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News ID: 5501
Iran » Iran
Publish Date: 15:13 - 15 November 2014
Tehran, YJC. Energy Ministry says Iran and China have signed a huge economical and industrial contract.

Deputy Minister of Energy Esmail Mahsouli in interview with Mehr news agency said that credit lines have been opened for China in Iran's giant energy projects.

The changes made into the lines by the government and Central Bank have been satisfactory to the Chinese parties, he said.

"Prior to this, Iran and China had agreed on reopening about $23 billion finance for industrial and civil projects. As the changes were made, the amount has more than doubled to reach 50 to 52 billion dollars,” the Deputy Energy Minister asserted.

He further said that the contract covers the entire industrial and civil projects as well as projects in water management, electricity, energy, oil, gas, petrochemicals and mining.

Maintaining that the Energy Ministry has signed contracts with Chinese parties in water management and electricity, he said that the deal covers 1.5 to 2 billion dollars which has been provided by the Iranian party.

Also, former Oil Ministry’s deputy in international affairs said that agreements have been made with China to reopen finance at 4 to 4.5 billion dollars on new petrochemical projects, maintaining that 12 projects are to be covered through the agreement Abbas Sheri Moghaddam has also said that Chinese financiers have opened a credit line for 5 projects in Iran's petrochemical projects.

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