks with Omani Finance Minister Sultan bin Salim bin Said al-Habsi on Monday to discuss bilateral ties and issues of mutual interest, Tasnim news agency reported.
The two sides exchanged views on boosting bilateral ties in the monetary-banking fields.
Highlighting the 41 percent growth in trade volume between Tehran and Muscat in the current year, Farzin emphasized the need for increasing cooperation to facilitate trade-economic ties and develop trade exchanges between the two countries.
Given the amicable ties between Tehran and Muscat, he described strengthening trade and economic relations between Iran and Oman as important.
Iran joins world’s cryogenic cold box exchanger manufacturers
Iran has become the sixth country possessing technical know-how to design and manufacture heat exchanger of seven-phase cryogenic cold box.
Relying on domestic knowledge-based companies’ expertise, Iran’s Oil Ministry has managed to produce the high-tech component of cold box, Shana reported.
This piece of equipment is used in the ethane recycling unit of the South Pars Gas Complex (SPGC).
Cold box is among the most essential equipment of refineries and used for natural gas liquefaction, LNG cold utilization, ethylene production, methane production, air separation, boil-off gas (BOG) condensation, and CO-H2 separation.
The cold box made by French group Fives costs €3 million, while the type designed and manufactured by Iranian knowledge-based company Hilavis Arina is around 20 percent cheaper and the homegrown model saves the country 11 percent in foreign currency.