Italy's Danieli Signs EUR5.7 Billion in Agreements with Iran Companies
January 25 2016 - 11:38AM
Dow Jones News
By Liam Moloney
ROME--Italian steel maker Danieli (DAN.MI) said Monday it has
signed commercial agreements worth about EUR5.7 billion ($6.2
billion) with Iran as part of President Hassan Rouhani's visit to
Rome.
Danieli said it has signed contracts worth around EUR3.7 billion
with Iranian companies to sell machinery and equipment for steel
and aluminum installations in the country.
The deals also include a joint venture, called Persian Metallic,
worth EUR2 billion and comprising Iranian and unnamed international
investors.
Italian media reported that oil services company Saipem will
also announce a multi-billion euro contract with Iran as part of
Mr. Rouhani's visit.
Saipem will announce a "large" contract with Iran, said a person
familiar with the matter. The company wasn't immediately available
to comment.
Mr. Rouhani arrived in Italy on Monday, the first stop in a
European trip aimed at re-establishing political and business
relations after broad economic sanctions against Iran were
lifted.
Write to Liam Moloney at liam.moloney@wsj.com
(END) Dow Jones Newswires
January 25, 2016 11:23 ET (16:23 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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