Iran eyes Caspian Maritime Consortium, accelerates port-led growth strategy

Iran is preparing to deepen its sea-based economic strategy with plans to establish a Caspian maritime consortium involving private-sector companies from Iran and Russia, according to the country’s Ports and Maritime Organization (PMO). The consortium’s founding agreement is expected to be signed within the next one to two months.

The initiative is aimed at unlocking the Caspian Sea’s economic potential despite environmental challenges such as declining water levels. He stressed that these constraints must be managed rather than allowed to limit regional trade and connectivity.

Iran shares the Caspian coastline with five neighboring countries and maintains active trade ties with all of them. Rasouli said Tehran’s approach focuses on expanding both cargo and passenger transport across the basin as part of a broader regional engagement strategy. The idea of a Caspian maritime consortium was first proposed in May and further developed during talks in Russia’s Makhachkala, where a roadmap for cooperation was finalised.

Beyond Russia, Iran is also strengthening maritime cooperation with Kazakhstan in both the Caspian and southern waters, as well as with Azerbaijan, Turkmenistan and Oman. As part of this push, Rasouli announced the launch of a trial regular shipping service between Iran’s southeastern port of Chabahar and Oman’s capital, Muscat. He emphasised that Iran views the Caspian Sea and its southern maritime routes as interconnected elements of a larger transit network, supported by expanded rail and road infrastructure.

Chabahar, Iran’s only oceanic port, continues to see rapid growth. Rasouli said container handling at the port has increased by more than 70 percent year-on-year. While expansion is progressing quickly, he acknowledged that capacity constraints remain. Construction of Chabahar’s hinterland logistics zone is set to begin shortly, and the long-awaited rail link to Zahedan is expected to be completed by the end of the year.

The Shahid Rajaee terminal at Chabahar currently spans around 2,400 hectares, with a further 2,400-hectare expansion planned. Work is already underway on the bridge that will connect the new development area to the existing port.

On international cooperation, India’s $120 million investment commitment at Chabahar has been fully implemented. Indian partners remain actively involved, with port equipment now being procured and installed. While progress had slowed at one stage due to the suspension of certain exemptions, and the Indian side successfully secured their reinstatement and is now officially operating at the port.