Siemens wants re-involve in Iran’s infrastructure projects

Business Materials 26 January 2016 17:52 (UTC +04:00)

Baku, Azerbaijan, Jan. 26

By Umid Niayesh- Trend:

Siemens welcomes the end of key sanctions and the expected opening of the Iranian market, with its some 80 million residents, Yashar Azad, a spokesman with Siemens told Trend Jan. 26.

"Our history in Iran dates back until 1868 and we'll now be stepping up our efforts toward continuing this long tradition," he said.

"We want to support Iran in the future development of its infrastructure. As you know, an initial memorandum of understanding has already been signed in the railway sector."

Iran's Railways and Siemens signed a memorandum of understanding (MoU) for cooperation in various fields early in January. Based on the agreement the parties will cooperate in electrification project of Tehran-Mashhad railroad, construction of Tehran-Isfahan high-speed railway, providing and maintenance of 500 passenger train coaches, as well as updating railway systems of the Islamic Republic, according to Iranian media outlets.

Azad further said that in the past, Siemens played an important role in Iran, especially in the energy sector and in rail transportation.

"We want to pick up where we left off in those areas - but always only within the permissible legal framework, of course. We see great pent-up demand. This is especially the case when it comes to infrastructure projects in the oil, gas and petrochemicals industries and in the generation and distribution of electricity, but also in the areas of rail transportation and healthcare," the spokesman said, adding modernizing infrastructure will raise living standards in Iran and Siemens wants to encourage that.

Iran's economy was stifled by the 12-year-old sanctions, which were lifted on Jan. 16 according to the nuclear deal between Iran and the P5+1 (the US, the UK, France, Russia, China, and Germany).

On Jan. 26 Ali Akbar Shabanpour Pars Oil and Gas Company CEO said that following the implementation of the Iran nuclear deal a number of European countries have freed frozen equipment that belong to Iran's South Pars gas field.

A number of Siemens's turbo compressors which had been stuck in the UAE under sanctions are now free and will be transferred to Iran soon, Shabanpour added.