"North-South" becomes Russia's key infrastructure project

The development of the International North-South Transport Corridor is a priority for the Russian government, Russia's Economic Development Minister Maxim Reshetnikov said at the VTB 'Russia Calling!' investment forum.

According to him, work is actively underway to develop port infrastructure and conduct dredging, alongside cooperation with Caspian states, with over 100 projects being implemented within the corridor framework.

"More than 100 specific projects are being implemented within the North-South corridor. This is our strategic priority, which will radically enhance the country's transit potential and strengthen trade ties with states of the Middle East, Central Asia, and the Indian Ocean. The Russian side is doing everything necessary for this," Maxim Reshetnikov said.

The minister emphasized that the North-South project is receiving full and prioritized financial support. Particular attention within the project is being paid to the Trans-Caspian route, involving port modernization and seabed dredging work.

"The development of the North-South project is one of the priorities for the Russian government. Therefore, a large volume of dredging work is being carried out in the Caspian Sea, including dredging on the approaches to Makhachkala. We are building a new port in Olya, Astrakhan region... significant work is underway to deepen the Volga-Caspian Canal," Reshetnikov said.

He noted that parallel efforts are organizing through-services, including direct ferry and container links with Iranian ports on the Caspian. In Caspian cooperation, Azerbaijan is developing the Alyat port, and Kazakhstan is developing the ports of Aktau and Kuryk. Joint work with Azerbaijan on building river-sea class tankers is also planned.

"We are seeing major development here. I am sure an additional impetus will be given to this development by the free trade zone with Iran, which has effectively been operational since this year. It is unlikely we have yet unlocked the full potential of our trade," Reshetnikov said.