Regional & International Cooperation

Iran launched transit of goods from Russia to India through the International North-South Transport Corridor

by IRNA

The Islamic Republic of Iran Shipping Lines (IRISL) has initiated multi-sided transit of goods from Russia to India via the International North-South Transport Corridor (INSTC) for the first time.

Chairman of the Russian-Iranian port of Solyanka in the Astrakhan economic zone Daryoush Jamali told IRNA on Saturday, adding that such multi-sided transits were carried out occasionally and partially, but efforts made by the shipping team bore fruit to make it possible to create a pilot mechanism in order to transit containers from Russia to India or the Far East while using merely one bill of lading for the whole transit route, which is exactly the real objective of the International North-South Transport Corridor.

 

Pointing to advantages of the initiative, Jamali said that decrease of transport costs such as tolls for ports and customs offices, reduction of the period that containers should wait, acceleration of delivery of commodities, removal of dangers in transferring empty or full containers, issuance of valid documents for legal issues and compensation of potential losses, acceleration of banking operation, and increase of commercial credit are guaranteed in this initiative.

 

The first multi-sided transit consists of two containers carrying wood laminate weighing 41 tons, he said, adding that the pilot shipment was sent from Saint Petersburg in Russia and moved to Astrakhan Port to enter Iran via the Caspian Sea.

 

The transit operation is being conducted in cooperation between Iran’s shipping representative office in the International Transport & Shipping Ltd. (ITS) and logistical companies of the Islamic Republic of Iran Shipping Lines in India, he noted.

 

As expected, the first pilot transit will reach the destination in Indian Nhava Sheva port in less than 25 days, the official added.

 

Given agreements reached in this regard, it is expected that the large bulk of cargo will be transited from Russia and Belarus to India via Astrakhan Port, which will grow foreign transits in the International North-South Transport Corridor, and help Russia, India, and Iran to make more money.

 

Solyanka Port was classified as the first among 15 ports on the Volga River and the region of Olia as well as the Republic of Dagestan in 2020.

 

More than 53% of the shares of the Solyanka Port belong to the Islamic Republic of Iran, and Russia owns the rest of the shares.

Source
IRNA
Show More

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button