India to build cargo ships for Russia

India will build 24 cargo ships for Russia over the next three years to facilitate trade via the Caspian Sea, according to the head of the Caspian International Integration Club "North - South".

Dmitry Dubovik said that a deal between Moscow and New Delhi was set to be signed on Thursday at an international forum in the Russian city of Astrakhan.

The construction of the first four vessels will begin in the first quarter of 2024 at a shipyard in Goa, Dubovik said. India will build three types of vessels for Russia – chemical tankers, bulk carriers, and container ships, with a total of 24 vessels being delivered before 2027, he added.

The Caspian Sea is the world's largest inland body of water, located between Asia and Europe and bordered by Russia, Iran, Azerbaijan, Turkmenistan, and Kazakhstan. Three major rivers and numerous smaller rivers flow into it, providing a wide range of trade route options.

The sea has seen a surge in transportation activity over the past year, as new routes started to emerge following EU sanctions against Russia. The nations’ vessels were banned from European ports and Moscow has been forced to redirect its trade flows eastwards.

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