As per media report, 5,000 Chinese security personnel deployed on the ground in Iran are expected to guard $280 billion worth of new investment from Beijing in the oil, gas and petrochemical sector of Iran , claims a report link published by the United-Kingdom based publication *Petroleum Economist*.
The strategic partnership between the two countries comes as they become increasingly wary of the United States. China is currently involved in an escalating trade war with the US, while Iran has clashed with the US government over a controversial nuclear deal.
According to the details of the agreement, which was finalised when Iranian Foreign MinisterMohammad Zarif paid a visit to his Chinese counterpart Wang Li at the end of August, China will also invest an additional $120 billion in the transport sector of Iran as part of the deal.
The agreement is reminiscent of the China Pakistan Economic Corridor deal, in which China invested billions of dollars into the Pakistani energy, transport, and other sectors to boost the fledgling economy of the country under the Belt and Road Initiative of Chinese President Xi Jinping.