Iran signs a deal worth $615 million — or 550 million euros — with a Spanish-Iranian consortium under which the group will provide pipes used in Iran’s oil industry.
The consortium, which includes Spain’s Tubacex S.A. and Iran’s Foolad Isfahan Company, will produce pipes made of a corrosion resistant alloy for a network of 600 kilometers, or about 370 miles, over three years.
At a ceremony marking the signing, Iran’s Oil Minister Bijan Zanganeh says he is “delighted that a deal worth more than 550 million euros is being signed.”
“I think it is the biggest tender we have had in this industry for a lot of years,” said Antonio Rafael, deputy CEO of Tubacex. “It is very professionally managed.”
It was the first major deal for Iran’s oil industry since President Hassan Rouhani’s re-election last week to another term in office on a platform of reform and greater openness to the international community.
— AP
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