TEHRAN (Tasnim) – An Iranian petrochemical official announced on Saturday that Chinese credit lines have been opened for four petrochemical projects in Iran.
“The projects will tap into a total amount of $2 billion from the Chinese LCs,” the Iranian official added.
Referring to the problems with Chinese LCs in recent years, Peyvand went on to say that the obstacles to using such credit lines have been removed.
In recent years, China has financed many Iranian projects, especially in the oil and petrochemistry industries. Earlier this month, it was announced that efforts are underway to secure a credit line from China to fund renovation of Iran’s oldest oil refinery.
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