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January 18, 2013 11:27 pm

China Signs Major Steel Deal With Iran

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Iranian President Mahmoud Ahmadinejad with his Chinese counterpart.

WSJ – BEIJING—A large Chinese state-owned company said it signed a $712 million dollar contract to help build a steel plant in Iran, signaling that Beijing isn’t ready to join Western nations in increasing pressure on Tehran over its nuclear program.

A unit of state-owned metals giant China Nonferrous Metal Mining Group said in a statement Wednesday it will provide engineering design, equipment supply and installation, construction and training services for the Iran Butia steel plant.

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