Daewoo to set up Iranian Shipbuilding Company

By John Lee.

The Industrial Development and Renovation Organization of Iran (IDRO) and Daewoo Shipbuilding and Marine Engineering Co. Ltd. (DSME) have signed Heads of Agreement (HoA) to set up a Joint Venture to develop an Iranian shipyard.

The Iranian government has said it will strongly support this business cooperation, and requests the Korean Government and DSME for their support, including in the area of financing.

According to IDRO, DSME has a good relationship with Iranian shipping companies — including NITC and IRISL — having already delivered 38 vessels valued $1.65 billion.

(Source: IDRO)

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