World Bank: Flows along Middle Corridor via Caspian Sea are expected to triple by 2030

World Bank: Flows along Middle Corridor via Caspian Sea are expected to triple by 2030
# 27 November 2023 14:49 (UTC +04:00)

.In a scenario where the Middle Corridor is operationalized, flows along the Middle Corridor via the Caspian Sea are expected to triple by 2030 vs 2021 to 11 million tones, was noted in the report of World Bank, APA-Economics reports.

This means 3 times increase compared to year 2021. Of the total flows via the Caspian Sea, approximately 4 million tonnes would represent the projected demand for container transportation. If improvements to the MC are not implemented, the transportation demand will be 35 percent lower than the projected increase. The operationalization of the MC is poised to significantly boost cargo turnover in absolute terms, with containers expected to increase by 1.5 times.

“The development will also diversify flows, favoring high value-added commodities, such as fertilizer - anticipated to nearly double. Other commodities positively affected include articles of metals, prepared foodstuff, machinery, and chemicals. In the MC operationalization scenario, where all the recommended improvements are actioned, goods with higher value, - particularly those more sensitive to travel time, currently using the Northern route - will partially shift to the MC. The share of raw materials will be reduced from 60 percent to 53 percent. While for ‘core’ MC connections via the Caspian Sea, such as oil and oil products, as well as ferrous and non-ferrous metals, will still represent important volumes,” was emphasized in the report of World Bank.

#
#

THE OPERATION IS BEING PERFORMED