By John Lee.
Iran’s Social Security Investment Company (Shasta) has reportedly signed contracts worth $100 million with Turkish firms for construction projects and modernisation of the Arvandan shipbuilding facilities in Khuzestan province.
The AFP report also says that the deal includes Iranian construction of a $10-million catamaran — a high-speed double-hulled passenger vessel with an aluminum body.
A $15-million agreement with another Turkish company to modernise and develop the Arvandan shipbuilding site was also signed.
The third contract was a $70-million investment in construction of a commercial building in Tehran over four years.
(Picture Credit: Tasnim, under Creative Commons licence)