Iran to expand domestic shipbuilding

According to local media reports, Ali Akbar Mehrabian, Minister of Industry and Mines of Iran, said during the launching ceremony of a 35,000 dwt vessel that the country will build around 500 various types of ships during the next 20 years with passenger ships totalling 120 units and LNG carriers 40.

Investment of $20 billion would be required for the newbuildings, he forecast.

Iran’s President Mahmoud Ahmadinejad also said in a speech at the launching ceremony that the government will discontinue imports of foreign-built vessels and actively support domestically built ships.