TEHRAN (Iran News) – Governor of Astrakhan region in Russia, Igor Babushkin tasked the participants of the regional working group for the development of the International North-South Transport Corridor (INSTC) project to send their proposals on its implementation to the Regional Ministry of Economic Development by May 15.
He noted that the development of the INSTC route, which unites India, Iran, Azerbaijan, Russia, and Northern European countries, will help increase the efficiency of cargo transportation through the territory of the country, Trend News Agency reported on Sunday.
“This is one of the priority issues that are under my constant control,” Babushkin said during a videoconference call with the working group members. “For the Astrakhan region, this means the revival of its trade and economic importance and creating new jobs and opportunities for improving the lives of the local residents.”
The Astrakhan initiative was supported by the Russian government, which approved a set of measures for the INSTC development on February 14, 2020.
In particular, according to Minister of Industry and Natural Resources Denis Afanasyev, these measures take into account the region’s proposals regarding the creation of a single corridor operator, the need for building port infrastructure for container handling, cluster development of the port and industrial and production special economic zones, as well as the creation of “Green Corridor” customs clearance system.
It’s also envisioned to create the Caspian cluster which will unite the port and industrial zones under a single management company.
According to estimates, within INSTC, 3.5 million tons of cargo will be handled by 2025, eight million tons by 2029, and more than 20 million tons by 2050.
- source : Iran Daily, Irannews