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Iran
emerged from years of economic isolation after crippling
sanctions were lifted in January in return for Tehran complying
with steps to curb its nuclear ambitions.
Reuters reported last month that two Chinese firms were pushing
for multi-billion dollar deals with Iran to modernize its
shipping fleet and build a high-speed railway.
"To expand Iran's oil tanker activities, $2.5 billion will be
invested in it," said Ali Akbar Safaei, managing director of
National Iranian Tanker Company (NITC).
NITC has around 70 tankers but many of them are aging and
require valid insurance, testing, inspection and certification,
known as ship classification, to be able to ply international
waters again.
Safaei said that NITC was the first Iranian company that has
managed to rent its ships to foreigners after the lifting of
sanctions.
(Reporting by Bozorgmehr Sharafedin, editing by Louise Heavens)
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