Iran-based Arvandan Shipbuilding Company and Damen Shipyards of the Netherlands have signed a memorandum of understanding (MoU) on cooperation in the shipbuilding industry, said a report.

Arvandan Shipbuilding noted that the deal envisages cooperation in manufacturing advanced offshore vessels in Iran, added the Iran Daily News report, citing Trend News Agency.

The cooperation will include technology and the transfer of know-how to Iran while employing domestic capacities in shipbuilding, it said.

Arvandan Shipbuilding specialises in building vessels up to 2,500 dwt (deadweight tonnage), including crew boats, passenger ships, pilot boats, barges and multipurpose cargo vessels.

The company is also now looking to build a series of offshore support vessels, added the report.