News ID: 216473
Published: 0216 GMT June 10, 2018

China financing projects worth nearly $5b in Iran's mining sector

China financing projects worth nearly $5b in Iran's mining sector

China has financed projects valued at almost $5 billion in Iran's mining industry sector, said Iran's deputy minister of industry, mine and trade.

According to Trend News Agency, Mehdi Karbasian further said in an address to China Investment Conference 2018, which is underway in Beijing, that about $5 billion of China's total finance of $20 billion in Iran has been allocated to the mining sector.

He added, "We are keen to increase our cooperation with Chinese companies in the field of finance and investment."

Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) and Chinese firms are cooperating closely to improve bilateral ties, he noted.

Karbasian said he had held a meeting with officials of China's NFC firm during which the Chinese side said it would complete a major aluminum project in southern Iran by next March.

The country does not have sufficient alumina production to meet the new plant's demands, so again the Chinese are further involved in talks to build a new 2-million-ton per annum alumina refinery in Assalouyeh in Bushehr Province.

   
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