HindustanTimes.com Friday, March 15, 2002
India-Iran-Russia to bulid new Asia transport bridge Fred Weir (Moscow, March 14) A new India-Iran-Russia transport corridor will be the most important bridge between Europe and Asia since the Suez Canal and the Trans-Siberian Railway, say Russian officials. Russian President Vladimir Putin ratified the scheme on Wednesday, which will reduce container delivery times between India and Europe by arou-nd 10 days and lower transport costs by about 20 per cent. India and Russia have signed the deal, and Iranian agreement is imminent. Under the plan, cargoes will travel in sealed containers by sea to or from Mumbai through Bandar Abbas in Iran, and then by train via Russian Black Sea or Baltic Sea ports. Experts estimate the route could be doing $10-billion in annual business within a few years. "We have tremendous potential for increasing trade in this region," said an Indian embassy official, commenting on the project. “Political focus is in place now, and business advantages are obvious”. Experts say the only potential stumbling block could be US objections to Mos-cow and Delhi's dealings with Iran, a country President George W Bush has named as an “axis of evil” member state. Send your feedback at [EMAIL PROTECTED] ©Hindustan Times Ltd. 1997. Reproduction in any form is prohibited without prior permission.
