Bank to offer Iranian company buyer's credit for export deal
( 2003-08-09 09:07) (Xinhua)
The Industrial and Commercial Bank of China Shanghai Branch will provide an
Iranian passenger transport company with US$84.46 million worth of buyer's
credit for an export deal.
An agreement on the deal was signed Wednesday between representatives of the
bank and the State Bank of Iran.
Under the agreement, Raja, a state-owned railway company operated by the
state railways administration of Iran, will use the credit to import 150
first-class carriages and 25 generator cars from China for its construction of a
railway hub in the Middle East.
It was the third time the Chinese bank had provided financial support to
China-Iran projects.
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