(MENAFN) Engineering unit of Italy's industrial group Finmeccanica, Fata, signed a contract worth USD54 million with Ghadir Investment Company to establish a power plant in Iran.
The deal was signed during Italian Foreign Minister to Iran at the head of a delegation of government officials and business leaders, according to a spokesman for the Italian firm.
During the visit, Italy agreed to provide funding and insurance coverage for industrial, construction and infrastructure projects worth at least USD3.28 billion in the Persian country.
"By the next three years, a credit line of at least 3 billion euros will be opened for the implementation of important projects in Iran," Italy's Economic Development Minister said in a statement.
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