TEHRAN Chinese investors are prepared to fund the construction of combined-cycle power plants in Irans energy-rich Khuzestan province to help address the countrys energy imbalance and boost regional economic development, a Shanghai Cooperation Organization (SCO) representative said on Thursday.Zhao Bin He, the Executive Director of SCOs Iran Office, made the remarks during a meeting with Khuzestans governor and local religious leaders.
We are here to pay our respects to provincial authorities and outline Chinas plans for strengthening economic and trade ties, with a particular focus on Khuzestan, Zhao said.He highlighted the historical and enduring relationship between Iran and China, describing it as built on mutual respect, economic cooperation, and cultural exchange.Khuzestans strategic position in southwest Iran and its vast economic potential make it a key player in enhancing Iran-China relations, Zhao added.
With access to the Persian Gulf and proximity to strong regional economies, Khuzestan offers exceptional opportunities for port infrastructure development and maritime transport.Zhao reiterated Chinas readiness to actively participate in developing Khuzestans infrastructure, expanding port capacity, and exploring joint projects in energy, industry, and agriculture.We are also open to collaborating on sports infrastructure development in the province, he added.
Despite sanctions, Iran has achieved remarkable progress in scientific, economic, and political arenas, reflecting the determination and capabilities of its people.Iran and China have strengthened their economic relations in recent years, particularly through the 25-year Comprehensive Strategic Partnership Agreement signed in 2021.
The deal includes cooperation in areas such as energy, infrastructure, transportation, technology, and trade, with China committed to investing billions of dollars in Irans key sectors.China remains Iran's largest trading partner, with bilateral trade exceeding $14 billion in 2023.
Iran exports crude oil, petrochemicals, and minerals to China, while importing industrial machinery, electronics, and consumer goods.
Additionally, both countries are partners in major international frameworks, including the Shanghai Cooperation Organization (SCO) and Chinas Belt and Road Initiative (BRI), which aim to enhance regional connectivity and infrastructure development.The energy sector plays a pivotal role in Iran-China cooperation, with Chinese firms involved in developing Irans oil and gas fields, as well as power generation projects.
Zhaos announcement of investment plans in Khuzestan aligns with Chinas broader strategy to strengthen its presence in the Middle East and help address Irans energy needs.As Iran seeks to attract foreign investment despite international sanctions, cooperation with China provides a vital lifeline for its economic growth and infrastructure development.EF/MA