Both parties will be explore opportunities to work together on the Aktau SEZ development project while adding shipping capacity on the Caspian Sea, MANA correspondent reported.
Kazakhstan is in the midst of a five-year economic growth initiative that has a strong focus on the development of transport and logistics, energy and industrial infrastructure.
The projects are part of Kazakhstan President Nazarbayev’s five-year economic policy, “Nurly Zhol”, focused on, as well as of small and medium-sized businesses.
DP World Group chairman, Sultan Ahmed Bin Sulayem, said: “The development of Special Economic Zone in Aktau will stimulate economic growth of the country, and more importantly – it will make Kazakhstan the largest transport and logistics hub in Central Asia.
“We are delighted to have the opportunity to continue sharing our ports and logistics expertise with the government to develop the country’s modern logistics hubs as engines for economic development and to enable trade across the region.”
The agreement is part of a wider DP World strategy to establish a presence in Kazakhstan and the wider Silk Road trading route. The New Silk Route is part of China’s One Belt, One Road (OBOR) initiative and DP World is actively investing in many of the countries which form the basis for OBOR.
DP World’s already has management advisory services contract with the Port of Aktau, Kazakhstan’s main cargo and bulk terminal on the Caspian Sea.