German engineering giant Siemens said Wednesday it has signed a far-reaching agreement with Iranian group MAPNA to help modernize Iran’s energy infrastructure.

German engineering giant Siemens said Wednesday it has signed a far-reaching agreement with Iranian group MAPNA to help modernize Iran's energy infrastructure.

Siemens and MAPNA had signed a memorandum of understanding "to jointly develop the roadmap for the extension and optimization of the overall Iranian power and electrification system," the German company said in a statement.

As part of that agreement, MAPNA would acquire technological knowhow to manufacture Siemens gas turbines in Iran and the parties would cooperate to deliver more than 20 gas turbines and associated generators over the next decade.