According to Dmitry Dubovik, director of the Caspian International North-South Integration Club, the first four ships are due to be launched in 2024 reported Sputnik News Agency.

The Goa shipyards in India will build 24 cargo ships for operation in the Caspian Sea with the participation of the Russian Export Centre by 2027. Dmitry Dubovik, Director of the Caspian International Integration Club "North - South", made this announcement at the International Forum in Astrakhan.

"It was decided to open production in India at the Goa shipyards. They have confirmed their readiness to start production of our ship models. There are three of them - chemical carriers, bulk carriers, container ships. They are ready to give us 24 ships in three years - that is a very fast pace today," Dubovik said.

First four ships are scheduled to be completed in the first quarter of 2024, he noted. The cargo ships will be deployed in the Caspian Sea.

As Dubovik explained in an interview with the media, their construction will be carried out with the participation of the Russian Export Centre, and the project is planned to be implemented by 2027.

The advantages of cooperation with India include a price that will be twice that of Russian manufacturers, as well as business rates of 2-3% instead of the 18.6% currently offered by the State Transport Leasing Company (STLC).

STLC emphasizes that it primarily supports shipbuilding through state programs and investment projects, providing favourable financing terms.

"Due to the current macroeconomic situation, the market leasing rates exceed the level of the key rate of the Central Bank of Russia by several percentage points. At the same time, STLC finances the construction of vessels, including cargo ships, mainly within the framework of state programs and investment projects at preferential rates, which are significantly lower than the market rates," the press service of STLC said.

The North-South International Forum will be held in Astrakhan on 25-26 October. The event will bring together more than 150 companies from Iran, Pakistan, Oman, UAE, India, Azerbaijan, Turkmenistan, Uzbekistan, Kazakhstan, Belarus and other countries.

The forum is held with the support of the Government of the Astrakhan Region, the State Corporation "RUSIRANEXPO", the Caspian International Integration Club "North - South". The event will bring together representatives of the countries located along the route of the international transport corridor, export-import companies, equipment and food manufacturers, other logistics companies and all those interested in increasing sales.