BAKU, Azerbaijan, June 15. The volume of cargo traffic via the International North-South Transport Corridor (INSTC) is expected to be 17.6 million tons in 2023 compared to 14.5 million tons last year, Russian Minister of Transport Vitaliy Savelyev said, Trend reports.
Savelyev made the remark at the panel session themed "Development of economic cooperation within the framework of the North-South international transport corridor: road transport as an important part of multi-modal transportation" during the St. Petersburg International Economic Forum (SPIEF'23).
"According to forecasts, by 2030 this figure may rise to 41 million tons," he said.
Besides, the minister noted that in 2023 it's planned to transport 5.5 million tons of cargo through the INSTC by road transport.
The INSTC is a 7,200-km-long multi-mode network of ship, rail, and road route for moving freight between India, Iran, Azerbaijan, Russia, Central Asia and Europe. The route primarily involves moving freight from India, Iran, Azerbaijan and Russia via ship, rail and road.