DUBAI, April 2 (Reuters) – Iran is searching for $2.5 billion funding to modernise its oil tankers fleet following the lifting of sanctions towards Tehran, managing director of National Iranian Tanker Company (NITC) was quoted as saying by state information company IRNA on Saturday.

Iran emerged from years of financial isolation after crippling sanctions have been lifted in January in return for Tehran complying with steps to curb its nuclear ambitions.

Reuters reported final month that two Chinese companies have been pushing for multi-billion greenback offers with Iran to modernise its transport fleet and construct a high-speed railway.

“To expand Iran’s oil tanker activities, $2.5 billion will be invested in it,” stated Ali Akbar Safaei, managing director of National Iranian Tanker Company (NITC).

NITC has round 70 tankers however lots of them are ageing and require legitimate insurance coverage, testing, inspection and certification, referred to as ship classification, to have the ability to ply worldwide waters once more.

Safaei stated that NITC was the primary Iranian firm that has managed to lease its ships to foreigners after the lifting of sanctions. (Reporting by Bozorgmehr Sharafedin, enhancing by Louise Heavens)

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