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Home / NEWS / Daewoo Shipbuilding to construct shipyard in Iran

Daewoo Shipbuilding to construct shipyard in Iran

by Jochebed Menon on Dec 29, 2016


This image is for representational purposes only.
This image is for representational purposes only.

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South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Company has signed an agreement with an Iranian firm to cooperate in the development of a shipyard.

Under the deal with the Industrial Development and Renovation Organisation of Iran, Daewoo Shipbuilding will work on constructing a shipyard and related facilities in Iran, according to Yonhap News Agency.

The shipyard said that the Iranian side wants financing from the South Korean government, and shipbuilding-related technology, and operation know-how from Daewoo Shipbuilding.

Daewoo Shipbuilding said the deal will help it make inroads into Iran's shipbuilding market, and export related equipment.

Since 1983, Daewoo Shipbuilding secured a combined $1.65bn worth of orders to build a total of 38 ships from Iran's state-run shipping firms, such as National Iranian Tanker Co.



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