Hyundai Heavy Industries (HHI) received a $700 million (821.1 billion won) order from Iran to build 0 ships, a report said.

HHI will build four 14,500 twenty-foot equivalent (TEU) container ships and six 49,000 deadweight ton (DWT) tankers for petrochemical products for Iran's state-owned Islamic Republic of Iran Shipping Lines (IRISL), reported Iran Daily, citing businesskorea.co.kr.

The container vessels are to be constructed by HHI, while its affiliate Hyundai Mipo Dockyard Co. will build the petrochemical product carriers.

The ships will be delivered one by one starting the second quarter of 2018. "The deal is meaningful as HHI has won its first shipbuilding order and marked its foothold for future business in Iran,” An official from HHI was quoted as saying in the report.