Baku, Azerbaijan, June 30
By Fatih Karimov - Trend: Chinese finance would threaten Iran 's electrical industry, said Alireza Kolahi, the chairman of the Iranian Electrical Industry's Syndicate.
Although Chinese finance has not yet reached Iran 's electrical projects, but it should be noted that Chinese finance would threaten Iran's electrical industry, Iran's Fars news agency quoted Kolahi as saying.
Chinese finance is actually assets of Iran that have been blocked as a result of sanctions, he said, adding that Chinese finance is against the law and contrary to guidelines of the Supreme Leader.
Vast use of Chinese goods and equipment in the Iranian electrical industry will damage Iranian manufacturers, he noted.
"Iranian companies can compete with their foreign rivals if they are supported, but unfortunately we lost the Iraqi market for exporting electrical equipment to our rivals from Turkey and Saudi Arabia," he said.
Iran's $22 billion worth of assets has been frozen in China. The country is not able to transfer its exported oil money into the country due to international sanctions.
Chinese companies have agreed to invest 2-3 times the sum in Iranian projects.
Asadollah Asgaroladi, the chairman of Iran-China joint chamber of commerce, has said that 80 projects have been defined to use the Chinese finance, including the construction of oil refineries, roads, power plants, and airports.
Edited by CN