March 9, 2017 / 3:27 PM / in 5 months

Linde revives Iran contracts, waits for banking system

1 Min Read

FRANKFURT (Reuters) - German industrial gases group Linde (LING.DE) has revived plant-engineering contracts in Iran that lay dormant for years under sanctions but cannot act on them until there is a way to transfer money out of the country, its chief executive said.

"We have already signed engineering contracts to resuscitate projects from years ago but the banking system has to be fixed first before we can start performing on these contracts," Aldo Belloni told analysts on a conference call on Thursday.

Reporting by Georgina Prodhan; Editing by Arno Schuetze

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