ASTANA (TCA) — On February 17 in Shanghai (China), a delegation of Kazakhstan’s national railways company Kazakhstan Temir Zholy (KTZ) held talks with representatives of Chinese companies China Cosco Shipping and LLC GK Lianyungang Port on joint implementation of projects at special economic zone (SEZ) Khorgos – Eastern Gateway on the Kazakh-Chinese border, the KTZ press service said.
During negotiations the parties reached agreement on cooperation with the Chinese companies on development of a joint venture that will be a participant of SEZ Khorgos – Eastern Gateway. According to the signed Protocol, China Cosco Shipping and LLC GK Lianyungang Port will invest in the joint venture until 1 June 2017.
These activities are implemented in line with the Kazakh President’s instructions to attract large foreign investors and multinational companies to the development of key infrastructure projects in Kazakhstan. The project of development of SEZ Khorgos – Eastern Gateway is a key conjugation of Kazakhstan’s state program Nurly Zhol and China’s One Belt One Road program.
China Cosco Shipping is the world’s largest cargo ship owner with a fleet of over 1,100 vessels (total deadweight of more than 85 million tons) and is ranked fourth in the world in terms of transport containers.
The participation of China Cosco Shipping and GK Lianyungang Port will ensure the integration of SEZ Khorgos – Eastern Gateway in global transport and logistics flows on routes between Asia and Europe and give an impetus to attracting new transit volumes.
