India Signs MoU with Russia to Fast-Track North-South Corridor
- February, 05, 2019 - 17:00
- Economy news
TEHRAN (Tasnim) – India has signed a memorandum of understanding with Russia to accelerate the development of the International North-South Transport Corridor (INSTC) that will enable a smoother connectivity to the region via Iran.
Russian Railways Logistics Joint Stock Company (RZD) and Container Corporation of India (CONCOR), the largest rail container transport operator in India, last week signed the MoU for providing logistics services on INTSC, the implementation of which has been delayed for years despite a dry run on the corridor in recent years, The Economic Times reported.
The MoU involves the study of possibilities for developing joint logistics projects in Russia and India using international transport corridors, including INSTC.
INSTC is the shortest multimodal transportation route linking the Indian Ocean and the Persian Gulf via Iran to Russia and Europe. India could take benefit of this route. Cargo from India can be taken to the Iranian port of Bandar Abbas, and from there to Bandar-e Anzali on the Caspian Sea by land. The goods can then be shipped to the Russian port of Astrakhan and from there to the rest of Europe by rail.