BAKU, Azerbaijan, June 2. Kazakhstan Temir Zholy (KTZ) and Singapore's PSA International, one of the world's largest operators of container port terminals, signed an agreement on the creation of a joint venture, Trend reports.
The agreement was signed during the Kazakhstan-Singapore Business Forum in Astana.
The main focus of the joint venture's activity will be to promote the development of the Trans-Caspian International Transport Route and hence, to contribute to enhancing connectivity and trade flows from Southeast Asia and China, through Kazakhstan, and to Europe.
The collaborative effort with the transnational holding focuses on addressing a crucial objective outlined by President Kassym-Jomart Tokayev of Kazakhstan: the development of the country's transport and transit capabilities.
PSA's expertise and advanced technologies will create new avenues for expanding transportation networks and integrating Kazakhstan's transport corridors with major global hubs, thereby unlocking additional opportunities for growth and development.