Iran and Russia are going to invest about $38 billion in the development of Trans Caspian shipping lines as part of the International North-South Transport Corridor (INSTC), Iran’s Maritime News Agency (MANA) reported. Addressing an international conference dubbed “The North-South Corridor; a New Concept” in the Russian city of Astrakhan on Friday, the Iranian director of the Russian Port of Solyanka, Dariush Jamali, branded the corridor as “a key element of the Eurasian transport network”. In this conference, which was attended by the governor-general of Russia’s Astrakhan, Iran’s ambassador to Russia, manager of Afghanistan Railway Company.—Tehran Times
