China to invest €200M in Iran’s wastewater project
Baku, Azerbaijan, Sept. 25
By Fatih Karimov - Trend: China will invest €200 million in Tehran's wastewater project.
Asghar Riyazati, an official at the Iranian Energy Ministry, said that the money would be used to establish two wastewater treatment plants in the southern part of Tehran, Iran's Mehr news agency reported Sept. 24.
The treatment plant will include a network of some 350 kilometers of pipeline and will serve a population equivalent of 1.2 million, he explained.
He also said that the Iranian private sector would invest 1000 billion rials (about $28 million) in building another wastewater treatment plant in the city.
The landmark Iranian nuclear agreement of July 2015 paves the way for the return to growth of the Iranian economy and for a strong uptick in foreign investment, Business Monitor International said.
Iran's total foreign direct investment (FDI) stood at $2.105 billion in 2014, according to the United Nations Conference on Trade and Development (UNCTAD). Western companies are one after the other engaged in talks with Iran to resume their delayed activities or make new investments in the Islamic Republic in the wake of the nuclear agreement.
Edited by CN