By signing a trilateral deal,

The Industrial Development and Renovation Organization of Iran (IDRO), the Islamic Republic of Iran Shipping Lines (IRISL), and the National Iranian Tanker Company (NITC) signed a partnership agreement on Sunday to jointly establish a company for manufacturing and repairing wide-body vessels.

On the sidelines of the signing ceremony, the minister of industry, mining, and trade said that when the incumbent administration took office, Iran Shipbuilding and Offshore Industries Complex Company (ISOICO) was in a state of half-closed as a result of privatization methods which have been used to divest its shares. Moreover, Iran Marine Industrial Company, known as SADRA, had been closed down and there were many controversies among the companies. But, all the problems were resolved through a collective effort and collaboration between related officials, according to IDRO News.

Mohammad Reza Nematzadeh expounded upon the importance of the agreement, saying: “On one hand, the importance of the agreement is in the capability of ISOICO for designing and manufacturing, and on the other hand, it is due to the two domestic customers, namely the Islamic Republic of Iran Shipping Lines, and the National Iranian Tanker Company.”

The minister of industry, mining, and trade went on to say that the agreement secures interests of both consumers and manufacturers and, in fact, it is a win-win deal. He expressed hope that the agreement would be turned into a role model for cooperating in other fields.

The chairman of the board of directors of the Industrial Development and Renovation Organization of Iran, for his part, said that according to the national strategic plan for the development of the shipbuilding industry, some $30 billion should be invested in this field of industry by 2025.

“Today, we are witnessing a good partnership in the country’s shipbuilding industry as the climate of confrontation has changed to the climate of cooperation and interaction,” Mansour Moazzami said.

Moazzami, who is the deputy minister of industry, mining, and trade, pointed out that IDRO, the Islamic Republic of Iran Shipping Lines, and the National Iranian Tanker Company will jointly establish a company with shares of 20 percent, 40 percent, and 40 percent respectively. One of the notes of the agreement stipulates that a portion of the shares of the shipping and the tanker companies will be transferred to foreign partners.

 “Two foreign companies will join the partnership and will have a stake in the deal,” the chairman of IDRO noted.

Mohammad Saeidi, the managing director of the Islamic Republic of Iran Shipping Lines, also addressed the ceremony. He depicted the common strategic views of Eng. Nematzadeh in the ministry of industry, mining, and trade, and Dr. Moazzami in the Industrial Development and Renovation Organization, saying, “This could have happened two decade ago. Today, the country is on the verge of the fourth decade of revolution. The Iranian nation does not want any more to import industrial technology from abroad. Abundant manpower, dynamic industry, academic centers, and knowledge-based companies can pave the way for the shipbuilding industry to grow.”

Sirous Kian Ersi, the managing director of the National Iranian Tanker Company, for his part, said that the country is moving toward improving self-sufficiency and increasing job creation. He expressed hope that such steps would be taken to realize the goal of national development.

It should be noted that by signing the trilateral agreement between the Industrial Development and Renovation Organization of Iran, the Islamic Republic of Iran Shipping Lines, and the National Iranian Tanker Company, the market of building and repairing ships will be supplied by domestic companies.

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