China financing $5B of projects' cost in Iran’s mining sector
Tehran, Iran, June 8
By Kamyar Eghbalnejad - Trend:
China has financed $5 billion of projects' cost in Iran’s mining industry sector, Deputy Minister of Industry, Mining and Trade Mehdi Karbasian said.
“Around $5 billion of China’s total finance of $20 billion in Iran has been allocated to the country’s mining sector,” Karbasian said on June 8 addressing China Investment Conference 2018 underway in Beijing.
He added, “We are keen to increase our cooperation with Chinese companies in the field of finance and investment”.
The Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) and Chinese firms are cooperating closely to improve bilateral ties between the two countries, the official said.
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 the end of the current Iranian calendar year (started on March 21, 2018).
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 Asaluyeh, Bushehr Province.