TEHRAN (Mehr News Agency) – Two oceangoing oil tankers will be built inside the country to facilitate the process of oil products transportation overseas, said Abdulsamad Ta’aqqol, Planning Director of National Iranian Tanker Company (NITC).

“Each tanker would have a 35, 000-ton capacity,” he added, pointing to the agreement of Iran’s Ministry of Mines and Industry to fund the project, which is to be implemented by Fara Sahel Co. The whole project will cost $50 billion, he added.

The sectioning process is due to start in April 2004 on completion of primary designs, Ta’aqqol stated. This is a suitable starting point to globalize the NITC within the next ten years, he concluded.

If carefully planned, the NITC is capable of bringing $5 billion annually, he said. ER/IS END MNA