North-South ITC Freight Traffic Volume to Reach 32 Million Tons

BUSINESS TURKMENISTAN
North-South ITC Freight Traffic Volume to Reach 32 Million Tons
Cargo transit through Azerbaijan surged by more than 75% in 2022.

The volume of freight transported across the North-South corridor will double by 2030, from 17 million tons to 32 million tons per year, Trend news agency reported on Saturday.

According to the report, cargo transit along the ITC's western route totaled 2.15 million tons from January 1 to March 28, 2023, an 84.37 percent increase over the previous year (1.16 million tons).

Furthermore, cargo transit through Azerbaijan surged by more than 75% in 2022.

Kazakhstan's transport and logistics company KTZ Express, Russian Railways Logistics, and Turkmenistan's Transport and Logistics Center signed a memorandum on the formation of a joint venture to develop transportation and to create a single logistics operator on the North-South corridor's eastern route.

The North-South Corridor is a 7,200-kilometer-long multimodal corridor. Through the Suez Canal, this alternative route connects Europe, the Persian Gulf countries, and the Indian Ocean.

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2022