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Sun 25 Mar 2018 08:09 AM

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DP World to acquire stakes in two Kazakhstan special economic zones

DP World says the acquisitions will help it play a larger role in the 'New Silk Route'

DP World to acquire stakes in two Kazakhstan special economic zones

DP World has signed agreements to take stakes in two of Kazakhstan’s Special Economic Zones (SEZ), the ports operator announced on Saturday.

In a statement, DP World said that two framework agreements were signed in Abu Dhabi relating to the acquisition, governance and management of SEZ in Aktau, Kazakhstan’s main cargo and bulk terminal on the Caspitan Sea, and Khorgos, a primary transit port for trans-Eurasian trains on the China-Kazakhstan border.

Following the agreement, DP World now plans to acquire a 51 percent stake in the Khorgos SEZ and 49 percent in the Aktau SEZ, in a bid to play a greater role in enhancing trade connectivity along the ‘New Silk Route’.

“Kazakhstan is an important link in the New Silk Route and in the development of the Belt and Road initiative,” DP World group chairman and CEO Sultan Ahmed bin Sulayem said.

“Focusing on soft and hard infrastructure development that supports multimodal transport links will be key in realizing its potential as a transit corridor as well as boosting its own economy,” he added.

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