TEHRAN — Korean Hyundai will build a giant oil tanker for Iran according to a contract worth $80 million signed here on Thursday, Maritime News Agency (MANA) reported.

“Hyundai and Iran-o Hind Shipping Company — an affiliate to the Islamic Republic of Iran Shipping Lines (IRISL), has inked a contract under which Hyundai will build an oil tanker weighing 160,000 tons for the company,” Gholam-Hossein Golparvar, an official with the IRISL said.

Dubbed “Amin”, the giant oil tanker is scheduled to join Iran-o Hind fleet in 2009, deputy at IRISL for commercial affairs noted.

“Thus, the company’s capacity will increase from 500,000 DWT to 650,000 DWT,” he added.

Golparvar also said that the IRISL is planning to invest in delivery of crude oil and LNG (liquefied natural gas) as well.