Iran, China to sign 6 contracts in water, electricity sectors
Baku, Azerbaijan, Jan. 6
By Rahim Zamanov - Trend:
Iran and China plan to sign six contracts in the fields of water and electricity in the near future, Iranian Energy Minister Hamidreza Chitchian said on Jan. 6, the Mehr News Agency reported.
"Currently the preliminary studies are being done and as soon as the Central Bank of Iran gives the green light, the construction operation of the projects will begin," he said.
Chitchian went on to note that currently Lorestan dam and Kamshir hydroelectric power plant are under construction with the finance of Chinese firms.
The IRIB News Agency reported on Dec. 11 that Tehran and Beijing plan to double their investments in each other's economic sectors next Iranian calendar year (to start March 21, 2014), head of the Iran-China Chamber of Commerce , Assadollah Asgaroladi said.
"The two countries' trade turnover was around $27.5 billion in the first eight months of the current year (which started March 21)," Asgaroladi said.
"We plan to increase the figure to $38 billion by the end of the year," he added.
"Increase non-oil exports, boosting mutual investments, and organizing banking issue are the main three goals of Iran-China Chamber of Commerce and Industries," he said.
According to Asgaroladi, Iran has exported $4.5 billion worth of non-oil goods to China in the first half of the current year.
"He hope the figure would reach $9 billion by the end of year," he explained.
"We have offered to buy shares of some Chinese banks," Asgaroladi said, adding that doing so will help Iran bypass international sanctions' against the country's banking sector.
He went on to note that Tehran is considering buying the shares of some banks in other Southeast Asian countries as well.
Iranian media outlets reported on Nov. 2 that Tehran and Beijing have reached an agreement to unfreeze Iran's oil revenues which are blocked in Chinese banks.
Iran's Parliament (Majlis) Speaker Ali Larijani arrived in Beijing on Oct. 29 for a four-day visit to discuss major economic issues.
Concurrent to his visit, Iran's Vice President Mohammad Bagher Nobakht said $22 billion worth of the country's assets has been blocked in China.
Ali Mohammad Ahmadi, a member of the Majlis Planning and Budget Committee, on Nov. 2 told the Islamic Consultative Assembly News Agency that China will export capital equipment to Iran in exchange for the blocked amount of money. He also said that 40 joint projects have been introduced to Chinese investors.
Another Iranian MP, Hossein Sobhaninia, who accompanied Larijani in his trip to China, also told the Tasnim News Agency that the Chinese will finance $20 billion worth of Iranian projects in exchange for the blocked money.