(ANSA) - Rome, January 11 - Italy's Invitalia Global Investment and the Iranian banks Bank of Industry and Mines and Middle East Bank on Thursday signed a Master Credit Agreement setting terms and conditions for future investment contracts worth up to five billion euros. The contracts will span the sectors of energy, infrastructure, chemicals, petrochemicals and metallurgic, the two sides said. The contracts will be covered by a sovereign guarantee issued by the Iranian government, the parties said. Economy Minister Pier Carlo Padoan and Iranian Deputy Economy Minister Mohammad Khazaee hailed the deal.
Khazaee is also head of the Organization for Investment, Economic and Technical Assistance of Iran (OIETAI).
Italy-Iran investment 5 bn accord signed
Between Invitalia Investment and Iranian banks