BAKU, Azerbaijan, May 24. As many as 26 ships of the Islamic Republic of Iran Shipping Line Group (IRISL) are ready to ship cargo from Iran to Russia and vice versa, CEO of the IRISL Group, Mohammad Reza Modarres Khiabani said, Trend reports.
The CEO noted that the capacity of these ships is 3,600 TEU containers and 104,000 DWT (deadweight tonnage). These ships will carry cargo through the International North-South Transport Corridor (INSTC) to Russia.
Modarres Khiabani said that the IRISL Group currently has 139 ships with a cargo carrying capacity of 5 million DWT.
According to him, the International North-South Transport Corridor is 40 percent closer in distance and 30 percent less expensive than other routes.
The official also added that last year, the IRISL Group shipped 54,000 TEU containers and 720,000 tons of cargo to various destinations around the world.
As reported, Iran has already started construction of its Rasht-Astara railway line, however, due to the high cost of construction, the country is looking to attract foreign investment. According to the Iranian side, a total of 200 trillion rials (about $4.76 billion) is needed for the construction of this railway line.
The foundation of the ‘International North-South Transport Corridor’ was laid on the basis of an intergovernmental agreement signed between Russia, Iran, and India on September 12, 2000. In total, 13 countries have ratified the agreement, including Azerbaijan, India, Iran, Russia, Türkiye, etc.
The purpose of creating a corridor is to reduce the delivery time of cargo from India to Russia, as well as to North and West Europe. Delivery time on the current route is more than 6 weeks, it is expected to be reduced to 3 weeks via North-South Transport Corridor.
Iran's 175 km-long Qazvin-Rasht railway was officially put into operation on March 6, 2019, to connect Azerbaijani railways with the Iranian railway network within the corridor. In addition, the 167 km long Rasht-Astara railway line will be built in Iran.
---
Follow the author on Twitter:@BaghishovElnur
