Iran said on Friday that it has awarded a deal to the French engineering giant Fives Group to set up a major aluminum project in the country.

The deal, whose value is estimated to be above $400 million, has been signed with the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).

Based on it, Fives will establish an aluminum production plant in Iran through the framework of Engineering, Procurement, Construction and Financing (EPCF).

Based on the deal with IMIDRO, Fives will increase Iran’s production of aluminum anodes by 450,000 tons in a year. No further details on the deal have come out to the media.

Fives, an industrial engineering Group, designs and supplies machines, process equipment and production lines for the world’s largest industrial groups including the aluminum, steel, glass, automotive, aerospace, logistics, cement and energy sectors.

Iran’s media reported last November that Fives has signed a basic agreement over the same project with IMIDRO in Tehran and that the agreement will be finalized during the state visit to Paris by Iran’s President Hassan Rouhani.

Rouhani and his French peer François Hollande oversaw the signing of 20 cooperation agreements – most of them trade deal – on Thursday. The agreements were signed after the Iranian president arrived in Paris for a historic two-day visit. They included a major Airbus purchase deal, a car production deal with Peugeot and an oil cooperation agreement with Total.

Before landing in Paris on Wednesday, Rouhani visited Italy for three days where he also signed a wide range of agreements over cooperation in various sectors.

By Press TV