The eastern section of the International North-South Transport Corridor (INSTC) will be expanded to handle 10mn tons per year by 2027, Kazakhstan's Deputy Prime Minister Serik Zhumangarin announced at the North-South Transport Trade and Export Forum on July 19.
The forum, held in Aktau, marks a milestone in the development of the transport corridor, which is pivotal for connecting global markets.
“No matter in which country the INSTC begins or ends, almost all of its routes run through Kazakhstan,” Zhumangarin stated during the forum's opening.
He emphasized the importance of Kazakhstan's role in the transport corridor, which serves as a critical link between Asia and Europe.
The forum, which runs until July 20, 2024, was planned after a meeting in Kabul in April 2024 with Kazakhstan, Afghanistan, and Turkmenistan. The meeting highlighted the need for streamlined and transparent rules to facilitate smoother transportation and access to infrastructure along the North-South corridor.
The planned enhancement involves upgrading the eastern branch's capacity from its current 6mn tons to 10mn tons per year by 2027, with a further goal of reaching 20mn tons by 2030.
This project will require an investment of $1.9bn, part of which will be sourced through preferential terms from the Eurasian Development Bank. Key infrastructure projects include modernizing sections of the Orsk-Kandyagash-Makat-Beineu-Bolashak and Iletsk-1-Aktobe railways.
Zhumangarin also noted that President Kassym-Jomart Tokayev has stressed Kazakhstan's role as a central hub for transport and logistics within the Eurasian Economic Union (EAEU). The ongoing modernization efforts are set to position Kazakhstan as a major transport and logistics hub, linking global markets more efficiently.
The forum has attracted over 440 participants from 12 countries, including Azerbaijan, Armenia, Afghanistan, Russia, Belarus, Turkmenistan, the UAE, Iran, Iraq, Oman, and Uzbekistan, as well as representatives from the Economic Cooperation Organization and the Eurasian Economic Commission.
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