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EghtesadOnline: Islamic Republic of Iran Shipping Lines (IRISL) Group and South Korea's Hyundai Heavy Industries Co. are holding the final talks on a deal of providing ten ships for Iran.

Under the contract, valued at US$650 million, Hyundai will build four 14,400 TEU container ships and six 50,000 DWT product tankers, South Korean News Agency 'Yonhap' has reported.

The ships will be delivered starting in the third quarter of 2018, Yonhap added. 

'(We) are in consultations (with the Iranian side on the possible contract) but it's not decided yet,' Yonhap has quoted an official at Hyundai as saying. 

After announcement of the 'Implementation Day' of the Joint Comprehensive Plan of Action (JCPOA) in January, 2016, IRISL has entered negotiations with the foreign companies to buy ships and related equipment from them, according to IRNA. 

Hyundai Heavy Industries is the largest shipbuilding company in the world.

IRISL Iran Shipping Lines Hyundai Heavy Industries