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Tuesday, January 26, 2016

Iran, Italy sign up to $18.4bn contracts.

Iran, Italy sign up to $18.4bn contracts. (Taz).

Iran and Italy have signed multi-billion dollar contracts covering various sectors including health, transportation, agriculture and energy, Press TV reported.

The contracts, worth up to 17 billion euros (USD 18.4 billion), were signed in a ceremony attended by Iranian President Hassan Rouhani and his Italian counterpart Sergio Mattarella in Rome on Monday night.

The Iranian president arrived in Italy on Monday on the first leg of his trip to three European destinations following the implementation of a nuclear agreement between Tehran and the P5+1 group of countries.

Rouhani flew into Rome at the head of a delegation of more than 100 businessmen and ministers. He will meet Italian Prime Minister Matteo Renzi and Pope Francis during his two-day stay before traveling to France on Wednesday.

Italy has traditionally had close economic ties with Tehran and no sooner had Rouhani's plane touched down in Rome, than a government source said Italian firms were poised to sign commercial accords worth between 15 billion to 17 billion euros.

These included a deal for Italian oil services group Saipem  for a 2,000 km (1,240 miles) pipeline worth between $4 billion and $5 billion, a source with knowledge of the matter said. Saipem was not immediately available for a comment.

Prior to the ceremony, Reuters reported that a pipeline contract worth between 3.6-4.6 billion euros (USD 4-5 billion) for Italian oil services group Saipem was among the deals.

Infrastructure firm Condotte d'Acqua was also scheduled to sign deals worth up to four billion euros (USD 4.3 billion).

In addition, Italian steel firm Danieli  will sign commercial agreements worth up to $5.7 billion with Iran, a company spokesman said. These accords will include a joint venture, to be called Persian Metallics, with other international investors, worth $2 billion.

Rouhani is due to address a conference of entrepreneurs and industrial leaders in Rome on Tuesday.
Iran demonstrated its hunger for Western goods at an aviation conference in Tehran on Sunday, announcing plans to buy more than 160 European planes, including eight superjumbos from Airbus , and holding up the prospect of a major order for U.S. company Boeing. Hmmm......what happened to 'Thirty pieces of Silver' ?

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