NITC Seeks $2.5b to Modernize Fleet

NITC Seeks $2.5b to Modernize Fleet

Iran is seeking investment worth $2.5 billion to modernize its oil tanker fleet following the lifting of sanctions against it in January, managing director of National Iranian Tanker Company was quoted as saying by IRNA on Saturday. "To expand Iran's oil tanker activities, $2.5 billion will be invested in it," Ali Akbar Safaei was quoted as saying by Reuters. 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 noted that NITC was the first Iranian company to rent its ships to foreigners after the lifting of sanctions. Iran emerged from years of economic hardship after sanctions were lifted in January in return for Tehran complying with steps to curb its nuclear program. Reuters reported last month that two Chinese firms were pushing for multibillion dollar deals with Iran to modernize its shipping fleet and build a high-speed road.


Short URL : http://goo.gl/4GQuLQ
  1. http://goo.gl/vew9jK
  • http://goo.gl/Zb5yOd
  • http://goo.gl/zO295V
  • http://goo.gl/DYpL1K
  • http://goo.gl/ZEIZPt

You can also read ...

Renewable Energy Could Become Cost-Free by 2030
A research report by Swiss investment bank UBS believes the...
Total Awaits CNPC Decision on South Pars Stake
Total is awaiting a decision by China National Petroleum Corp...
India Announces 2nd Round of $14b Oil, Gas Bidding
India has launched the second round of bidding for small...
Oil Price Edges Up
Oil prices rose on Tuesday after Saudi Arabia said it had cut...
Focus on Eying Sustainable Water, Energy Consumption Patterns
Identifying sustainable water and energy consumption patterns...
Domestic Refineries Building Diesel Hydrotreating Units
A diesel hydrotreating unit, which is a part of the plan to...
Portable Gas Stations  for Northern Routes
The National Iranian Oil Products Distribution Company has...