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Iran Bids To Strengthen Economic Relations with Both China and Japan

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EIRNS—In what could be one massive economic deal, Iran signed today an agreement with China for it to finance one of the largest refinery projects in Iran, the Deputy Head of the National Iranian Oil Refining and Distribution Company (NIORDC), Shahrokh Khosravani, told Mehr News. Khosravani also announced the maintenance plan for Abadan Refinery by tapping financial sources provided by Chinese credit. Announcing that the credit required for construction and operation of the refinery is about 2,600 billion euros, Khosravani said the final agreement was
signed with a Chinese investor to fund the refinery project, Mehr News reported.

Mehr News also reported that Iran’s Deputy Oil Minister, Abbas Kazemi, issued a statement last week saying Iran’s engineering office is now working in China developing a detailed design of the Abadan refinery expansion project. The Abadan oil refinery project aims at stabilizing refining capacity of the 100-year-old refinery, FNA said.

In addition to concluding the massive deal with China, Iran is reportedly moving forward to get Japanese assistance in its nuclear power generation program once its talks with P 5+1 (USA, Russia, Britain. France, and China, plus Germany) group of nations come to a successful end. Trend News reported Japanese Ambassador to Tehran, Koji Haneda, as saying: "We are willing to sign economic and cultural memorandum of understanding with Iran" on supplying nuclear power-related equipment. He added that Japan hopes Iran’s talks with P5+1 will yield peaceful results and "private Japanese companies won’t have any restriction for operation in Iran."

Ramtanu Maitra