More Chinese firms willing to invest in Iran's mining sector

June. 10 2016

The number of the Chinese companies that have voiced interest in investing in Iran's mining projects has risen, announced a senior industrial official on Friday.

"Chinese NFC and Power China companies said that they are willing to take part in Iran's mining sector," said Planning Director of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) Amir Khorramishad, reported Fars News Agency.

The official said Deputy Head of NFC Junman Qin and Power China's CEO Zhou Jiayi held separate meetings to study investment opportunities in the Iranian mining sector as well as in infrastructural and power plant projects.

Junman Qin said his company is willing to be present in the Second Iran Mining Session in July.

In late May, Tehran and Beijing signed over half a dozen cooperation documents in different fields.

Seven memoranda of understanding (MoUs) were signed between Iranian Deputy Minister of Industry, Mines and Trade Valiollah Afkhamirad and visiting trade delegation from China's Zhejiang province in Tehran.

Iran and China signed the MoUs to boost trade cooperation. Last week, Iranian Oil Minister Bijan Namdar Zanganeh said a major part of Iran-China relations was formed during the era of embargoes on Tehran, adding the two countries can enhance relations in the post-sanctions setting.

Addressing a meeting with Deputy Administrator of National Energy Administration of China Zhang Yuqing in his Tehran office, Zanganeh said Iran is seriously pursuing the bolstering of ties with China.

He expressed satisfaction over the endorsement of a memorandum of understanding the Chinese official signed with Amir Hossein Zamani-Nia, deputy oil minister for international affairs and trading, on Sunday, and said, "Very important topics were considered in the MoU and we are committed to their fulfillment."

The minister hailed China's energy cooperation with Iran, expressing hope that the relations will enhance in the post-sanctions setting.

He also said that the visit to Tehran by the Chinese president was a turning point in the relations between Tehran and Beijing.

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