China to invest US$400 bln over 5 years partly to develop Iran’s oil, gas and petrochem sectors

Plans of China planning to invest US$400 have been revealed. Out of this, US$280 billion could be towards developing Iran’s oil, gas and petrochemicals sectors over the next five years. US$120 billion is expected to be invested in upgrading Iran’s transport and manufacturing infrastructure.
The Chinese, in exchange, will be able to buy Iranian oil, gas and petrochemical products at a guaranteed discount of at least 12% and will get the first refusal on Iranian fossil fuel projects. Beijing will be able to deploy 5,000 security personnel in Iran to secure investments and guard supply lines, including in the Persian Gulf.

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