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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    China Opens $1.3bln Credit Line to Finance Iran's Energy Projects

    Lobo
    Lobo
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    China Opens $1.3bln Credit Line to Finance Iran's Energy Projects Empty China Opens $1.3bln Credit Line to Finance Iran's Energy Projects

    Post by Lobo Tue Jan 10, 2017 7:34 pm

    China Opens $1.3bln Credit Line to Finance Iran's Energy Projects
    China Opens $1.3bln Credit Line to Finance Iran's Energy Projects 13951021000557_Test_PhotoI



    TEHRAN (FNA)- Deputy Oil Minister Abbas Kazzemi announced that several Chinese companies have opened the first line of credit (LoC) worth $1.3 billion to finance new refinery projects in Iran.
    "The first phase of the 1.3-billion-dollar line of credit has been officially opened by a Chinese firm for the project to develop and optimize Abadan Refinery," Kazzemi said.
    He said that the finance for Abadan oil refinery project had been supplied by China Export & Credit Insurance Corporation (commonly known as Sinosure), adding, "The project mainly aims to lower fuel oil output and boost production of more valuable production like gasoline and gas oil."
    He reiterated that the two phases of the development project in Abadan Refinery would demand an aggregate total of $3 billion of investment, and said, "Iran enjoys 15 percent of the share in the project while the rest of the share will be supplied by Chinese financers.
    He had previously stressed that all old refineries of the country required a total of approximately 14 billion dollars for them to produce Euro-4 products and decrease fuel oil out pot to less than 10 per cent.
    Iran has so far held several negotiations and signed a number of memoranda of understanding (MoUs) with a number of Asian firms, including Daelim of South Korea, Japan Cooperation Center and Petroleum (JCCP) and Japan’s JGC Corporation as well as Sinopec of China among others.
    http://www.worldaffairsjournal.org/content/china-opens-13bln-credit-line-finance-irans-energy-projects?utm_source=World+Affairs+Newsletter&utm_campaign=59664e6cf1-EMAIL_CAMPAIGN_2017_01_10&utm_medium=email&utm_term=0_f83b38c5c7-59664e6cf1-294672653

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