The world’s largest marine and logistics operator COSCO Shipping invests in the development of the FEZ “Khorgos-Eastern Gate”
On May 15 of this year, within the framework of the ongoing One Belt � One Way International Cooperation Forum in Beijing, Kazakhstan Temir Zholy signed an investment agreement with COSCO Shipping Corporation and Lianyungang Port on the joint development of the Khorgos-Eastern Gate free economic zone.
Chinese investors will jointly make a purchase of a 49% stake in the dry port of Khorgos Gateway.
Attraction of strategic partners of international logistics will give an additional impetus to the development of the FEZ Khorgos-Eastern Gate and the creation of a large regional hub for consolidating and distributing cargo flows between Asia and Europe. FEZ Khorgos – Eastern Gate will become part of the architecture of global logistics services provided by COSCO Shipping and will ensure the integration of Kazakhstan’s transit corridors into the 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 the transport-logistics sphere that facilitates the integration of the Kazakhstani Nurly Zhol Program with the Chinese initiative Silk Way Economic Belt.
The signing ceremony was attended by First Deputy Prime Minister of the Republic of Kazakhstan Askar Mamin, Minister of Investments and Development of the Republic of Kazakhstan Zhenis Kassymbek, Minister of Foreign Affairs of the Republic of Kazakhstan Kairat Abdrakhmanov, Mayor of Lianyungang Xiang Xuelong.
COSCO Shipping is the world’s largest maritime operator and provider of logistics services. The corporation has more than 1100 ships with a total capacity of over 1.6 million containers, operates more than 300 international and domestic sea routes, connecting 254 seaports in 79 countries.
The port of Lianyungang is the largest Chinese sea harbor in the Yellow Sea, which is included in the 30 largest ports of the world with a throughput of more than 200 million tonnes and 5 million containers per year.
Source: Government of the Republic of Kazakhstan