...
...
Next Story

Iran suspends $2.6 billion gas project

Iran's media says the country has suspended a $2.6 billion gas project with a Chinese consortium over a funding dispute.

Updated on: Sep 02, 2012 08:43 PM IST
Advertisement

Iran's media says the country has suspended a $2.6 billion gas project with a Chinese consortium over a funding dispute.

HT Image
HT Image

The semiofficial Mehr agency today quotes an unnamed official as saying the consortium failed to provide financing for a liquid natural gas plant more than three years after it signed an agreement to build it.

The report did not identify the Chinese firms' names, although the media previously identified the group as SINOC.

It said the facility was to be built within 41 months. The official said the Chinese partner could resume its job after it provided the financing.

Iran has turned to Chinese firms for its oil and gas projects in recent years, as the country has faced tightening international sanctions because of its disputed nuclear program.

 
Get the latest headlines from US news and global updates from Pakistan, Nepal, UK, Bangladesh, Russia and US Iran war Live, get all the latest headlines in one place on Hindustan Times.
Get the latest headlines from US news and global updates from Pakistan, Nepal, UK, Bangladesh, Russia and US Iran war Live, get all the latest headlines in one place on Hindustan Times.
SHARE THIS ARTICLE ON
Hindustantimes wants to start sending you push notifications. Click allow to subscribe