A special port economic zone is to be established in Astrakhan Oblast according to the decree signed by RFV Premier Mikhail Mishustin on November 7, 2020.
The new port zone will be integrated with the existing industrial special economic zone Lotos, the two zones combined will form the Caspian Cluster to provide cargo base for the international North – South transport corridor connecting North and West Europe and India and Iran.
Over 2.5 bn rubles (32.5 mn dollars) is to be assigned for that purpose during 2021-2022.
The establishment of the Caspian Cluster is expected to improve the competitiveness of the Russian ports in the Caspian and help attract cargo flows from the neighbouring countries.