UAE's ad Ports Group has signed a joint venture agreement with Kazakhstan Temir Zholy JSC (Kazakhstan Railways), a national railway company.
The joint venture is aimed at bolstering rail connectivity, maritime shipping services, and the overall development of operations within Kazakhstan's ports. The collaboration also seeks to expedite digital transformation and enhance connectivity throughout Central Asia, reports Greece's Container News.
Under the joint venture, AD Ports Group will hold a majority ownership stake of 51 per cent, while Kazakhstan Temir Zholy retains 49 per cent.
'Our joint venture with Kazakhstan Railways has the potential to not only strengthen maritime connectivity between the Middle East and Central Asia but also open up new trade routes, making it easier and more efficient to move goods across these two regions.
'Additionally, by leveraging our combined strengths, we are set to create a thriving regional economy, which will have a positive impact on the global maritime industry through increased demand for shipping and logistics services,' stated Abdulaziz Zayed Al-Shamsi, regional CEO of AD Ports Group.
Additionally, the joint venture will leverage Kazakhstan Railways' wealth of regional knowledge and practices, particularly in advanced vessel operations, logistics optimization, port development, and the expansion of railway infrastructure.
This ambitious undertaking is fully aligned with the shared objectives of AD Ports Group and Kazakhstan Temir Zholy, as they strive to revolutionize the regional logistics landscape and usher in a new era of efficiency and connectivity.
Yerlan Koishibayev, deputy CEO for Logistics of Kazakhstan Temir Zholy JSC (Kazakhstan Railways), said: 'The new joint venture will focus on expanding port infrastructure on the Caspian Sea, creating trade hubs and bringing advanced digital technologies.'
Implemented in phases, the joint venture will see both entities working together to advance maritime electronic systems, optimize vessel operations, and foster port and trade development.
SeaNews Turkey
The joint venture is aimed at bolstering rail connectivity, maritime shipping services, and the overall development of operations within Kazakhstan's ports. The collaboration also seeks to expedite digital transformation and enhance connectivity throughout Central Asia, reports Greece's Container News.
Under the joint venture, AD Ports Group will hold a majority ownership stake of 51 per cent, while Kazakhstan Temir Zholy retains 49 per cent.
'Our joint venture with Kazakhstan Railways has the potential to not only strengthen maritime connectivity between the Middle East and Central Asia but also open up new trade routes, making it easier and more efficient to move goods across these two regions.
'Additionally, by leveraging our combined strengths, we are set to create a thriving regional economy, which will have a positive impact on the global maritime industry through increased demand for shipping and logistics services,' stated Abdulaziz Zayed Al-Shamsi, regional CEO of AD Ports Group.
Additionally, the joint venture will leverage Kazakhstan Railways' wealth of regional knowledge and practices, particularly in advanced vessel operations, logistics optimization, port development, and the expansion of railway infrastructure.
This ambitious undertaking is fully aligned with the shared objectives of AD Ports Group and Kazakhstan Temir Zholy, as they strive to revolutionize the regional logistics landscape and usher in a new era of efficiency and connectivity.
Yerlan Koishibayev, deputy CEO for Logistics of Kazakhstan Temir Zholy JSC (Kazakhstan Railways), said: 'The new joint venture will focus on expanding port infrastructure on the Caspian Sea, creating trade hubs and bringing advanced digital technologies.'
Implemented in phases, the joint venture will see both entities working together to advance maritime electronic systems, optimize vessel operations, and foster port and trade development.
SeaNews Turkey
