Iran, Italy ink multiple economic deals in diverse areas

Iranian and Italian companies signed 12 agreements in various sectors of economy on Wednesday during the visit of Italian Prime Minister Matteo Renzi to Iran, Press TV reported.

The agreements, inked in the presence of Iranian Minister of Industry, Mine and Trade Mohammad-Reza Nematzadeh and Italian Prime Minister Matteo Renzi, include fields of energy, construction, power generation, information and communication technologies as well as steel and textile sectors, according to the report.

Among the deals, Italy's FATA SPA signed a 237-million-U.S. dollar contract with Iran's Foulad Boutia on the transfer of equipment and services for the construction of a power plant in Iran's southern province of Kerman.

The Iranian company also sealed a deal worth of 350 million euros (about 395 million dollars) with Italy's Danieli Group on the transfer of industrial equipment and services for the construction of a steel company in Iran.

Meanwhile, Iran's telecommunication company struck an accord with Italy's ITALTEL for the development of telecommunication network in the country.

Besides, the Italian engineering and project management company, BELLELI Group, reached an agreement with Iran's Jahan Pars Group on providing Engineering, Procurement and Construction (EPC) services in the areas of infrastructure and energy.

Renzi told the participants in the ceremony that Italy seeks a boost in bilateral relations with Iran, calling for the effective implementation of the projects.

On Tuesday, Iran and Italy inked seven memorandums of understanding (MoUs) to elevate bilateral ties in diverse areas.

The documents were set to help both countries expand their cooperation in science and technology, tourism, environment, energy and railway sectors.

Heading a high ranking delegation of 250 commercial and economic officials, Renzi arrived in capital Tehran on Tuesday for a two-day visit. Endit