Russia is planning to build a port on the Caspian Sea near the city of Lagan, in order to increase trade in the region.
As of 29 July, plans to build the port have been included in the official Russian Federation blueprint for the region.
Vitaly Daginov, General Director of Lagan Port, said during a press conference in March that the expected cost of the port, together with its road and rail links, was $1.6 billion.
Altogether, the port will have a transshipment capacity of 12.5 million tons. At present, all Russian ports on the Caspian have a capacity of 7.5 million tons.
Much of the cargo carried via Caspian Sea is not containerised, so its adoption is seen as a way of increasing Russia’s trade with the Persian Gulf countries and India, via Iran. In the reverse direction, the port may improve communications for Chinese goods bound for Europe.
The Kremlin is also considering the possibility of building a shipping canal between the Caspian and the Sea of Azov, on the north of the Black Sea to provide a shorter route than the existing Volga–Don Canal.
A group of Iranian companies have expressed interest in investing in Lagan Port, as well as China’s Poly Group, and China Energy Engineering Group International.
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