ASTANA, Kazakhstan, August 15. Abu Dhabi Ports Group, a leading force in global trade, logistics, and industry facilitation, has entered into a Heads of Terms (HoT) agreement with Kazakhstan's SEMURG INVEST, the proprietor and developer of the Sarzha Multifunctional Marine Terminal in Kuryk Port, to potentially invest in the grain terminal located at Kuryk Port, Trend reports.
As outlined in the agreement, the two entities would establish a joint venture to invest, manage, and cultivate the Sarzha terminal into a versatile multipurpose facility.
The Heads of Terms agreement was formally signed by Abdulaziz Zayed Al-Shamsi, Regional CEO of AD Ports Group, and Nurzhan Marabayev, General Director of Semurg, in the presence of Marat Karabayev, Minister of Industry and Infrastructure Development of Kazakhstan, Almas Aidarov, Deputy Minister of Foreign Affairs, and Renat Bekturov, Governor of the Astana International Financial Center.
Abdulaziz Zayed Al-Shamsi, Regional CEO of AD Ports Group, remarked, "This project holds immense strategic significance, particularly in light of the Transcaspian International Transport Route (TITR). Collaborating with Semurg to establish a joint venture would mark a pivotal achievement in our Middle Corridor strategy."
He further emphasized, "This strategic step comes at a crucial moment, underlining our Group's dedication to expanding our presence in Central Asia."
Nurzhan Marabayev, General Director of SEMURG INVEST, stated that Caspian Sea ports have emerged as vital hubs within the rapidly growing global logistics landscape. The partnership between our two organizations would inject new energy into port development in Kazakhstan, leveraging AD Ports Group's experience and expertise.
This Heads of Terms agreement follows the earlier signing of a Memorandum of Understanding (MoU) in January 2023 with the Ministry of Industry & Infrastructural Development, aiming for strategic cooperation in the advancement of a marine fleet and coastal infrastructure in the Caspian and Black Seas. This MoU was signed in the presence of UAE President, His Highness Sheikh Mohamed bin Zayed Al Nahyan, and the President of the Republic of Kazakhstan, Kassym-Jomart Tokayev.