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Deals worth $ 6 billion between Iran and Italy
20:03 - 11/01/2018
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Italy and Iran have signed an initial credit agreement to fund investments worth up to 5 billion euros ($ 6.02 billion) in Iran, the Italian Economy Ministry said on Thursday.
The agreement was signed between two Iranian financial institutions, the Bank of Industry and Mines, the Middle East Bank and Italy's state-owned investment arm, Italy's Investment Group, the ministry said in a statement.
The funds will be used for projects jointly implemented by Italian and Iranian companies in sectors including infrastructure, construction, oil and gas, electric power, chemicals, petrochemicals and metallurgical industries.
The statement added that the Iranian government will provide a sovereign guarantee of the value of contracts concluded
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