Iran, Germany’s Siemens Sign $1.6 Billion Deal
TEHRAN (Tasnim) – The Chief Executive Officer(CEO) of Siemens AG, Europe's biggest industrial group, said the German company has signed a memorandum of understanding (MoU) with Iran on transportation services.
Joe Kaeser said on Tuesday that an MoU worth 1.5 billion euros ($1.6 billion) has been inked with Iran on transportation equipment and services, AP reported.
“Iran has a lot of opportunity and this won’t be the last MoU… but we will not go head over heels in this market,” Kaeser said.
Siemens AG is a Germany-based industrial conglomerate that operates in various segments including power and gas, wind power and renewables, energy management, and mobility focusing on passenger and freight transportation solutions.
The MoU with Siemens came after the Joint Comprehensive Plan of Action (JCPOA), a lasting nuclear deal between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany), came into force on January 16.
Based on the nuclear deal, reached in July 2015, all nuclear-related anti-Iran sanctions have been removed.