S. Korea to allocate 13 bln USD of credit line for energy investments in Iran

Source: Xinhua| 2017-06-15 20:46:07|Editor: Zhang Dongmiao
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TEHRAN, June 15 (Xinhua) -- Iran's Finance Minister Ali Tayyebniya will visit Seoul soon to finalize talks over credit line of 13 billion U.S. dollars from South Korea for Iran's several energy projects, Press TV reported.

The negotiations to receive the credit line are almost in its final stages, the report said.

The Korea Eximbank would provide the loan share of 8 billion dollars, and another share of 5 billion dollars would be provided by Korea Trade Insurance Corporation.

The loan will be used for the projects already approved by Tehran and Soul, including the renovation of Isfahan Refinery and the construction of Siraf condensate refineries. A certain portion would also be allocated for producing ethane in South Pars Phase 12.

On Monday, visiting Austria's Federal Minister of Finance Hans Jorg Schelling also said that Austria's Oberbank would grant 1 billion euros (about 1.12 billion dollars) of credit line for financing investment projects in Iran.