Sinosure (China Export and Credit Insurance Corporation)

Financial Services
China

"'The first phase of the 1.3-billion-dollar line of credit has been officially opened by a Chinese firm for the project to develop and optimize Abadan Refinery,' Kazzemi said. He said that the finance for Abadan oil refinery project had been supplied by China Export & Credit Insurance Corporation (commonly known as Sinosure), adding, 'The project mainly aims to lower fuel oil output and boost production of more valuable production like gasoline and gas oil.' He reiterated that the two phases of the development project in Abadan Refinery would demand an aggregate total of $3 billion of investment, and said, "Iran enjoys 15 percent of the share in the project while the rest of the share will be supplied by Chinese financers." (Fars News Agency, "China Opens $1.3 bln Credit Line to Finance Iran's Energy Project," 1/10/2017).

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“Chairman of the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) Mehdi Karbasian met with senior directors of Chinese companies MCC Group, China Public Insurance Company (Sinosure) and MCC – CERI which are involved in seven provincial steel projects in Iran.” (IRNA, "IMIDRO, China agree to accelerate provincial steel projects," 12/16/2014)