Appeals Court Rejects Kish Tisa Project Contract Termination, BSTE Says Agreement Remains in Force
Sahmino Newsroom | 27 October 2026 | 16 days ago
International Construction Development, listed as BSTE, said in a Codal disclosure on Tuesday, October 27, 2026, that the Hormozgan appeals court overturned a lower-court ruling upholding termination of its subsidiary's Tisa project contract and eviction from the Kish site. The company says the ruling is final and its agreement with the Kish Free Zone Organization remains in force.
The project remained stalled at the time of the disclosure. The company has not established the ruling's financial impact and is still examining an extension of the building period and how work could resume. The court decision is not an announcement that construction has restarted.
Sahmino context
What the prices have done since this story was published, and what Sahmino wrote around it
Since this story was published, BSTE rose 12 percent, to 928 rial.
Over the same days, US Dollar fell 2.0 percent, to 2,640,700 rial.
Over the same days, Tehran Stock Exchange Index rose 6.3 percent, to 8,427,304.
Over the same days, Brent Crude fell 19 percent, to 92.00 dollars.
- BSTE
- +12.5%
- US Dollar
- −2.0%
- Tehran Stock Exchange Index
- +6.3%
- Brent Crude
- −19.5%
Prices to the close of 11 November
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