Ship repair industry is one of the most important industries of the world and it plays an important role in transportation, investment volume, and employment. In addition to economic benefits, ship repair industry prevents from additional costs, capital flight, and loss of employment and investment opportunities. With its vast water borders in north and south, Iran also has very great opportunities to develop ship repair industry. Especially, due to the high vessel traffic in northern water borders of the Caspian Sea, it is very necessary to build a ship repair facility in this region. This paper is a feasibility study of construction of a ship repair facility in Iranian northern ports. This feasibility study is based on an algorithm developed by UNIDO and includes market assessment, technical and financial evaluation as well as economic evaluation. In the market assessment, the market of vessels in Caspian Sea and future of ship repair market is assessed. In technical evaluation, the advantages and disadvantages of different types of ship repair workshops are studied and syncrolift system is selected as the best ship repair system. Then, this system is evaluated in terms of economic features. In financial and economic evaluation, the profitability and financial ratios for the target market)- Port of Anzali which is considered as an appropriate area for constructing a ship repair facility- are evaluated. Finally, social and political advantages of this development plan are discussed. The results of this study not only reveal the future of this industry for authorities, but also help them to achieve self-sufficiency in marine maintenance.