Iran says China seeks to invest in refinery sector

Thu Jul 22, 2010 1:21pm GMT
 

* Wants to show sanctions have not stopped foreign investors

* Warns to blacklist companies pulling out on sanctions

TEHRAN, July 22 (Reuters) - China seeks to finance development of Iran's refinery industry, an Iranian official was quoted on Thursday as saying, trying to show sanctions have not stopped foreign investment in the Islamic state's energy sector.

"Some Chinese companies want to finance development of Iran's refineries and also to get involved in developing our gas projects," said deputy Oil Minister Alireza Zeighami, state television reported.

He did not specify names of the Chinese companies.

"The two countries are in talks on China's investment in Iran's gasoline production projects ... including development of Iran's Isfahan and Abadan refineries," the official said.

Sanctions imposed on Iran by the United States and U.N. have forced western companies to stay away from investing in the Islamic state's gas and oil sector.

The United States and its European allies fear Iran is trying to develop nuclear bombs under cover of a civilian programme.   Continued...

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