{"id":15743,"date":"2024-02-28T18:46:45","date_gmt":"2024-02-28T08:46:45","guid":{"rendered":"https:\/\/www.railfreight.com\/?p=50353"},"modified":"2024-02-28T18:46:45","modified_gmt":"2024-02-28T08:46:45","slug":"russia-kazakhstan-and-turkmenistan-create-instc-joint-venture","status":"publish","type":"post","link":"https:\/\/www.vibewire.com.au\/?p=15743","title":{"rendered":"Russia, Kazakhstan and Turkmenistan create INSTC joint venture"},"content":{"rendered":"

Russia, Kazakhstan and Turkmenistan plan to create a joint venture for the development of the International North-South Transport Corridor (INSTC). The plan aims to improve the delivery of transportation services, shorten cargo delivery times and streamline customs services.<\/strong>
\n<\/span>The INSTC is a transport corridor that connects Russia and Iran along the western and eastern coasts of the Caspian Sea. Kazakhstan and Turkmenistan are key players in the development of the corridor, as the two countries separate Iran and Russia by land. Now, Russia, Kazakhstan and Turkmenistan have taken it upon themselves to establish a joint venture to promote the development of the corridor.<\/p>\n

The joint venture will aim to improve transportation services, shorten cargo delivery times and streamline customs services through standardised information systems, which the Kazakh ministry calls \u2018unified window\u2019.<\/p>\n

Growing importance<\/h2>\n

The INSTC has become an increasingly important international transport corridor. In 2023, 2,1 million tonnes of goods passed through the corridor via rail and saw a growth of four per cent from the year prior. According to the Kazakh ministry of transport, the throughput capacity of the corridor will increase from 6 million tonnes to 10 million tonnes per year by 2027.<\/p>\n

Earlier, the Central Asian countries of Kazakhstan and Kyrgyzstan called for expanded rail infrastructure<\/a> along the INSTC, citing global supply chain transformations as a major factor necessitating infrastructure investments.<\/p>\n

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