Italy's Danieli Signs EUR5.7 Billion in Agreements with Iran Companies

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 [e-mail]

(END) Dow Jones Newswires

January 25, 2016 11:23 ET (16:23 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.