Baku, Azerbaijan, Mar. 15
By Fatih Karimov - Trend: Iran has sent a delegation to China to pursue the country's default in financing seven steel projects in Iran.
Iran's Deputy Minister of Industry, Mine and Trade Mehdi Karbasian said that the chairman and the vice chairman of the National Iranian Steel Company and the director of the Iranian Mines and Mining Industries Development and Renovation Organization have traveled to China to follow up the case, Iran's Fars news agency reported on March 15.
Karbasian said that although the finance contract was signed last year, but no money has been so far allocated.
China had pledged €3 billion funding for implementing seven steel projects in Iran, he noted.
Meanwhile, Chinese Ambassador to Tehran Peng Sen vowed on March 8 to pursue the case of his country's financing seven Iranian steel projects.
Sen assured that delays by China Development Bank and China Export & Credit Insurance Corporation (Sinosure) in financing the projects will be taken care of as soon as possible.
The two Chinese organizations are required to pay for contractors and manufacturers of equipment gone into building the 7 steel complexes.
The Chinese sides have refrained for months from doing their part despite the fact that Iran has paid the advance payment required of it.