ASTANA (TCA) — During the visit of Kanat Alpysbayev, the head of Kazakhstan’s national railway company Kazakhstan Temir Zholy (KTZ), to Iran on February 6, documentation was updated for the establishment of a joint venture between KTZ Express (a subsidiary of KTZ) and Islamic Republic of Iran Shipping Lines (IRISL), the KTZ press service reported.
A constituent agreement on the establishment of the joint venture was signed between KTZ Express and IRISL in December 2016, during the visit of the President of the Islamic Republic of Iran Hassan Rouhani to Kazakhstan.
The joint venture is scheduled to start operation in March 2017. At the initial stage, it will provide transportation and logistics services.
A project of construction of a joint terminal in the port of Bandar Abbas in Iran is scheduled for the fourth quarter of this year.
The joint venture will be developing transport and logistics infrastructure aimed at organizing efficient and cost-effective transportation and logistics services between Kazakhstan, Iran, CIS countries and Caspian Sea ports along the North-South route and other promising routes.
The creation of infrastructure in the port of Bandar Abbas will help to build transit and will provide access to ports of the Persian Gulf, India, and Africa.
In the future the joint venture plans to implement projects for the development of terminal facilities at the station Inceburun and Aktau port (Kazakhstan).