Philippines-China Investment Consortium Meeting with BIM’s Managing Director

Philippines-China Investment Consortium headed by Jose De Venecia, special envoy of Philippines President and former Chairman of the House of Representatives of the country, and Chen, Chairman of the Xianglu Petrochemical Group, met Ali Ashraf Afkhami, BIM’s Chairman and managing director in a visit to Tehran.
According to BIM’s Information Center, the cooperation and support of both contractors to accelerate the outcome of the Xianglu Petrochemical Project was discussed in this meeting.
Afkhami said, ‘Given the brilliant record of the bank's activities in the international domain, especially the effective cooperation and interaction with the Chinese delegation in the country's infrastructure projects, it is hoped that this project, like the previous ones, will be fulfilled with the support of the agreement’s both parties.’

He added,’ The financing of Tehran-Mashhad Railway Electrification Project, based on the finance contract between BIM and the Exim Bank of China is a joint project between the two countries which, if implemented, will have a significant and positive impact on the quality improvement of Iran’s railway; moreover, it has been influential in further interactions between Iran and China.’

Afkhami maintained,’ Tehran-Qom-Isfahan High Speed Rail is another contract between Iran and China with the finance worth $ 1 billion & 800 million which is running successfully.’
He continued,’ Through China's Credit Line, BIM has played a crucial role by financing infrastructure projects, such as power plants, steel, cement, petrochemicals and railroad; the outcomes of these projects are conspicuous and can be witnessed by traveling to different parts of the country.’

BIM’s chairman & managing director mentioned, ‘Thanks to the bank’s experience in constructing petrochemical and power plant projects, we can provide technical and economic recommendations on investment in Iran in the implementation of the Xianglu Petrochemical Project.’
 At the meeting, De Venecia also expressed interest in economic cooperation with our country, adding, ‘Given the brilliant BIM’s record, we need the support and cooperation of this bank.’
He emphasized cooperation in infrastructure industries such as oil and land and air transportation, and expressed hope that the level of cooperation will be improved in the aforementioned fields.

Publish Date: 2018 / 07 / 22