National Iranian Tanker Company (NITC) plans to overhaul its fleet and build new oil tankers with the help of domestic companies, a report said, quoting the company's managing director.

"We will try to renovate and overhaul our oil tankers using domestic manufacturers and therefore, we have inked two contracts with Sadra Company and Iran Shipbuilding and Offshore Industries Complex Co (ISOICO) to build five oil tankers,” Ali Akbar Safaei was quoted as saying by Iran Daily, which cited Fars News Agency.