DP World signs logistics agreement with Kazakhstan
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.
“Kazakhstan is an important location along the New Silk Way – a trade corridor that will benefit economies of the world. New and efficient infrastructure is needed to realise seamless cargo movement with multi-modal transport links essential for profitable growth. To attract investors there is a need to find innovative ways of working together with a focus on infrastructure provision, developing financial markets, mitigating risks and eliminating red tape,” said Bin Sulayem, Group Chairman and CEO, DP World Group.
“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,” Bin Sulayem added.
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.
(With inputs from Reuters)