Iran and Italy signed a 17 billion euros agreement

industry

On Monday Iran and Italy signed a bilateral agreement in the amount of nearly 17 billion euros during the visit of Iranian President Hassan Rouhani to Rome, reports BBC.

The agreement is related to energy industry and infrastructure.

In particular, the Italian oil services company Saipem that was building the “Nord Stream 1” and the “Blue Stream” pipelines, signed a letter of intent with Parsian Oil & Gas Development Co. for major oil and gas projects in Iran. Saipem, which is controlled by Eni and the Italian state fund FSI, will upgrade and expand refineries in Tabriz and Shiraz in southern Iran.

After the signing ceremony Rouhani had dinner with Italian Prime Minister Matteo Renzi at the Capitol.

On Tuesday Rouhani will meet with Pope Francis in Vatican. On Wednesday he will travel to Paris, where he will sign a major deal with Airbus to buy more than 100 aircrafts for Iran.

The Iranian delegation consists of 120 people, there are members of the government and major businessmen among them.

The European tour of the Iranian President will last 5 days. It is intended to restore ties with the West after the lifting of international sanctions to Iran.

On Saturday, during the Chinese leader Xi Jinping’s visit to Iran, Beijing and Tehran signed 17 agreements in various fields, intended to increase the trade turnover between the two countries to $600 billion per year.

Source: Interfax