NITC Plans for Post-Sanctions Era

NITC Plans for Post-Sanctions EraNITC Plans for Post-Sanctions Era

Preliminary measures have been taken for Iran to reenter international and European markets, says managing director of National Iranian Tanker Company (NITC), Ali Akbar Safaei.

"Improving the company's technical infrastructure and upgrading the standards of its fleet will pave the way for actualizing our plans," Safaei told a group of reporters, Shana reported.

According to Safaei, the company has two sets of 'micro' and 'macro' plans for the post-sanctions era.

"Our micro plans entail fleet enhancement in terms of technology and gearing up for a marketing plan that will attract the markets that sanctions cost us. Macro plans include fleet development that will happen once reviewed and approved by the board of directors in coordination with stakeholders," he said.

The official stressed that both sets of plans will have specific execution periods of short, medium, or long term.

Safaei took stock of the company's half-finished projects of about 10 years, namely the construction of two product carriers at Iran Shipbuilding and Offshore Industries Complex and three oil vessels at ISOICO's sister company Sadra in Bushehr Province.

"We are pursuing them in cooperation with the High Council of Marine Industries," he said.

Safaei said a new memorandum of understanding is currently being drafted in support of the domestic shipmaking industry and is projected to be signed between NITC and two shipyards by the yearend.