January 26, 2016

IT'S A TRADE DEAL:

Iranian president does big business in Europe (Jim Boulden, 1/26/16, CNNMoney)

Hassan Rouhani landed in Italy on Monday and within hours was striking agreements worth billions of dollars to modernize Iran's infrastructure.

Saipem (SAPMY) was one of the first companies out of the gate, signing a Memorandum of Understanding with the Parsian Oil & Gas Development Company.

Saipem said the agreement covered "potential cooperation in revamping and upgrading the Pars Shiraz and Tabriz [oil] refineries."

Danieli (DNIYY) said it signed agreements worth 5.7 billion euros ($6 billion) to supply heavy machinery and equipment to Iran.

These deals are among the 14 contracts, MOUs and cooperation agreements signed in Rome on Monday, according to Iran's state news agency IRNA.

Further deals worth more than $18 billion were expected on Tuesday, IRNA reported. [...]

Similar deals are expected to be unveiled in Paris on Thursday when Rouhani meets with French President Francois Hollande and business leaders.

A deal for Iran to buy more than 100 aircraft from Airbus (EADSF) is widely expected to be signed in Paris.

Posted by at January 26, 2016 4:06 PM

  

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