China’s largest steel plant developer has expressed its readiness to invest and finance projects in Iran.

The Iran Mining Industries and Mines Development and Renovation Organization (IMIDRO) chairman held a meeting with China’s MCC Company president. The Chinese side proposed various solutions to alleviate Iran’s financial problems in its steel projects.

Shen Heting suggested holding negotiations with Chinese banks aimed at financing the projects, partnerships in constructing the projects or implementing the projects in a buy-back method as ways to finance the project.

IMIDRO chairman Ahmad-Ali Harati-Nik said Iran could carry out some of the steel development projects in rural regions with Chinese cooperation.