Kazakhstan Temir Zholy (KTZ) signed an investment agreement with COSCO Shipping Corporation and Lianyungang Port on the joint development of the free economic zone Khorgos-Eastern Gateway. The parties signed the agreement during the One Belt, One Road” International Cooperation Forum in Beijing.
Under the agreement, the Chinese investors will jointly make a purchase of a 49% stake in the dry port of Khorgos Gateway.
FEZ Khorgos – Eastern Gateway will become part of the global logistics services provided by COSCO and will ensure the integration of Kazakhstan transit corridors into the international logistics network.
The signed agreement is aimed at further development of cooperation between the Kazakhstan and China in the transport and logistics sector that facilitates the interaction of the Kazakhstan programme “Nurly zhol” and “The Economic belt of the Silk Road” with the Chinese initiative.
Attraction of strategic partners of international logistics will give an additional impetus to the development of the Khorgos – Eastern Gateway and the creation of a large regional hub for the consolidation and distribution of cargo flows between Asia and Europe.
The special economic zone “Khorgos – Eastern Gateway” with area of 600 hectares and 4,500 hectares of land, which is in reserve, strategically located on the border between Kazakhstan and China in the territory of Kazakhstan. The SEZ is created to enhance the export-transit potential of Kazakhstan in the Eurasian region, the development of competencies in the field of global logistics, attraction of foreign investment.
More than 70,000 containers were handled through the Khorgos dry port during its first year of operation and by 2020, the terminal will be able to process more than 500,000 containers.
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