Iran (IMNA) _The announcement was made by Dariush Jamali, the Iranian director of the Russian Port of Solyanka, during an international conference titled "The North-South Corridor; a New Concept" held in Astrakhan, Russia. Jamali emphasized the corridor's pivotal role in the Eurasian transport network.
During the conference, attended by high-ranking officials including the governor-general of Russia's Astrakhan, Iran's ambassador to Russia, the manager of Afghanistan Railway Company, and the head of Iraq Railway Company, Jamali highlighted the three routes of the INSTC: western, eastern, and maritime or trans-Caspian. He revealed that Iran and Russia have committed to investing $38 billion in the corridor's development, with Russia and Iran holding shares of 35% and 34% respectively.
Jamali also shed light on the efforts undertaken by the Islamic Republic of Iran Shipping Line (IRISL) to bolster the INSTC route. These efforts include the purchase of 30 rail wagons, 5,400 containers, and the construction of 21 equipped vessels to strengthen the maritime routes.
Furthermore, Jamali underscored the significance of IRISL Group's investment at Russia's Solyanka Port, aimed at expanding its capacity, improving infrastructure, and acquiring additional ships.
The collaboration between Iran, Russia, and India on this ambitious transportation system began in 2002, with intermittent efforts to establish a comprehensive rail, road, and sea network spanning over 4,500 miles and benefiting numerous Eurasian countries. This initiative has the potential to revolutionize global trade dynamics.
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