Domestic Economy

IRISL Orders 200 Cargo Wagons From Local Manufacturers

IRISL Orders 200 Cargo Wagons From Local Manufacturers
IRISL Orders 200 Cargo Wagons From Local Manufacturers

The Islamic Republic of Iran Shipping Line Group (IRISL Group) has ordered 200 cargo wagons from domestic manufacturers to speed up its transport services.
The multimodal transportation company known as M-MTC, affiliated to the IRISL Group, plans to develop services and find new markets, IRNA reported.
The IRISL subsidiary signed a contract with a domestic firm to manufacture 100 long-edge wagons for transporting mineral and bulk cargos.
As part of the tender, M-MTC has signed a contract for 100 flat wagons from another domestic producer, which are being manufactured.
Every long-edge wagon possesses the capacity of transporting around 68.5 tons of different types of goods by rail, which will help reduce fuel consumption.
The increase in flat wagons will decrease the time of cargo transit and facilitate door-to-door transportation.
The domestic manufacture of the wagons prevents the outflow of an estimated €14 million.
Moreover, it supports the creation of 500 direct and indirect jobs.
The Islamic Republic of Iran Shipping Line Group possesses about 1,200 wagons for fuel supply, of which 732 wagons are operational at present.
IRISL is the biggest player in Iran’s transportation sector.
The group recently opened offices in different regions of India to boost its activities in the International North-South Transportation Corridor. It will ship export commodities from the east of India, which are transported by rail, to ports in the west.
IRISL is strengthening its activities in India, the INSTC corridor and Russia. Following negotiations with the Indian Railways, Indian manufacturers and traders are planning to deliver their exports from Kolkata in eastern India through the corridor to Russia and the Commonwealth of Independent States using IRISL fleet, reported. 
Given that the Indian government and businesspeople are eager to expand their ties with Russia, the CIS countries and Iran through the north-south corridor, IRISL has been offering regular transportation services for months; it has launched container shipping from the western ports of India to the southern ports of Iran.
INSTC is the best route for the transportation of goods between India and Russia; its transit time is between 20 and 25 days, compared with the transportation through the Suez Canal to Russia and Central Asian countries, which takes between 40 and 50 days. As such, no other route can compete with the north-south corridor in terms of transit time and transportation costs to access the Russian and CIS markets. In addition, IRISL plans to reduce the transit time between India and Russia to 15 days.
IRISL has taken effective steps in recent months to strengthen its activities in the north-south corridor by investing in the Russian port of Solyanka along the Caspian Sea.

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