SEZ Lotos and Mostazafan Foundation to cooperate in establishment of JV for development of North-South ITC
Mostazafan is ready to invest in port infrastructure and equipment and to participate in organization of cargo transit across Iran between Astrakhan and Mumbai
Special Economic Zone Lotos JSC (SEZ Lotos) and Paya Tarabar Sina, a company established by the Mostazafan Foundation for cooperation on logistics issues, have signed an agreement on cooperation in working towards establishment of joint ventures for development of the international transport corridor North-South (North-South ITC), press center of Lotos reports on the results of its working trip Iran together with representatives of PLC Caspiy LLC (anchor resident of SEZ Lotos) and Kotlin Shipping Company (logistics partner of the project).
“That is not our first agreement with Iranian foundation Mostazafan, but we have made our cooperation more specific now. The foundation is ready to invest in port infrastructure and equipment, participate in organization of cargo transit across Iran from Astrakhan to Mumbai and back, removal of administrative barriers, in trading and marketing. For that purpose, the Iranian side is ready to join hands with the Russian partners for establishment of joint ventures and companies in Russia and Iran, or, if necessary, in other countries, for example in India. First of all, the focus is on special economic zone of port type in the Astrakhan Region,” commented Sergey Milushkin, General Director of SEZ Lotos JSC.
The working trip of SEZ Lotos JSC and PLC Caspiy LLC representatives included the visit to the Anzali free economic zone and meeting with its General Director Ali Mokaddam. He confirmed the readiness to lease out the port territory of Anzali FEZ for organization of storage and logistic centers with the purpose to ensure full-scale functioning of the North-South ITC.
“We are continuing our cooperation with the Anzali economic zone commenced back in 2015. It is a key point of the route in northern Iran. Mr. Mokaddam suggested considering the creation of a joint Russian-Iranian free economic zone and the organization of financial exchanges in the territories of the port SEZ in the Astrakhan region and the Anzali FEZ, which, he believes, would allow for the maximum simplification of logistics processes and mutual settlements between the transportation participants,” added Sergey Milushkin.
A Decree on establishment of a 644-hectare special port economic zone (Port SEZ) in the Limansky District of the Astrakhan Region (document No 1792) was signed by RF Government on 7 November 2020. The managing company of the Port SEZ is SEZ Lotos JSC. The project is being implemented in pursuance of the presidential order on development of the International Transport Corridor “Sever-Yug” (“North-South”) and social and economic development of the Astrakhan Region.
The Mostazafan Foundation is the second-largest commercial enterprise in Iran after the state-owned National Iranian Oil Company and biggest holding company in the Middle East. The foundation numbers 160 firms representing various economic sectors. According to its Charter, the Mostazafan Foundation is an independent legal entity.
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