Japan opens $10bn LOC to Iran

MNA – Iran’s deputy energy minister said the Japanese government had created a line of credit (LOC) worth 10 billion dollars for investment in and joint venture with Iran.

Houshang Falahatian, Deputy Iranian Energy Minister, pointed to an ongoing seminar on Tehran-Tokyo cooperation on the sidelines of the 17th International Electricity Exhibition of Iran saying “at the joint event, Japanese firms are seeking to introduce their capacities to Iranian counterparts as well as to discuss venues for investment in Iran’s power industry.”

“Japan’s ambassador to Tehran said his government had allocated a 10-billion-dollar credit line to companies interested in making investment or conducting joint venture with Iran,” noted the official stressing that the excellent measure would lead to a substantial success.

Falahatian, while stressing that the Japanese side was after investment and joint venture in thermal and renewable power plants, electrical substations and equipment related to electric power industry, said as part of the conference, meetings have been organized in conjunction with the private sector which will naturally pave the path for Iranian and Japanese firms to launch constructive partnership.

“On the other hand, the holding of such seminars could facilitate transfer of know-how and acquisition of new technologies obtained by Japan in recent years,” he continued.

Referring to the good outlook achieved in the era following JCPOA implementation, deputy energy minister underlined that establishment of bureaus of reputable Japanese companies can be the source of collaboration between domestic producers and their counterparts in Japan.

“If, in a timely manner and with participation of Japanese companies, common electrical equipment are manufactured domestically, exports of Iran’s engineering services and electrical goods to other countries, especially neighboring countries, will naturally increase.”

Houshang Falahatian also underscored that these measures would expand field of employment and boost access to new technologies for making more efficient equipment.