A groundbreaking partnership between business leaders from the United Arab Emirates (UAE) and Kazakhstan has been forged to establish a state-of-the-art grain terminal and advance a marine terminal project at the Kuryk seaport.
Abu Dhabi Ports Group, a global leader in facilitating trade, logistics, and industry, has entered into a preliminary agreement with SEMURG INVEST (Semurg), an Almaty-based enterprise that owns and develops the Sarzha multifunctional marine terminal in the Kuryk seaport. The collaboration aims to explore potential investments in the grain terminal located within the Kuryk port in Kazakhstan. The Kazakh Invest National Company will provide essential support for the successful execution of the project.
The terms of the agreement outline the establishment of a joint venture between the two companies, responsible for investment, operation, and expansion of the Sarzha terminal into a versatile multipurpose facility.
Abdulaziz Zayed Al-Shamsi, Regional CEO at AD Ports Group, emphasized the strategic significance of the project within the context of the Trans-Caspian International Transport Route (TITR).
"Forming a joint venture with Semurg would be a key milestone in our Middle Corridor strategy," he noted.
Kazakh Deputy Foreign Minister Almas Aidarov highlighted the UAE's importance as a trade and investment partner for Kazakhstan. Notably, the UAE's investment in the Kazakh economy during the first quarter amounted to $209.7 mn, reflecting a significant increase of 2.5 times compared to the previous year.
"From 2005 to the first quarter of this year, investments totaling $3.38 billion have been attracted. As of August 1, some 250 companies with Arab capital operate in Kazakhstan," Aidarov further stated.
Nurzhan Marabayev, General Director of Semurg, expressed optimism about the partnership's potential to invigorate port development in Kazakhstan. He underscored the value of AD Ports Group's expertise and experience in contributing to the venture's success.
The collaboration between these dynamic UAE and Kazakh entrepreneurs is set to usher in a new era of port infrastructure development, enhance trade capabilities, and strengthen economic ties between the two nations. As the project advances, it is poised to position the Kuryk seaport as a pivotal hub within the region, bolstering the efficiency and capacity of trade activities along the Trans-Caspian International Transport Route.
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