Industrial Development and Renovation Organization of Iran (IDRO), Islamic Republic of Iran Shipping Lines (IRISL), and National Iranian Tanker Company (NITC) have signed a contract to build and repair ships.
Speaking at the contract-signing ceremony, Iranian Minister of Industry, Mine and Trade Mohammad Reza Nematzadeh pointed to the significance of establishing a joint firm for building and repairing ships asserting “the partnership holds importance in view of production and design capabilities of Iran Shipbuilding and Offshore Industries Complex Company (ISOICO) as well as that the two domestic customers are NITC and IRISL.”
It is worth mentioning that the signing of the Memorandum of Understanding (MoU) between IDRO, IRISL and NITC aims to build and repair ships through indigenous partners.