Iran, Russia invest $38bn on North-South Corridor

Addressing a gathering in the opening ceremony of an international conference dubbed “The North-South Corridor; a New Concept” in the Russian city of Astrakhan on Friday, the Iranian director of the Iranian-Russian Port of Salianka, Daryush Jamali, branded the corridor as “a key element of the Eurasian transport network”.

He added Tehran and Moscow have almost equal shares of the investment, elaborating 330 wagons as well as 54,000 containers have so far been purchased and negotiations are underway for construction of 21 ships for the corridor.

Iran’s ambassador to Russia, the director of Afghanistan’s railway, the director of the Iraqi railway and the head of the North-South Integration Club were among the participants of the event.

The 7,200-km ship, rail, and road corridor is planned for moving freight between India, Iran, Azerbaijan, Russia, Central Asia and onwards to Europe to increase trade connectivity between major Iran, Russia invest $38bn on North-South Corridor

Iran and Russia have so far invested 38 billion dollars to boost shipping lines for the North-South transport corridor which links Asia to Europe.

Addressing a gathering in the opening ceremony of an international conference dubbed “The North-South Corridor; a New Concept” in the Russian city of Astrakhan on Friday, the Iranian director of the Iranian-Russian Port of Salianka, Daryush Jamali, branded the corridor is “a key element of the Eurasian transport network”.

He added Tehran and Moscow have almost equal shares of the investment, elaborating 330 wagons as well as 54,000 containers have so far been purchased and negotiations are underway for construction of 21 ships for the corridor.

Iran’s ambassador to Russia, the director of Afghanistan’s railway, the director of the Iraqi railway and the head of the North-South Integration Club were among the participants of the event.

The 7,200-km ship, rail, and road corridor is planned for moving freight between India, Iran, Azerbaijan, Russia, Central Asia and onwards to Europe to increase trade connectivity between major cities en route.