Japan opened a $10 billion credit line for cooperation with Iran

Almaty. November 7. Silkroadnews - Japan opened a $10 billion credit line for cooperation with Iran, the Iranian Telegraph Agency (IrTAG) reported referring to Mehr News Agency.
“Iran’s deputy energy minister said the Japanese government had created a line of credit (LOC) worth 10 billion dollars for investment in and joint venture with Iran,” the report said.
According to Houshang Falahatian, Deputy Iranian Energy Minister, the Japanese side is interested in cooperation in such areas as the construction of thermal and renewable power plants, electrical substations and equipment related to the power industry.
“If, in a timely manner and with participation of Japanese companies, common electrical equipment are manufactured domestically, exports of Iran’s engineering services and electrical goods to other countries, especially neighboring countries, will naturally increase,” the agency quoted him saying.
He also stressed that such cooperation will lead to the creation of new jobs and expand access to new technologies to create more efficient equipment.