China enters Iran’s metallurgical sector with about $ 2 billion

The largest investment Chinese metallurgical group of the MSU will provide $ 2 billion for financing the Iranian steel industry. Seven metallurgical plants of Iran will participate in the investment program of China. This was announced on Friday by the head of the Ministry of Industrial Industry and Development of Iran Iran Imidro Mehdi Karbasi.

"The Chinese company will finance seven Iranian metallurgical projects," said Karbasi.

Recall that in October of this year, the head of Imidro reported the intentions of the MSU managers to visit Iran to study the situation and discuss the principles of financing and planning investments in this country.

Earlier it was reported that Iran and MSS signed a memorandum of mutual understanding and expanding cooperation in the field of industrial production. With this document, the MSU pledged to three times to increase the volume of investment in Iran compared to the current level.

The Chinese MSU and Sinosure jointly invested in Iran metallurgy already more than $ 20 billion and, according to local media reports, intend to develop another 12 new projects in the steel industry of the region.