Iran, China sign $347 mln deal in steel sector
Baku, Azerbaijan, May 20
By Fatih Karimov - Trend:
A Chinese company has signed a $347-million deal with the National Iranian Steel Company to build a steel plant in southwestern Iran.
China's MCC Company director for international affairs Zuo Yuman signed the deal with National Iranian Steel Company Managing Director Mohammad Khandadashpour in Tehran, Iran's IRNA news agency reported on May 20.
The project will create one thousand direct jobs and ten thousand indirect jobs.
On December 6, 2013, MCC secured €1.8 billion funding for implementing seven steel projects in Iran, Iran's Mehr news agency quoted Head of the Iranian Mines and Mining Industries Development and Renovation, IMIDRO, Mehdi Karbasian, as saying.
The Chinese company is ready to finance seven Iranian steel projects, he said.
On June 6, 2012, Iranian Ministry of Industry, Mine and Trade and MCC signed a memorandum of understanding to expand industrial cooperation.