Chinese firms to invest 5m yuan in northeastern Iran

A group of Chinese firms sealed an agreement with officials of Iran’s northeastern province of North Khorasan to invest a total of five million yuan in the mining industries of the province.

Deputy Governor General of North Khorasan Province Majid Pour-isa announced the above adding that the investments will be made in mines of Garmeh city of the province, reported Fars News Agency.

“Chinese operation in the province’s mines will start as of the next Iranian year (to start on March 21),” he said.

There are also plans to cede land to the Chinese in Bojnord Special Economic Zone to set up plants, he said.

Some 21 types of minerals with reserves of 775 million tons were discovered in North Khorasan Province, the most important of which are bauxite, marble, limestone and plaster.

Back in late September, 2018, Chinese Foreign Minister Wang Yi, in a meeting with his Iranian counterpart Mohammad Javad Zarif in New York, called for broadening of mutual cooperation, especially in trade and economic fields.

“Beijing will maintain economic relations with Tehran and is committed to Iran nuclear Deal despite pressures from the US government,” Wang said during the meeting on the sidelines of the 73rd session of the United Nations General Assembly (UNGA) annual session.