Power Crisis in Iran: A Structural Threat to Industry and Livelihood - Iran News Update

Iran: Cement Industry Crisis; Factory Shutdowns, Pressure on Housing Market and Stock Exchange

As power outages increase and cement factories halt production, the price of this essential construction material has experienced a rare surge. Construction industry stakeholders are calling this situation a “disaster” for the housing market. Pezhman Jouzi, head of the Construction Industry Association, warned on Thursday, May 22, in response to the rising cement prices due to electricity and energy shortages, saying: “For the public, the news o…

Despite its significant oil and gas resources, Iran has been facing a serious energy crisis for several months, due to its outdated infrastructure and international sanctions.

The Ministry of Electricity, Thursday, announced the loss of 3,500 MW of production as a result of the Iranians' reduction of gas supplies to Iraq during the current May, while noting that the "challenge" over the next month is expected to be greater.

Power Crisis in Iran: A Structural Threat to Industry and Livelihood - Iran News Update

In a year designated by Iran regime’s Supreme Leader Ali Khamenei as one of “investment for production,” the country’s industrial and manufacturing sectors are facing a severe and worsening crisis. Dozens of large and small factories have either shut down or are on the brink of bankruptcy due to chronic power outages. Thousands of minimum-wage workers have lost their jobs, and many more are facing an escalating livelihood crisis. Despite mountin…