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  • 2022 October 6 15:20

    Cargo traffic on North-South ITC can double by 2030 – Mikhail Mishustin

    In 2021, cargo traffic on the North-South international transport corridor (ITC) totaled about 14 million tonnes

    In 2021, cargo traffic on the North-South international transport corridor (ITC) totaled about 14 million tonnes while it has a potential to double by 2030, Russian Prime Minister Mikhail Mishustin said at the plenary session of the 2nd Caspian Economic Forum. The transcript has been published on the official website of the RF Government.

    “We have estimated the potential cargo base of the North-South corridor. Last year, cargo traffic on it totaled about 14 million tonnes with the potential of growth by 2030 estimated at nearly two-fold Thus, we need to synchronize debottlenecking of the railway network and the checkpoints as well as to create conditions for launching of seamless logistics services - from the Urals, the Volga region, the Baltic Sea - from all over Russia to the Persian Gulf and then to South Asia and the Middle East, to Africa, which is to give an extra impetus to the regional and cross-border trade, "Mikhail Mishustin is quoted as saying,” said Mikhail Mishustin according to the transcript.

    He also emphasized the significance of coordinated steps on development of transport and logistics opportunities for the Caspian countries. “The region is to become one of the largest Eurasian hubs of transcontinental transportation. It will contribute to development of regional markets, building up of trade and production cooperation,” said the Prime Minister.

    According to him, a transition to domestic currency settlements and development of an independent financial market infrastructure is a crucial priority.

    North-South international transport corridor (ITC) is a 7,200-kilometre-long transport artery from St Petersburg to ports in Iran and India. North-South ITC has a western and an eastern branch, both running across Iran. The western one foresees cargo transportation by road via Rasht, the eastern one – by railway. The end point in Iran is the port of Bandar Abbas from which cargo can be delivered to India by sea. The western branch also crosses Azerbaijan, the eastern one – Kazakhstan and Turkmenistan. Besides, direct water transportation from Russia to Iran by the Caspian Sea is possible.

    Related links:

    India is interested in development of cargo transportation by North-South ITC >>>>

    Russia, Iran and Azerbaijan sign MoU to simplify transit transportation >>>>


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