COSCO Shipping to invest in Khorgos - Eastern Gate

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ASTANA. KAZINFORM Today, within the framework of the Belt and Road International Cooperation Forum in Beijing, Kazakhstan Temir Zholy signed an investment agreement with COSCO Shipping and Port Lianyungang on joint development of the free economic zone Khorgos-Eastern Gate, KTZ press service reports.

Two Chinese investors will purchase 49 percent stake in the dry port of Khorgos Gateway.

Strategic international partnerships will give an additional impetus to the development of the FEZ Khorgos - Eastern Gate and the creation of a large regional consolidation and distribution hub.

FEZ Khorgos - Eastern Gate is set to become part of the COSCO Shipping's global logistics structure and will ensure the integration of Kazakhstan transit corridors into international logistics network.

The signed agreement is aimed at further development of cooperation between the Republic of Kazakhstan and the People's Republic of China in transport and logistics and facilitating the integration of Kazakhstan's "Nurly Zhol" program with the Chinese "Economic belt of the Silk Road" initiative.

The signing ceremony was attended by the First Deputy Prime Minister of Kazakhstan Askar Mamin, Minister for Investment and Development of Kazakhstan Zhenis Kassymbek, Foreign Minister Kairat Abdrakhmanov, and Mayor of Lianyungang Xiang Xuelong.

 

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