Italy's state railway company, Ferrovie, will sign a memorandum of understanding, worth €1.2 billion, with the Islamic Republic of Iran Railways (IRIR).
The MoU, which involves the constructing Qom–Arak high speed railway line in Iran, is to be signed in Tehran on July 11.
Ferrovie Chief Executive Officer Renato Mazzoncini and IRIR Managing Director Saeid Mohammadzadeh will sign the agreement, which includes building the infrastructure as well as supplying high speed trains for Iran.
The Italian company will also be responsible for holding technical courses for IRIR personnel.
The two sides had signed an initial agreement in this respect in April 2017.
Italy was the first trade partner of Iran among the European Union member states, during the first three months of 2017, according to European Union's statistics agency, Eurostat.
Trade between Iran and Italy in the said period reached €1.2 billion, with €800 million pertaining to Iran's exports to Italy and €400 million to its imports from that country.
Italy was the first trade partner of Iran while France and Germany came second and third respectively.
