Russia to Invest $1.5 Billion in the International North-South Transport Corridor

The Russian daily Vedomosti reported yesterday that, according to a presentation made by the Ministry of Transport, “Russian Railways is expected to assist in the development of the corridor connecting India, Iran, and Russia by constructing a line from the border city of Astara in Azerbaijan to the city of Rasht in Iran and electrifying the Garmsar-Incheh Burun line in Iran,” the latter a 495 km section from just east of Tehran to Incheh Burun on the border with Turkmenistan. Russia is prepared to invest some $1.5 billion over 3-5 years to complete the International North-South Transport Corridor (INSTC), which was discussed and agreed upon in last week’s summit meeting between the Presidents Vladimir Putin of Russia and Ebrahim Raisi of Iran.