Iran to Build 200 Cargo Ships in Domestic Yards

Iranian industry, mining and trade minister said Iran is planning to build 200 cargo ships inside the country with an investment of EUR  300 million to boost its maritime development program.

The state-owned IRNA news agency said that the ailing shipbuilding sector keeps growing only because foreign companies avoid offering services to the country due to the American sanctions.  

“We have defined a target for construction of 200 cargo vessels as part of the development plan for maritime industries,” said the mminister Reza Rahmani, adding, “Some €300 million will be invested in this field.”

Rahmani said shipyards in the region and other coasts south and north of the country had been experiencing a boom in activity since last year when the US imposed its sanctions on Iran.

“Our ships and vessels no longer sail abroad for repair and restoration,” said the minister, according to Press TV. He added that shipyards in Iran had carried out more than 100 maintenance operations on vessels in various sizes since March 2019.

Rahmani said Iranian shipyards were technically capable of performing more than 80 percent of the repairs needed for ships being operated by the government agencies, adding the country is reaching a state of self-sufficiency in ship repairs and maintenance services.

He said some 60,000 new jobs will be created in Iran’s shipbuilding sector as a result of the government’s massive investment plan, adding that another 100,000 people will be indirectly employed on the industry’s supply chain.