Italian steel firm Danieli will sign about $5.7 billion in commercial agreements with Iran during President Hassan Rouhani's visit in Rome this week, a company spokesman confirmed on Monday.

A government source told Reuters earlier that the contracts were worth about $4 billion euros, but a company spokesman later said the total value of the agreements was higher and included a joint venture with other international investors, including Iranians.

The joint venture, worth $2 billion, will be called Persian Metallics, said the Danieli spokesman, giving no further details.

Danieli will directly sign contracts with several Iranian companies for machines and equipment to produce steel and aluminum for a total of $3.7 billion, the company said.