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Iran, Siemens reach preliminary agreement to jointly produce electricity parts

Xinhua, March 5, 2017 Adjust font size:

Iran and German's Siemens have reached a preliminary agreement to jointly manufacture equipment for electricity industry in Iran, semi-official Mehr news agency quoted an Iranian official as saying on Saturday.

"During a visit to Germany, an Iranian delegation signed a contract with Siemens under which a plant will be built for manufacturing power equipment under the license of the German firm," Arsalan Fathipour, the official from Iran Electricity Industry Syndicate, said.

The agreement with the German company also encompasses the transfer of know-how as well as construction of new equipment for power generation industry, he said.

Besides, collaboration with Siemens is aimed at reducing costs and boost of the export of electricity equipment, he added.

The official said that the plant will be built in Parand, a town about 65 kilometers southwest of Tehran. Endit