Russia's Astrakhan Region, Iran to form joint shipping co

ASTRAKHAN. July 7 (Interfax) - The government of Russia's Astrakhan Region and Iran's Mostazafan Foundation have signed an agreement to establish a shipping company to develop the North-South international transport corridor, the deputy chairman of the regional government, Denis Afanasyev said.

"The leadership of the Mostazafan Foundation, one of the largest Iranian funds, which includes, among other things, shipping companies, visited us. An agreement was signed on the creation of a joint shipping company," Afanasyev said Wednesday at a Federation Council meeting on the development of international transport corridors.

He said the Astrakhan port is seeing a significant increase in cargo traffic, which is expected to grow by a third by the end of August.

Belarus has confirmed its willingness to ship some cargo through Astrakhan ports, Afanasyev said.

"Approval is underway with the Transport Ministry of Russia on the volumes [that will go] specifically in the direction of Astrakhan. We're talking about at least 1 million tonnes from Belarus in the near future. We can double the figure for this route if we have an understanding regarding discounts for railway transit," Afanasyev said.

He said Astrakhan Governor Igor Babushkin plans to hold negotiations on discounts with the management of Russian Railways (RZD).