Iran receives $17.5M from China

Business Materials 8 April 2019 17:51 (UTC +04:00)

Baku, Azerbaijan, April 8

By Elnur Baghishov – Trend:

Iran has received $17.5 million worth of compensation from China for failing to fulfill its commitment to implement the Uranium Conversion Facility (UCF) project, Mohammad Ghannadi-Maragheh, deputy head of the Atomic Energy Organization of Iran, said at a meeting with the director and staff of the Bushehr Nuclear Power Plant on the occasion of Iran’s upcoming National Nuclear Technology Day, celebrated April 9 annually, Trend reports referring to Tasnim News Agency.

According to Ghannadi-Maragheh, the Chinese side had received $45 million for this project and would have completed it in 11 years’ time.

"However, Iranian specialists completed the project in 3 years," he said.

Touching on the celebration of the National Nuclear Technology Day on April 9, the deputy head added that the UCF project was commissioned on April 9, 2003 as a result of the efforts of local experts, and it was announced 3 years later that Iran had acquired uranium enrichment technology.

Ghannadi-Maragheh called the Bushehr Nuclear Power Plant a source of pride for Iran.

Iran will celebrate the National Nuclear Technology Day tomorrow on April 9.