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Russian firm, CONCOR ink pact for cargo transport via Iran

29
Feb '20
Pic: Shutterstock
Pic: Shutterstock
India and Russia can move goods between both sides through Iran within three months, according to the Container Corporation of India (CONCOR) chairman and managing director V Kalyana Rama, who recently said CONCOR signed a service agreement with RZD Logistics JSC, a Russian Railways subsidiary, to transport cargo between both countries using a single invoice.

The move will benefit exporters and importers between India and Russia by lowering transit time and cost of transportation compared to existing transportation via Suez Canal. The new route will sharply cut time of moving goods to 25-28 days from about 40 days now as it will avoid the present circuitous sea route through the Suez Canal, and also result in significant cost savings, according to Indian media reports.

India’s exporters will soon be informed regarding the exact cost of transportation, said Kalyana Rama. CONCOR also hopes to get favourable terms of operations from Iran’s Chahbahar Port, which is managed by India and is out of the US sanctions list.

RZD Logistics said that CONCOR intends to provide its container fleet and equipment for organising and developing transportation on the International North-South Transport Corridor (INSTC) through Iran and Azerbaijan.

The INSTC project will link India with Russia and East European countries. RZD Logistics JSC is the the largest multimodal logistics operator in the CIS and Baltic countries, and CONCOR is the largest container train operator in India owned by the government.

Fibre2Fashion News Desk (DS)


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