TEHRAN, Jan. 17 (Shana) � Head of National Iranian Tanker Company (NITC) said foreign firms have signaled willingness to give Iran a $3bn line of credit.

Addressing a ceremony to mark the 60th anniversary of NITC, Ali Akbar Safaei said the company is studying a number of low-priced financing propositions it has received recently for marine and land transportation operations.

"Foreign finances make it possible for domestic resources to be used in other economic sectors rather than�transportation," he said.

He said Iranian tankers are bracing for sailing in European seas, adding that limitations caused by the US-led sanctions on banking procedures, international insurance, and voyages will be discussed during a meeting with representatives of NITC and foreign firms.

By SHANA