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Fincantieri signs agreements with Iran on shipbuilding jobs

Fincantieri signs agreements with Iran on shipbuilding jobs
Italian state-owned shipbuilder Fincantieri has announced the signing of a number of agreements with Iran in shipbuilding activities.

The agreements were signed in the presence of Italy’s prime minister Matteo Renzi and Iranian president Hassan Rouhani, after the latter’s official visit in Italy, Fincantieri announced.

The framework agreements were signed with some primary Iranian companies, and they are linked to the prior completion of several contracts worth some hundred million euros and have the potential development into joint activities.

In particular, Fincantieri has reached a cooperation and development agreement with Azim Gostaresh Hormoz Shipbuilding Industry Co (AGH), controlled by the larger Iran Shipbuilding and Offshore Industries Complex Company (ISOICO). The agreement provides for the construction of new merchant vessels and offshore units both in the field of ship repairs and conversions and in refitting activities of already operating units.

The two companies will soon establish working groups to engage in the joint actvities and further develop their businesses.

In addition, Fincantieri subsidiary Isotta Fraschini Motori has signed two further agreements concerning the marine propulsion sector and rail transports.

Isotta Fraschini Motori signed an agreement with Iran’s Arka Tejarat Qeshim (ATQ) to set up a joint proposal for the supply to Iranian Governmental User (IGU) of 600 marine engines for smaller vessels.