TEHRAN, IRAN – The Iranian head of Solyanka Port in Russia said that the International North-South Transport Corridor (INSTC) is a key element of the transportation network in Eurasia.
Speaking in a specialized meeting of INSTC- New Concept, which was held in Astrakhan Port of Russia, Dariush Jamali pointed to the three western, eastern and maritime or trans-Caspian routes .
He said that Iran and Russia have considered investing about US$38 billion for the development of the corridor, 35 and 34 percent share of which will belong to Moscow and Tehran respectively.
He highlighted the measures taken by the Islamic Republic of Iran Shipping Line to develop the INSTC route, including purchasing 30 rail wagons, 5,400 containers and buying and ordering the construction of 21 equipped vessels for strengthening the maritime routes.
The investment of the IRISL group at Russia’s Solyanka Port to increase the capacity of the port and its infrastructure and purchase ships is among the most important measures taken by the group, he added.