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China advances rail and containership deals with Iranian authorities
CHINA National Transportation Equipment & Engineering Co Ltd (CTC) is finalising an agreement on the US$3 billion rail project to connect Tehran with the northeastern holy city of Mashhad, a Chinese source told Reuters.
Dalian Shipbuilding Industry Co, also state-run, has been in talks to build containerships and tankers for Iran, according to two sources who declined to be named.
China, Iran's biggest trading partner and long-time ally, has agreed to boost bilateral trade by more than 10 times to $600 billion in the next decade.
No longer subject to international sanctions, China sees Iran as a source of new trade and new markets as its own economy slows.
China's Export and Import Bank (EXIM) is expected to fund 85 per cent of the 930-kilometre railway, providing engineering, procurement and construction services, said the source.
China EXIM Bank is Beijing's designated policy lender for large trade deals and overseas investments by Chinese firms.
Dalian Shipbuilding Industry Co, also state-run, has been in talks to build containerships and tankers for Iran, according to two sources who declined to be named.
China, Iran's biggest trading partner and long-time ally, has agreed to boost bilateral trade by more than 10 times to $600 billion in the next decade.
No longer subject to international sanctions, China sees Iran as a source of new trade and new markets as its own economy slows.
China's Export and Import Bank (EXIM) is expected to fund 85 per cent of the 930-kilometre railway, providing engineering, procurement and construction services, said the source.
China EXIM Bank is Beijing's designated policy lender for large trade deals and overseas investments by Chinese firms.
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