[
THE INVESTOR]
Daewoo Shipbuilding & Marine Engineering announced on Dec. 29 that it has signed an agreement with an Iranian state-run agency to cooperate in the development of a shipyard there.
Under the deal with the Industrial Development and Renovation Organization of Iran, DSME will cooperate to develop a shipyard and related facilities in the Middle Eastern country.
According to the South Korean shipyard, the Iranian side wants financing from the South Korean government, and shipbuilding-related technology and operation know-how from DSME.
DSME said the deal will help it make inroads into Iran’s shipbuilding market, and export related equipment.
(
theinvestor@heraldcorp.com)