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FINANCIAL NEWS
Lebanon signs $450m agreement with Iran
11 Oct 2010
(MENAFN) Lebanese Minister of Energy and Water Jibran Bassil and his Iranian counterpart Majid Namjou signed a landmark agreement in Beirut under which Iran will invest $450 million in Lebanon’s water and energy sectors, Mehr news agency reported.
Iran has expressed its readiness to help boost Lebanon’s economy by undertaking dam construction projects, helping the country with oil and gas explorations and exporting oil and gas derivatives.
Iranian President Ahmadinejad is scheduled to pay an official visit to Lebanon in October. It would be the first such trip since he took office in 2005.
During the Iranian president’s two-day visit to the Middle East country, Iran and Lebanon plan to sign two Memoranda of Understanding on oil and gas projects.
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