World Tribune.com

China building supertankers for Iran

SPECIAL TO WORLD TRIBUNE.COM
Monday, August 21, 2000

TOKYO -- China has made inroads in a major market in Iran -- that of oil supertankers.

Beijing has won a huge contract for five supertankers and has begun building the first of the 300,000-ton vessel.

The Dalian New Shipyard Heavy Industry Co. will build the ships in the northeastern port of Dalian, the official Chinese news agency, Xinhua, reported . The company won the $370 million contract a year ago.

Industry analysts said the Chinese contract breaks the Japanese and South Korean hold of the supertanker market.

Beijing is also a major contractor in Iranian defense projects. These include missiles and nonconventional weapons.

China and Iran have been expanding their industrial cooperation since the visit of President Mohammed Khatami earlier this year. In another deal, the Steel Mill Company of Iran has signed an accord with the Chinese CMIC to buy $3.2 million worth of technology for the steel mill.

The agreement requires that CMIC provide the technology within two years. The Iranian steel mill will begin operations in 2003 and officials said it will have an annual output of 70,000 tons.

On Tuesday, Iranian and South African officials launch cooperation talks in Pretoria. The bilateral commission will be headed by the foreign ministers of the two countries and will discuss cooperation in science, technology, trade, investment, and shipping.

Earlier, Syrian President Bashar Assad endorsed an agreement that avoids double taxation in transactions between Iran and Syria.

Monday, August 21, 2000

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