Iran, Russia Rail Link as Rival to Suez Canal
Russia and Iran plan railway link through Azerbaijan that would aim to grab a share of the cargo now being shipped through the Suez Canal, reports Tasnim.
Russia’s transport minister, Maxim Sokolovm, said Tehran and Moscow are considering establishing a rail link that would foster trade connectivity through a less trodden path than the Suez Canal.
The International North-South Transport Corridor (NSTC), a multi-model route to link India and the Middle East to the Caucasus, Central Asia and Europe, is being nurtured for significantly reducing costs and travel time and boosting trade.
“If the rail link to Iran is built, it can take some share of the cargo that’s being transported via Suez,” Sokolov said in an interview on Monday, Bloomberg reported.
He added that plans for the railroad may be completed next year.
For trade, India currently uses maritime transport to link with Russia. From St. Petersburg, the cargo has to sail around the entire western part of Europe and the Suez Canal which takes around 40 days to reach Mumbai.
“Our talks will focus on a flagship project – the International North–South Transport Corridor with a total length of 7,200 kilometers,” Russian President Vladimir Putin said.
