Roundup: Iran, Italy take major steps to boost economic cooperation

Iran and Italy signed further agreements during Italian Prime Minister Matteo Renzi's current visit to Iran to expand economic cooperation.

On Wednesday, Iranian and Italian companies inked 12 agreements in the presence of Iranian Minister of Industry, Mine and Trade Mohammad-Reza Nematzadeh and Italian Renzi, to cooperate in energy, construction, power generation, information and communication technologies as well as steel and textile sectors, according to Press TV.

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 clinched 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 telecommunications company struck an accord with Italy's ITALTEL for the development of telecommunications network in the country.

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

According to Iran's Petro Energy Information Network (SHANA) report on Wednesday, the Italian energy giant Enel, the manufacturer and distributor of electricity and gas, also signed a memorandum of understanding (MoU) with National Iranian Gas Exports Company (NIGEC) for buying natural gas and liquefied natural gas (LNG) from Iran.

The MoU is the outcome of several months of talks with the Italian side for initiating cooperation in the gas market and studying opportunities for long-term supply of natural gas and LNG to Enel.

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

On Tuesday, Iran and Italy also inked seven MoUs to elevate bilateral ties in diverse areas.

The documents, signed in the presence of Iran's President Hassan Rouhani and Italian Renzi, were set to help both countries expand their cooperation in science and technology, tourism, environment, energy and railway sectors.

Iran's Deputy Energy Minister for Planning and Economic Affairs Alireza Da'emi said Tuesday, with reference to the agreements, that Tehran and Rome would construct 500 megawatts (MW) of renewable energy power plants in Iran.

The planned projects would be completed in the coming five years by the Italian investing companies, Da'emi was quoted as saying by Tehran Times daily.

In a joint press conference, Rouhani and Renzi agreed that they should promote comprehensive cooperation in economic, scientific, political and cultural areas.

Rouhani drew upon the importance of Italy for Iran, saying that he paid his first European visit to Italy following the nuclear agreement between Iran and the world powers.

Renzi's ongoing visit also bore the clear message of both countries' resolve to expand all-out ties, Rouhani said.

Iran and Italy had recently signed over 30 cooperation agreements which should be put into practice, he said, adding that carrying out these deals could pave the way for better bilateral ties, particularly in economy, investment and technology.

The Italian leader said that the visit was significant, during which the Italian financial experts would discuss banking issues with their Iranian partners to facilitate sustained economic ties.

Meanwhile, Both Rouhani and Renzi stressed the fight against violence and extremism, and the Italian premier said "I agree that one effective means in this regard is cultural work."

The meeting also touched on a series of regional crises and the ways to settle them as well as the refugee crisis concerning the European countries.

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