Iran, China sign $500 million deal
Azerbaijan, Baku, July 16 /Trend/
China will provide incinerator system for Iran and enables the country to produce electricity from garbage by using this system, Mojnews reported quoting head of Department of Environment Mohammad Javad Mohamadizadeh.
"During next solar year (will start on March20,2012) the incinerator system will be installed and it's predicted the process of implementation of this system across the country will complete in 5 years ," he said.
The two countries agreed to increase level of commercial cooperation from$30 billion to $100 billion, he added.
He noted China intend to increase its investment on Iran's hydro plant section and provide financial sources for Bakhtiari Dam and some refineries in the country.
Iran and China's official and private sector signed three agreements on field of environment, industry and water Friday night.
Iran is China's third crude oil supplier exporting more than $17 billion oil and gas to china also exported steel, steel ingots , copper, pistachio , saffron and other non - oil products in recent years.
China exported equipments, light industrial products, machineries, cars, agriculture and food products to Iran.
According to the International Monetary Fund (IMF), Iran is the third largest country in the Middle East and Central Asia in terms of exports and imports.