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Norinco

Norinco

Industry: 
Construction
Country: 
China
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Sources: 

“China imported a record volume of Iranian oil last month as its condensate demand increased and as the Persian Gulf nation sought to boost crude exports. China, the world’s second-largest oil consumer, bought 3.29 million metric tons of Iranian supplies in April, or about 804,000 barrels a day, data from the General Administration of Customs in Beijing showed today. That’s almost 40 percent more than in March and the most since Jan. 2004 when Bloomberg started compiling the data. Imports averaged 1.79 million tons a month last year. Purchases have risen on an estimated 4 million tons of annual incremental demand from a petrochemicals producer in southern China and Iran’s push to sell more oil, according to ICIS-C1, a commodities researcher based in Shanghai…China Petroleum & Chemical Corp., Asia’s biggest refiner, and plants owned by China North Industries Group, a military weapons manufacturer, are the country’s leading buyers of Iranian crude, according to Sun.” (Bloomberg, “China’s Oil Imports From Iran Rise to Record on Condensates Use,” 5/21/14)

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"Two Chinese companies have been selected to build a number of railway projects in Iran. The chairman of the city council of Iran's holy city of Qom, Seyed Mohammad Atashzar, announced March 17 that China's Norinco Company has been selected to build monorail and subway projects. At the same time an announcement was made that CITIC will also build a tram project, Iran's Donya-e-Eqtesad newspaper reported on March 18. China's CITIC Company signed a memorandum of understanding with the municipality of Tabriz, the provincial capital of Iran's East Azerbaijan province. Norinco has announced its readiness to sign a $834million (€600 million) deal to implementing a subway and tramway project. Earlier, other Chinese companies had voiced their interest in launching high speed railways between Qom-Tehran and Qom-Isfahan. According to Atashzar, the Chinese company is highly capable to meet the requirements of the project. It has so far built about one thousand subway cars for Tehran's subway system. Moreover, it has established the Line No. 3 of the Tehran subway. In November 2013, Iranian parliament speaker Ali Larijani invited China to participate in Iran's high speed trains projects. After riding on Shanghai Maglev Train, Larijani urged Chinese companies to establish magnetic levitation (maglev) systems in Iran.” (Trend, “China to provide Iran with high speed trains,” 3/18/14)

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"May 15, China North Industries Corporation (NORINCO) signed the formal contract of Tehran Subway Line 4 Project with Tehran Railway Company. The total amount of this contract is 836 million US dollars. It was China's biggest international project contract to date... The international competitive bidding of the Line 4 Project of Tehran Subway began in September 2002. NORINCO, on the strength of the good reputation and experience gained from building the first Tehran subway, Line 5, from 1996 to 1999, beat many large international contractors." (Press Release from Company Website)

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