Nah, any progress by these arabs is pooshAly and superficial. It probably was built by Japanese, and Iran had to take out loans from Japan to do it so for next 20 or 25 years Iran has to pay the interest. That's retarded.
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Following the Islamic Revolution, Japan sent a special representative to discuss expansion of ties. During the war with Iraq, Japan repeatedly tried to act as an intermediary for peace but the opportunity never arose. For the last four decades Iran and Japan have kept up relations which have been mainly economic, particularly export of oil from Iran to Japan and automotives, photographic and electronic products from Japan to Iran. Iran supplies 10% of Japan's crude oil requirements. Further, Japan invested in pre-revolution Iran, and helped set up many assembly plants for production of household appliances. Two immense projects were underway as joint ventures when the war with Iraq broke out: the petrochemical project at Bandar Imam Khomeini (ex Bandar Shapour) and the Karoon Dam project. Since Japan and Islamic Republic could not then come to terms, Japan decided to abandon both projects. Continued negotiations, however, resulted in Japan's agreeing, in 1993, to pay the first part of the loan for building Karoon Dam: some 38.6 billion yens. This payment was made but Japan, under US pressure, refused to pay the following installments.
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Just before Khatami's visit to Japan, documents and MOU's regarding the payment of about 7.5 million yens, as the second part of payments towards 4th Karoon Dam, were exchanged between the foreign ministries of the two countries. This loan is subject to 2.2% interest payable within 25 years from the date of completion of the project which is expected to take 7 years.
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