Iranian firm to use Chinese finance in domestic, regional projects
Iranian water and energy company Sunir has signed a contract with China on providing fund and equipment as well as carrying out new projects related to electricity production and transmission.
Besides that, the Chinese company Shandong has franchised Iran for delivering electrical goods, equipment, and services to 15 Asian and African countries.
Iranian electrical company Sunir CEO Bahman Salehi said the target countries are Senegal, Ethiopia, Turkmenistan, Tajikistan, Azerbaijan, Armenia, Georgia, Iraq, Syria, Yemen, Pakistan, Sri Lanka, and Afghanistan, ISNA news agency reported.
“We have planned to invest $5 billion in signing contracts and $2 billion in sales,” Salehi said.
But back in June, Alireza Kolahi, chairman of the Iranian Electrical Industry’s Syndicate, said Chinese finance would threaten Iran ’s electrical industry.
Chinese finance is actually assets of Iran that have been blocked as a result of sanctions, he said, adding that Chinese finance is against the law and contrary to guidelines of the Supreme Leader, Ayatollah Ali Khamenei.
Vast use of Chinese goods and equipment in the Iranian electrical industry will damage Iranian manufacturers, he noted. 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.
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