Iran has reaffirmed its determination to advance the North-South Transport Corridor (INSTC) in collaboration with Russia, Iranian President Masoud Pezeshkian said on Monday.

Speaking during a meeting in Tehran with a Russian delegation led by Deputy Prime Minister for Transport Vitaly Savelyev, Pezeshkian noted the importance of completing the Rasht-Astara railway as a strategic priority for Iran.

The 162 km railway will connect Rasht, near the Caspian Sea, to the border city of Astara, facilitating the movement of goods between Russia, Azerbaijan, Iran, and India.

Pezeshkian reaffirmed Iran's readiness to fulfill its commitments under the agreement and encouraged the Russian side to initiate project planning and implementation.

"Iran is committed to the provisions of this agreement and the Russian side can begin mapping the route and prepare the implementation of the project as soon as possible," he said.

Strategic partnership

Savelyev echoed the sentiment, stressing Russia's commitment and financial support to the project, which includes a €1.3 billion interstate loan.

He also noted ongoing cooperation with Azerbaijan to modernize their sections of the corridor and called on Iran to accelerate its preparations.

Once operational, the railway is expected to handle 15 million tonnes of cargo annually, bolstering regional trade and connectivity.

During the meeting, Savelyev extended an invitation for the Iranian president to visit Russia in early 2025, where further agreements are expected to be signed.

He also expressed optimism about resolving remaining issues and implementing projects outlined in agreements reached in 2023.

"Iran is our strategic partner, above all else, and we undoubtedly have a lot of joint issues that we are going to discuss: in the sphere of sea transport, in the sphere of motor transport, railway transport, and air communication," the Russian official said.

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The INSTC project, valued at approximately $1.6 billion, aims to create a seamless network of sea, rail, and road transport across the region.

Both sides reiterated their strategic partnership and commitment to advancing infrastructure development, stressing the importance of collaboration to meet shared economic goals.