Port operator signs agreement to create special economic zone in the Caspian Sea city of Aktau
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.For all the latest transport news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.