BAKU, Azerbaijan, July 20. By 2027, as part of the International North-South Transport Corridor (INSTC) development, the capacity of the Russian port of Olya on the Caspian Sea is planned to increase to 3.3 million tons, including 0.5 million tons of containerized cargo, 1.1 million tons of general cargo, 0.8 million tons of grain, and 0.9 million tons of food bulk cargo, Trend reports, referring to Deputy Chairman of the Government of the Astrakhan region Denis Afanasyev.
According to the publication, the construction of a new marine terminal in the Port Special Economic Zone (PSEZ) will contribute to the port's capacity increase.
"The works are scheduled within the framework of the Russian 'Development of Transport Infrastructure' federal program for the period of 2025–2030, which includes measures for the development of INSTC," said Afanasyev.
The PSEZ was established in Russia's Astrakhan region in November 2020 as part of comprehensive measures to develop cargo transportation along the INSTC.
The Olya seaport is a key universal port for transshipment of general, container, and car ferry cargoes, strategically located at the intersection of transportation routes connecting Russia with Iran, other Caspian countries, and further with the Middle East and India.
In 2023, the total cargo turnover at the Astrakhan and Olya ports increased by 51 percent to 4.5 million tons.
The International North-South Transport Corridor, which has been developing since 2000, includes 14 participating countries, including Azerbaijan.