Iran, Italy sign MOUs on oil, gas, transportation

Iran and Italy signed a number of Memorandums of Understanding (MOUs) for cooperation in areas of energy, transportation and trade expos.

The documents were signed on Tuesday during the second meeting of Italian and Iranian industrialists at Tehran’s Espinas International Hotel, according to Press TV.

The second meeting of Italian and Iranian industrialists was held at Tehran’s Espinas International Hotel on Teusday (Photo credit: IRNA)

Business officials from the two sides signed MOUs in areas of oil and natural gas, railway transportation and after-sale services, IRNA reported.

The gathering comes after the recent visit by Iran’s President Hassan Rouhani to Italy, where the two countries signed multi-billion dollar contracts, worth up to 17 billion euros (USD 18.4 billion), covering various sectors including health, transportation, agriculture and energy.

The second meeting of Italian and Iranian industrialists was held at Tehran’s Espinas International Hotel on Teusday (Photo credit: IRNA)

President Rouhani said in Rome that Iran welcomes foreign investment and seeks to expand economic ties with Italy.

It was 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 January 25 deals.

The second meeting of Italian and Iranian industrialists was held at Tehran’s Espinas International Hotel on Teusday (Photo credit: IRNA)

Moreover, Italian steel firm Danieli said it would sign commercial agreements worth up to 5.7 billion euros (USD 6.1 billion) with Iran.

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

The second meeting of Italian and Iranian industrialists was held at Tehran’s Espinas International Hotel on Teusday (Photo credit: IRNA)

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