Iranian Golden Line and Russian PLC Caspiy will establish a transport and logistics center in the SEZ Lotos

Image source: Government of Astrakhan region

SEZ Lotos will start accepting Iranian containers at the end of 2023

Iranian company Golden Line has declared its readiness to invest in the port-type SEZ Lotos in the Astrakhan region and to join forces with PLC Caspiy LLC, the main resident of the SEZ Lotos, to establish a transport and logistics in the interests of Russia and Iran.

According to the press center of the regional government, a cooperation agreement was signed in Moscow between SEZ Lotos JSC and Mir Business Club LLC. The document was signed by Sergey Milushkin, General Director of SEZ Lotos JSC, and Oleg Akulinichev, General Director of Mir Business Club LLC.

The parties are ready to cooperate in order to promote economic, commercial and industrial transactions, financial operations, transit, port services and the transport of goods through the International North-South Transport Corridor (ITC).

Mir Business Club was established in July 2022 by Mir Business Bank JSC under the auspices of the Iranian Embassy in the Russian Federation and the Ministry of Economic Development of RF for an exchange of economic information, marketing and support legal framework for commercial relations between the two countries. as well as for assistance with financing and logistical operations between Russia and Iran.

Sergey Milushkin recalled the close relations with Iran’s special economic zones and the willingness of SEZ Lotos to start accepting containers from Iran and those from India transiting through Iran from the end of 2023.

A decree on the creation of a special port economic zone (port SEZ) of 644 hectares in the Limansky district of the Astrakhan region (document No. 1792) was signed by the RF government on November 7, 2020. The company of management of the port SEZ is SEZ Lotos JSC. The project is implemented in accordance with the Presidential Order on the development of the international transport corridor “Sever-Yug” (“North-South”) and the social and economic development of the Astrakhan region.

Total investments in the project are expected to exceed 27 billion rubles. Annual freight turnover is expected to reach around 8 million tons by 2031.

The International North-South Transport Corridor (ITC) is a 7,200 kilometer long transport artery connecting Saint Petersburg to Iranian and Indian ports. The North-South ITC has a western branch and an eastern branch, both crossing Iran. The western one provides for the transport of goods by road via Rasht, the eastern one – by rail. The end point in Iran is the port of Bandar Abbas from where the goods can be delivered to India by sea. The western branch also passes through Azerbaijan, the eastern branch – Kazakhstan and Turkmenistan. Also, direct sea transport from Russia to Iran through the Caspian Sea is possible.

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