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Hyundai Heavy says wins $700 million order from Iran for 10 ships
December 11, 2016 / 1:41 AM / a year ago

Hyundai Heavy says wins $700 million order from Iran for 10 ships

SEOUL (Reuters) - South Korea’s Hyundai Heavy Industries Co Ltd (009540.KS) said on Sunday it had won a $700 million (556.75 million pounds) order to build 10 ships for Iran’s state-owned Islamic Republic of Iran Shipping Lines.

A shipyard of Hyundai Heavy Industries is seen in Ulsan, about 410 km (255 miles) southeast of Seoul June 28, 2013. REUTERS/Lee Jae-Won

The order is for 14,500 TEU container ships and 49,000 tonne tankers, the South Korean company said in a statement, although it did not break down the number of ships of each type.

Delivery will begin in the second quarter of 2018, it said.

Reporting by Yun Hwan Chae

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