LONDON - Nearly 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 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 Minister Mohammad 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. Petroleum Economist claims that China will invest the money into Iran initially over two five-year periods, and Chinese firms will get the right of first refusal over new energy projects in Iran under the strategic agreement. The wider deal between Tehran and Beijing is built over a staggered 25 year period. China intends to utilise the low cost labour available in Iran to build factories, designed and overseen by large Chinese manufacturing companies.