Rail freight volumes along the Azerbaijani section of the INSTC have grown by 25 per cent in the first half year of 2024, when compared to the same period of the previous year. Volumes amounted to approximately 435,000 tonnes of goods.
The 25 per cent growth concerns transit freight, according to a press release by Azerbaijan Railways. “Between January and July of this year, 434,651 tonnes of rail freight was transported within the framework of the INSTC on the territory of Azerbaijan”, the company stated. “Transit goods were transported along the corridors Astara – Yalama and Yalama – Astara that go through Azerbaijan.”
As a result of a 19 August meeting between Russian president Vladimir Putin and his Azerbaijani counterpart Ilham Aliyev, the latter said that Azerbaijan will allocate 120 million dollars in 2024 for the modernisation of the INSTC railway on its territory. Putin added that the development of the INSTC benefits the relationship between the two countries.