Iran Cancels $2 Billion USD Dam Contract With China

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TEHRAN, Iran

The Iranian government announced this week that its central bank had not accepted the financial terms set by China’s Sinohyrdo Corp. for the contract to build the Bakhtiari Dam in southwestern Iran.

Iranian Energy Minister Majid Namjou said that the contract would be awarded to Khatam al-Anbiya, a unit of the Iranian Revolutionary Guard Corps, instead.