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Monday, January 25, 2016

China Deepens Its Footprint in Iran After Lifting of Sanctions

Sanctions against Iran failed to halt the construction of the complex, a steel mill that went into operation in September and now churns out ingots and billets. The sanctions also did not stop Sheng Kuan Li, a Chinese businessman, from pouring $200 million into the project.

The deep Chinese footprint in Iran does not manifest itself only in the tens of thousands of inexpensive cars that have flooded the streets of Tehran in the past few years. Investors like Mr. Li, who has built two other factories here, as well as Chinese state companies, are active all over the country, building highways, digging mines and melting steel. (Read More)