​The Industrial Development and Renovation Organization of Iran signed a memorandum of understanding with China Communications Construction Company (CCCC). On the sidelines of the signing ceremony, Iranian Industry, Mining, and Trade Minister Mohammad-Reza Ne’matzadeh expressed hope that in light of the recent nuclear agreement, the two countries would establish long-term cooperation based on new policies.Eng. Ne’matzadeh referred to the priority of Iran for cooperation in the form of joint investment, saying that “Our country has prepared a strategic plan for the next 10 years and will make investment within that framework.”He voiced full support of the Ministry of Industry, Mining, and Trade from the maritime industry development project, adding, “The agreement has been developed, for the time being, as a contract working. After feasibility studies are implemented, necessary measures will be taken in the field of maritime facilities and building vessels, and beyond that, turning the region into a hub for repairing vessels.”Prior to Eng. Ne’matzadeh, Dr. Norouzzadeh, the chairman of the board of directors of the Industrial Development and Renovation Organization of Iran, delivered a speech. He said that huge investments have been made in Azim Gostaresh Hormoz Company for establishing dry docks to build repair and ships. In cooperation with the Chinese company, the facilities will be completed and come on stream, he said.There is $7.5-billion market for building ships of more than 50,000 tons capacity in the country, he said, adding, it is hoped that through launching joint ventures between IDRO and the Chinese side, the country’s need for about 200 vessels for the next five years would be met.The chairman of the board of directors of the Industrial Development and Renovation Organization of Iran referred to the need for repairing vessels in southern waters of the country, adding that two large fleets of the Islamic Republic of Iran Shipping Lines and the National Iranian Tanker Company, as well as vessels belonging to the private sector are operating in the country. This is a very large market in the hands of us and the Chinese side, provided that the Chinese side makes required investment, he noted.Liu Qitao, the managing director of CCCC, which is the parent company of China Harbour Engineering Company Ltd. (CHEC), for his part, expressed satisfaction over cooperation with the Industrial Development and Renovation Organization of Iran in the development of maritime facilities and industries. He added that the company has an annual turnover of about $400 billion yuan, ranking 108 among the top 500 Fortune list, and can cooperate with Iranian companies in all infrastructure fields, including maritime industries.The nuclear agreement has provided a welcome opportunity for Iran’s progress. We are ready to for all kinds of cooperation, including e investment in different maritime projects, he added.