Baku, Azerbaijan, Jan. 12
By Fatih Karimov - Trend: Iran's Energy Ministry has used $3 billion of the country's assets, which had been frozen in China due to international sanctions, in development projects.
Alireza Daemi, Iranian Deputy Energy Minister, said three dams, namely Roudbar, Shafaroud, and Cheshmgir, and two power plants, namely Tabas and Parsian, are being established using the Chinese finance, Iran's Fars news agency reported on Jan. 12.
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 using Chinese finance, including the construction of oil refineries, roads, power plants, and airports.
Earlier, Iranian media outlets quoted Speaker Ali Larijani as saying he has negotiated with Chinese officials to finance some $20 billion in development projects in Iran using frozen oil money.
Edited by CN