Envoy: Germany Willing to Invest €3bln in Iran

Envoy: Germany Willing to Invest €3bln in Iran

"A sum of three billion euros of investments will be made in Iran through a consortium comprising six German banks," Majedi said on Sunday.

Majedi underlined that the related agreements will be signed during an upcoming visit to Tehran by the German Vice Chancellor and Economy Minister Sigmar Gabriel.

"Iran and Germany have over the past months devised fast track economic cooperation plans and those plans include the development of power plants and generation of electricity," he added.

Majedi said that a recent agreement that Germany’s Siemens signed with Iran’s MAPNA Group to transfer the technology of gas-powered turbines is an example of such plans.

"Others concern producing electric and diesel locomotives as well as train cars and providing the signaling systems for Tehran-Isfahan - and probably Tehran-Mashhad – tracks," the Iranian envoy said.

Majedi also underlined that Germany’s Volkswagen plans to transfer the technology to Iran to produce two of its models, and said it will be part of the same fast track plans devised by the two countries.

Gabriel is expected to arrive in Tehran on Sunday evening heading a major business delegation.

The German economy has announced that a German-Iranian economic commission will convene for the first time in 15 years during his stay in the country, emphasizing that concrete business deals will also be announced.

The German economy minister was one of the first high-ranking foreign officials to visit Iran immediately after a series of economic sanctions against the country were lifted in January.

He canceled a scheduled trip to Iran to attend a meeting of Iran-Germany Economic Commission for the first time in 15 years early May, citing poor health.

Refrence:Fars