Germany and China opens up LOC for Iran aluminium plant

As per IRNA report, Germany and China opens up line of credit for the development of aluminium plant in Jajarm city, northern Khorasan province, Iran. Mehdi Karbasian, Deputy Minister of Industry, Mine and trade announced on Wednesday that these two countries opened credit line after signing an agreement to invest in graphite electrode in Ardakan city as well.


Karbasian added that after the enactment of Joint Comprehensive Plan of Action (JCPOA), worldwide companies have started forming joint ventures with the Iranian partners in the country’s mine sector. Since 10 to 12 years ago a technical gap was created in Iran’s mine sector; it was then that many mining international companies had detached themselves from the Iranian partnerships.

He further explained that aluminium plant project was secured after signing a contract worth 46 million euros with the Chinese company for two years credit at zero interest rate.

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He further emphasized that a Norwegian advisor is being hired for the project as foreign advisors are permitted in the field of environment in Mehdiabad Zink Mine, Yazd province, and Zarshouran Gold Mine in West Azerbaijan province.

According to Karbasian, negotiation between Iran and China for projects worth 20 billion euros has been underway for the past three years, of which 4 billion was targeted only for the mining industry.