“Fincantieri has reached a cooperation and development agreement with Azim Gostaresh Hormoz Shipbuilding Industry Company, a new Iranian shipbuilding complex strategically positioned in the Persian Gulf within the Persian Gulf Special Economic Zone,” Fincantieri said in a statement as reported by Italian news agency AGI.
The Iranian company is a subsidiary of Iran Shipbuilding and Offshore Industries Complex Company, which in turn owns the Industrial Development and Renovation Organization of Iran–one of the biggest Iranian companies active in the country’s process of development and industrialization.
According to Fincantieri, the agreement provides for cooperation between the two companies in the construction of new merchant ships and offshore units and in the field of naval repairs and conversions, as well as in the refitting of units already in use. Fincantieri, through its subsidiary Isotta Fraschini Motori, has also signed two other agreements in the marine propulsion and rail transport sectors, the report added.