Iran ready to supply China with energy

Mar 17, 2002 01:00 AM

Vice-President and Head of the Management and Planning Organization (MPO) Mohammad Sattarifar said on March 17 that Iran, a country with sustainable energy resources, can supply China with energy. Sattarifar told the 11th Tehran-Beijing Joint Economic Commission meeting that Iran is for China's contribution to its oil and gas projects.
He said given China's membership at the World Trade Organization (WTO), Iran seeks necessary measures to devise preferential tariffs for Iranian goods. He said that an accord between Iran and China in the fields of tourism and recreation is essential.
The Iranian official said a project for construction of Seymareh Dam by the Energy Ministry requires $ 250 mm . He said China will undertake 70 % of the amount once a protocol to the effect is signed by Chinese officials. He added that Iranian companies insist on the quality and timely fulfilment of commitments by the Chinese party.
Iran plans to build 12 more steam power plants, said the official, adding that satisfaction with the projects China has so far implemented will ensure continued cooperation in future. An article of association, recently agreed upon, commissions state-run companies to cooperate with foreign companies provided that 51 % of the revenue gained out of the cooperation will go to the Iranian side, said Sattarifar.
He said extensive monetary and forex reforms are underway and measures have been adopted in the taxation and foreign investment laws to prompt expansion of cooperation between Iran and China in the Third Five-Year Economic Development Plan (2000-2005).

The head of the Chinese delegation at the meeting said oil and gas sectors constitute the most important focus of cooperation between the two countries. Strategic cooperation and conclusion of the long-term contracts for purchase of crude oil from Iran will be highly important for China, she added.
She said the Chinese president is to visit Iran in April. She added that initial agreements, reached at the 11th Tehran-Beijing commission session, will pave the way for inking protocols for mutual Moreover, she said Iran and China are to cooperate in petrochemical industries, metal foundries, highways construction and building the Tehran-Caspian Sea expressway, and train services and Imam Khomeini Airport.

She added that Iran and China can have "valuable" cooperation in building power plants and subways. She expressed confidence that Chinese experts will solve problems with the No. three power plant in Arak. Among other points for mutual cooperation has been allocation of $ 500 mm to Iran by Chinese Export-Import Bank, said the Chinese official, adding that China is ready to make $ 120 mm investment in building Samirom Dam.
The Chinese market is competitive, said the Chinese official, adding that if Iranian exporters are willing to succeed in the Chinese market, they should be active in after-sale services and good packaging.

Source: The PMA Online Power Report
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