DP World moves to cash in on China’s ‘New Silk Road’

DP World moves to cash in on China’s ‘New Silk Road’
ABU DHABI UNITED ARAB EMIRATES March 24 2018 HH Sheikh Mohamed bin Zayed Al Nahyan Crown Prince of Abu Dhabi Deputy Supreme Commander of the UAE Armed Forces back R and HE Nursultan Nazarbayev President of Kazakhstan back L witness an MOU signing ceremony at the Presidential Palace Seen signing are HE Sultan Ahmed bin Sulayem Chairman and CEO of DP World R and Mr Kanat Albez Bayev Chairman of GSC Company L Mohamed Al Hammadi Crown Prince Court Abu Dhabi
Published: 26 March 2018 - 1:02 a.m.
By: Logistics Middle East Staff

Global port operator DP World and the government of Kazakhstan have signed two framework agreements in Abu Dhabi relating to the acquisition, governance and management of 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, which is strategically situated on the China-Kazakhstan border and has been acting as the primary transit point for trans-Eurasian cargo trains for more than four years.

DP World now plans to acquire a 51% stake in the Khorgos SEZ and 49% in the Aktau SEZ, to play an important role in enhancing trade connectivity along the New Silk Route, handling all cargo types including hydrocarbons, containers and bulk.

The agreements were signed between Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World and Kanat Alpysbayev, president of Kazakhstan Temir Zholy (KTZ) and Yeraly Tugzhanov, governor of the Mangistau region of Kazakhstan.

“Kazakhstan is an important link in the New Silk Route and in the development of the Belt and Road Initiative,” said Bin Sulayem. “Focusing on soft and hard infrastructure development that supports multimodal transport links will be key in realising its potential as a transit corridor as well as boosting its own economy.”

“Our experience in 40 countries and across the global supply chain shows that ports and economic zones working together and employing smart technology to integrate processes are key to enabling trade for local businesses and regional economies,” he added.

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