Thursday Oct 31, 201307:16 PM GMT
China interested in investing in Iran mining sector: Envoy
Aluminum coils produced at Iran’s Hormuzgan Aluminum Smelter Plant (file photo)
Aluminum coils produced at Iran’s Hormuzgan Aluminum Smelter Plant (file photo)
Sun Jan 27, 2013 6:32PM
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Chinese Ambassador to Tehran Yu Hongyang says Beijing is eager to invest in Iran’s mining projects and further develop economic relations with the Islamic Republic.


During a visit to the Persian Gulf Mining and Metal Industries Special Zone (PGSEZ) in southern Iran, Yu said competition is rapidly on the fall in global markets, and Iran’s secure market can have benefits for Beijing and Tehran.

He expressed hope that China and Iran would undertake joint industrial projects and exchange expertise through regular expert-level meetings.

PGSEZ Managing Director Massoud Hendian described China as Iran's biggest commercial partner, and pointed to the high volume of trade transactions between the two countries.

He also praised China for the growth of production and trade in its free trade zones, stressing that Tehran and Beijing can cooperate with each other on the development of industrial and mineral plants, sea ports, power plants as well as aluminum and steel industries.

Hendian said PGSEZ plays an important role in Iran’s economy as it is a major hub for producing steel, aluminum and zinc, export of non-oil commodities, and the shipping of bulk mineral products.

On January 15, Iranian Minister of Industry, Mine and Trade Mehdi Ghazanfari said the country’s mineral reserves are valued at more than USD770 billion.

MP/HGH/SS
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