Russia plans to export coal to India via Iran's INSTC route
Date
6/10/2024 3:57:16 AM
(MENAFN) During the 27th Saint Petersburg International Economic Forum held in the city, Russia unveiled plans to transit coal to India through the International North-South Transit Corridor (INSTC) passing through Iran, according to an Iranian news agency report. The announcement signifies a strategic initiative to leverage the INSTC route, with the export cargo of Russian coal set to be transported to India via Iran's southern Bandar Abbas port.
The North-South Corridor comprises three route sections - East, West, and Middle - facilitating efficient transit connectivity between participating countries. Iran and Russia have been actively collaborating in the maritime sector to optimize transit routes, particularly utilizing the Caspian Sea to shorten the transportation distance from Russia to India.
Last year, the Islamic Republic of Iran Shipping Lines (IRISL) disclosed plans to allocate 300 containers for transporting goods between Russia and India, marking a significant milestone in enhancing trade connectivity along the North-South Corridor. These containers are designated to execute the initial phase of a program aimed at facilitating the transit of Russian commodities to India via the Caspian Sea route within the INSTC framework.
In an IRISL statement, it was highlighted that the allocated 300 containers represent the first phase of the transit program, with provisions for expansion in response to growing demand. This strategic initiative underscores the commitment of Iran and Russia to bolstering trade and transportation infrastructure, harnessing the potential of the INSTC to facilitate smoother and more efficient trade routes between Asia and Europe. As collaborative efforts continue to unfold, the INSTC holds significant promise for enhancing regional connectivity and fostering economic growth among participating nations.
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