DP World and Kazakhstan hold talks on further Silk Route investment
DP World and Kazakhstan have held talks on increasing investment in the country’s ports and logistics sectors as part of DP World’s efforts to benefit from China’s New Silk Route initiative.
The talks were held between DP World’s chairman and CEO Sultan Ahmed Bin Sulayem and Kazakhstan’s prime minister Askar Mamin in Astana.
The New Silk Route is the overland part of the One Belt, One Road project, which seeks to boost maritime and rail connectivity between China and Europe.
The New Silk Route is a US $900-million series of railways and inland container depots between China and its neighbours in the west: most notably Central Asia, the Middle East and Europe.
Kazakhstan will be one of the key partners in the initiative, connecting China and Europe through Russia.
DP World and Kazakhstan have already signed two framework agreements for Special Economic Zones (SEZ) in Aktau and Khorgos.
DP World has been providing management services to the Port of Aktau, Kazakhstan’s main cargo and bulk terminal on the Caspian Sea, and Khorgos SEZ and Inland Container Terminal (ICD), which is strategically situated on the China-Kazakhstan border.
The ICD is the primary transit point for trans-Eurasian cargo trains.
DP World considers that both facilities play an important role in enhancing trade connectivity along the New Silk Route and have further actively promoted business connectivity between Kazakhstan and Dubai.
“Our expertise in developing logistics and trade enabling infrastructure will benefit tremendously from building facilities in Kazakhstan and to the needs of local businesses,” said Sulayem.
“We believe that the economic fundamentals of Kazakhstan are very strong, which is why look forward to continue investing there,” he added.
“President Nursultan Nazarbayev’s vision and progressive policies have laid the groundwork for linking the Far East to Europe and ensuring that the Khorgos Internal Container Depot and SEZ play a crucial role in facilitating this,” said Sulayem.