Publication Date:
Tue, 2011-07-19 18:55
"The $4 billion financing contract will be signed with China tonight," said Mohammad Royanian, head of Iran's Transport and Fuel Management Office.
He gave no other details.
China, the second biggest importer of Iranian oil after Japan, has long been involved in infrastructure projects in Iran where economic sanctions have hampered investment by Western companies.
Iran said in February that China had signed a $13 billion contract to build a railway network in the Islamic state.
Trade between the two countries is worth around $30 billion per year. President Mahmoud Ahmadinejad has said he hopes to increase the volume of trade to $100 billion.
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