Azerbaijan, Baku, Jan.29/ Trend F.Milad
China is interested to invest in Iran's mining projects, Chinese Ambassador to Tehran Yu Hongyang said.
Beijing is ready to invest in aluminum, steel, mechanical and hydraulic industries of Persian Gulf Mining and Metal Industries Special Zone (PGSEZ), the Mehr News Agency quoted the Chinese envoy as saying.
Iran is a secure market and boosting bilateral ties would benefit both countries, he said.
Hongyang made the remarks during a visit to the PGSEZ.
He hd previously voiced his country's willingness to invest in different Iranian provinces, particularly the western province of Kermanshah.
PGSEZ Managing Director Massoud Hendian for his turn described China as one of the biggest commercial partner's of Iran.
Hendian said PGSEZ plays an important role in Iran's economy as it is a major hub for producing steel, aluminum and zinc, export of non-oil commodities, and the shipping of bulk mineral products.
PGSEZ is projected to produce 10 million tons of steel, 500,000 tons of aluminum, he added.
Iranian ambassador to Beijing said last month that Chinese firms have invested 2 billion dollars in Iranian projects.
The Chinese companies had invested only 124 million dollars in Iranian projects back in 2009, IRNA news agency quoted Mehdi Safari as saying.
In 2009, the volume of trade between Iran and China was $20 billion, in 2010 it reached $30 billion, and in 2011 it was $45 billion.
China, like Russia, has consistently opposed the U.S. pressures on Iran and the West's economic sanctions imposed on the Iranian financial sector and petroleum products.
China has refused to comply with US requests to decrease oil imports from Iran and instead has increased its trade with the country.
In June, Iranian Ministry of Industries, Mines and Trade and China's Metallurgical Group Corporation (MCC) signed a memorandum of understanding to expand industrial cooperation with the economic giant.
The signing of the MoU adds 12 more projects to the ones already being implemented by the MCC, one of the world's biggest engineering contractors, in Iran.
The MCC and China Export & Credit Insurance Corporation (Sinosure) have jointly invested $20 billion in previous projects in Iran.
With the addition of 12 more projects, the investments are estimated to increase to $30 billion.
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