Sabalan and Sadaf petrochemical plants are being financed by Chinese banks. China has already funded four petrochemical projects.

Abbas Sheri-Moqaddam, manager of National Petrochemical Company, recently said that Bushehr, Lordegan, Hangam and Gachsaran petrochemical plants have been financed by China.

Iran’s President Hassan Rouhani is currently in Shanghai to attend a major summit of Asian countries.

Petroleum Minister Bijan Namdar Zanganeh is accompanying the president.

Iranian and Chinese officials are expected to discuss energy cooperation on the sidelines of this summit.