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Iranian Shipbuilding company signs $5b agreement with Venezuela

TEHRAN, May 10 (Mehr News Agency) -- Iran Shipbuilding and Offshore Industries Complex Co. (ISOICO) has managed to conclude an agreement worth $5 billion on the development of marine industries and shipbuilding with Venezuela, noted Iran's deputy industries and mines minister Mohsen Shaterzadeh.

Also, Iran, Venezuela and Bolivia have signed a trilateral memorandum of understanding (MOU) on the expansion of the shipbuilding industries, the Iranian official told Mehr News Agency (Mehr News Agency) on Wednesday.

"Despite the $1 billion investment in the shipbuilding industries we have been able to employ only 30 percent of the potentials of the industry," maintained the deputy minister who was speaking at a seminar held on the issue in the Iranian Caspian Sea resort of Mahmudabad.

Iran's non-oil exports last year hit $10,500,000,000, Shaterzadeh further explained adding, industrial products accounted for 77 percent of the figure.

... Payvand News - 5/16/06 ... --

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