ASTANA – Business leaders from the United Arab Emirates (UAE) and Kazakhstan agreed to construct a grain terminal and develop a marine terminal at the Kuryk seaport, reported the Kazakh Ministry of Industry and Infrastructure Development on Aug. 15.
Abu Dhabi (AD) Ports Group, the leading facilitator of global trade, logistics, and industry, has signed a terms agreement with Almaty-based SEMURG INVEST (Semurg), the owner and developer of Sarzha multifunctional marine terminal in Kuryk seaport, to potentially invest in the grain terminal located at Kuryk port in Kazakhstan. The project will be implemented with the support of the Kazakh Invest National Company.
Under the terms of the agreement, the two companies would form a joint venture to invest, operate, and develop the Sarzha terminal into a multipurpose terminal.
“This project would be strategically important, particularly in the Trans-Caspian International Transport Route (TITR) context. Forming a joint venture with Semurg would be a key milestone in our Middle Corridor strategy,” said Abdulaziz Zayed Al-Shamsi, regional CEO at AD Ports Group.
According to Kazakh Deputy Foreign Minister Almas Aidarov, the United Arab Emirates (UAE) is Kazakhstan’s important trade and investment partner. In the first quarter, the UAE invested $209.7 million in the Kazakh economy, 2.5 times more than last year.
“From 2005 to the first quarter of this year, investments totaling $3.38 billion have been attracted. As of Aug. 1, some 250 companies with Arab capital operate in Kazakhstan,” said Aidarov.
Nurzhan Marabayev, general director of Semurg, highlighted that cooperation between the two companies would bring new impetus to developing the port in Kazakhstan, considering AD Ports Group’s experience and expertise.