Code: 361837 A

Italy's Vitali SPA will construct a new terminal for Tabriz International Airport, northwestern Iran, the Iranian Airports Holding Company (IAC) said.

The IAC and Vital signed the document for investment, design and construction of the new airport terminal during the second Iran-Italy trade meeting April 13, in Tehran, the official website of the IAC reported.

The estimated value for the construction of the terminal is 50 million euro.

The terminal will be built in two phases and will have the reception capacity for passengers of one wide-body and two average-body aircrafts at the same time. The first phase of the terminal will be constructed in an area of 20,000 square meters.

Iran and Italy also signed a memorandum of understanding on technology transfer for restructuring and modernization of airport infrastructures of Iran.

Italy's SEA group also has signed a Memorandum of Understanding with IAC for the development project of Mehrabad International Airport in Tehran.

It should be noted that Italian PM Matteo Renzi, heading a 250-member political and economic delegation, visited Tehran on Apr. 12 to discuss the expansion of ties.

The two parties signed several documents on cooperation in various sectors of energy, steel, communication, aviation, airports and medical.

The annual volume of trade turnover between the two countries amounted to 7.5 billion euros, prior to sanctions being imposed on Iran in 2012, which dropped to 1.4 billion euros after the sanctions.

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