Iran is set to finalise a contract with ATR, a joint venture of Airbus and Finmeccanica of Italy, on the purchase of 20 short-haul aircraft, an Iranian official said.

Representatives from ATR, will arrive in Tehran on Wednesday, January 4, to hold the final round of business negotiations on the multi-million-dollar contract, Asghar Fakhrieh Kashan, a deputy minister of road and urban development was quoted as saying by Tasnim News Agency.

A $400-million contract on the purchase of twenty 70-seat passenger planes will be finalized on Wednesday, he added.

Five planes are expected to be delivered to Iran’s flag carrier airline, Iran Air, by March, he said, noting that the new planes will be flown in domestic flight routes.