AD Ports Group announced the signing of a number of diverse agreements to broaden its operations in Kazakhstan.
The agreements, signed on the sidelines of the visit of Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi to the Republic of Kazakhstan, include one with KazMunayGas (KMG), the national oil company of Kazakhstan, on Caspian and open sea fleet expansion, and another with SEMURG Invest LLP to establish a joint venture to design, develop, finance, and operate the Sarzha Multipurpose Terminal (SMT) at Kuryk Seaport on the Caspian Sea.
The SMT terminal will be designed to handle general cargo, containers, and dry bulk cargoes.
The AD Ports Group also exchanged Memoranda of Understanding (MoUs) with three Kazakh organisations – Kazakh Invest, the nation’s trade development group; the Chamber of International Commerce of Kazakhstan; and Special Economic Zone Morport Aktau, to explore joint trade development efforts.
Under the MoUs, the AD Ports Group will work with each partner to assess opportunities to promote and develop trade, economic, and industrial cooperation through joint events, information exchanges, and other measures.
The measures could lead to significant expansion of the Group’s investment and operations in Kazakhstan, a key central Asian trade nation that is a major hub in the Group’s strategy to redevelop the East-West Silk Road “Middle Corridor” into a modern, low-impact direct land corridor running from China, through Central Asia and Pakistan, into Europe.
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said the new agreements not only testimony the Group’s increased interest in Kazakhstan, but also of the execution of its long-term strategy to develop the “Middle Corridor” land passage from China to Europe as a principal East-West trade route of the 21st century.
“The Middle Corridor is the shortest, least environmentally impactful way to transport goods from China to Europe, and our investments reflect Kazakhstan’s growing role as an emerging export leader,” he said.
To date, AD Ports Group has invested $175 million in Central Asian country-based projects, it said.
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