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Mon 16 Jan 2017 01:51 PM

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Dubai's DP World inks deal to develop Kazakh economic zone

Port operator signs agreement to create special economic zone in the Caspian Sea city of Aktau

Dubai's DP World inks deal to develop Kazakh economic zone

Dubai's DP World, one of the world's largest port operators, has signed an agreement with Kazakhstan to develop a special economic zone in the Caspian Sea city of Aktau, the company said on Monday.

DP World and Kazakhstan will look at opportunities to add shipping capacity and develop a logistics area, it said in a statement.

The memorandum of understanding was signed by DP World Group Chairman Sultan Ahmad Bin Sulayem and Manistau Governor Akim Alik Aidarbayev in the presence of Kazakhstan First Deputy Prime Minister Askar Mamin.

DP World has existing contracts in Kazakhstan to develop port facilities and logistics zones, including agreements with the Port of Aktau and the country's national railway company.

A Kazakh delegation led by President Nursultan Nazarbayev is in the United Arab Emirates this week attending the World Future Energy Summit.

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