- Iranians holding Ashura mourning for Imam Hussein
- Third step: Iran officially informs EU of plan to expand nuclear R&D
- Iran expands nuclear R&D program: Rouhani
- Iran goes ahead in space tech, despite US sanctions: ISA
- Resistance Front undermining Israeli regime power: Top commander
- Iran: 7 crew members of detained UK ship freed
- US addiction to sanction threaten its power: Iran’s Zarif
- Dutch role in 2007 Stuxnet attack on Iran’s nuclear site under scrutiny: Iraian FM Spox.
- Iran: ‘Sustainable Security 2019’ kicks off in Caspian Sea
- Iran’s Zarif leaves Tehran for Moscow
- Shiraz University ranked 1st in liver transplantation: Iranian health official
- Japan’s Abe to meet Iran’s president to discuss easing tension in region
- Downing of US spy drone shattered war threats against Iran: Top IRGC commander
- IAEO head reports development of first ion-therapy hospital in west of Asia
- Iranian Taekwondo team wins 2019 World Cup championship
- US sanctions failed to force Iran to buckle: Report
- Crew fixing Iran oil tanker broken down in Red Sea
- As Iranians hold nerves, US seeks to scare off trade
- Leader expresses concern about Kashmir, urges India to follow fair policy toward Muslim-majority region
- Iran saffron exports down due to smuggling, government restrictions: Exporter
- Iran FM warns US against ‘serious miscalculation’ in Persian Gulf
- Iran’s resistance policy led to release of oil tanker: MP
- Iran in reverse brain drain as top students come home in rising numbers
- Iran official calls for compensation for tanker seizure
- Iran hails N Korea for standing against ‘unilateral’ US demands
- Shia Muslims celebrate Eid Al-Ghadir
- North Korea praises Iran’s anti-US struggle
- Zarif says to meet French president Friday
- Iranian court hearing case of UK oil tanker
- Over half of Japanese voters oppose joining US-led anti-Iran coalition in Persian Gulf: Poll
- IME trade ups by 21 percent in July
- Finland backs INSTEX in defiance of US
- US anti-Iran policy in high seas harms Europeans: LA Times
- Iran, China confer on Syria
- Iran, Finland share views on Persian Gulf dialogue forum: Zarif
- Iran warns US against seizure of oil tanker
- Iraq eager to benefit from Iranian Police’s experience
- Iran planning 3rd step to reduce nuclear commitments: Spokesman
- Leader grants clemency to over 1,000 Iranian inmates
- Registration for Arbaeen Pilgrimage to begin in Iran on Friday
- Iran, Iraq agree to reopen Khosravi border crossing
- Iran deplores suicide attack at Kabul wedding hall
- Iran to hold int'l hand-woven carpets expo
- Zarif meets with Iran-Kuwait Friendship Group members
- Adrian Darya oil tanker not under any sanctions, says Iran envoy
- ‘Iran to stay in nuclear deal as long as its interests are met’
- India envoy happy with positive trend of trade with Iran
- Iran’s annual export of white meat tops 2.5m tons: Minister
- Iranian scientist discovers new state of matter
- Iran, Japan diplomats discuss bilateral ties
- Iran, Ansarullah, European representatives Yemen developments
- ‘Iran to become self-sufficient in producing aircraft engines'
- US issues seizure warrant for Iranian supertanker 'Grace 1'
- Neanderthal tooth unearthed near Iran’s Zagros mountain
- Iran’s Zarif due in Kuwait on Saturday
- US faces humiliating defeat after Gibraltar releases Iranian tanker: Envoy
- Spokesman rejects claim on Iran’s commitment in exchange for tanker release
- Zarif reacts to release of Iranian tanker in Gibraltar
- Israel, UAE engaged in secret talks on Iran arranged by US: Report
- US threatens visa ban as Iranian-operated tanker sets to sail from Gibraltar
- Enemies must factor Iran's global power in their calculations: IRGC's chief commander
- Trump’s administration conflicting messages to Iran baffle go-betweens: Report
- Gibraltar releases Iran-operated tanker despite US pressure
TEHRAN, April 25 -Iran has awarded an agreement to China to develop a major petrochemical park in a southern province in what could be part of a scheme to settle Beijing’s old oil-related debts to Tehran.
TEHRAN, Young Journalists Club (YJC) –According to local media reports, the agreement was awarded to China Petroleum and Chemical Industry Federation (CPCIF) which will develop the park in Chabahar port city in Iran’s southeastern province of Sistan-Baluchestan.
Reports quoted Morteza Bank, the secretary of Iran’s High Council of Free Trade Zones, as saying that the development of Chabahar had a top priority in the agenda of the administration of President Hassan Rouhani.
Bank added that Rouhani’s administration had to the same effect was pushing ahead a plan to construct a pipeline to take natural gas from Iranshahr - also in Sistan-Baluchestan- to the city – what he said would help the development of petrochemical projects like the one contracted to the CPCIF. The pipeline to Iranshahr originates from South Pars energy zone and is originally meant to export gas to Pakistan.
The official further emphasized that the Chinese involvement in the development of Chabahar Petrochemical Park would help with the transfer of technology to Iran.
Bank also said he hoped the project would become a milestone for the further expansion of relations between Iran and China.
A report by Iran’s Persian-language newspaper Sharq said the country had at least $18 billion still blocked in China in what it said was a result of complications related to previous sales of oil to Beijing during the years of sanctions.
It added that the amount had been accumulated in China after the government of Iran’s former president Mahmoud Ahmadinejad (2005-2013) sealed a contract with Beijing in 2008 by means of which the money for oil that Iran sold to the country would be used as “bail” for exports of Chinese products to the Islamic Republic.
The scheme apparently was devised after the sanctions made it impossible for Iran to transfer the money for the oil it sold to other countries to its own accounts.
Other previous media reports in Tehran said China was working on a plan that envisaged using the blocked Iranian petrodollars to invest in petrochemical projects in Iran.
Source: Press TV
Your Comment