15.08.2023, 17:45 119921

AD Ports Group Signs Heads of Terms Agreement with SEMURG INVEST LLP for Grain Terminal in Kuryk Port Kazakhstan

AD Ports Group, the leading facilitator of global trade, logistics, and industry, has signed a Heads of Terms (HoT) agreement with SEMURG INVEST LLP (Semurg), the owner and developer of Sarzha Mutifunctional Marine Terminal in Kuryk Port, to potentially invest in the grain terminal located at Kuryk Port in Kazakhstan, press service of the Ministry of Industry and Infrastructural Development reports.

Under the terms of the agreement, the two companies would form a joint venture to invest, operate, and develop Sarzha terminal into a multipurpose terminal.

The Heads of Terms agreement was 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, Renat Bekturov, Governor of the Astana International Financial Center.

As noted by Almas Aidarov, Deputy Minister of Foreign Affairs of the Republic of Kazakhstan, "The UAE is an important trade and investment partner of Kazakhstan. As of the first quarter of 2023, direct foreign investments from the UAE to Kazakhstan amounted to $209.7 million (a growth of 2.5 times compared to the same period of 2022, which was $83.1 million). From 2005 to the first quarter of 2023, investments totaling $3.38 billion have been attracted. As of August 1, 2023, there are 250 companies with Arab capital operating in Kazakhstan".

Abdulaziz Zayed Al-Shamsi, Regional CEO, AD Ports Group, said "This project would be of significant strategic importance, particularly in the context of the Transcaspian International Transport Route (TITR). Forming a joint venture with Semurg would be a key milestone in our Middle Corridor strategy."

He added, "This strategic move would come at a critical juncture, emphasising our Group's commitment to expanding our presence in Central Asia."

Nurzhan Marabayev, General Director, SEMURG INVEST LLP, said "Caspian Sea ports have emerged as pivotal hubs within the fast-growing global logistics supply chain. The cooperation between our two companies would bring new impulse to the ports development in Kazakhstan considering AD Ports Group’s experience and expertise."

This Heads of Terms agreement follows the signing of a Memorandum of Understanding (MoU) with the Ministry of Industry & Infrastructural Development in January 2023 for strategic cooperation in the development of a marine fleet and coastal infrastructure in the Caspian and Black seas. The MoU was signed in the presence of the UAE President, His Highness Sheikh Mohamed bin Zayed Al Nahyan, and the President of the Republic of Kazakhstan, Kassym-Jomart Tokayev.

Established in 2006, AD Ports Group today serves as one of the world’s premier facilitators of logistics, industry, and trade, as well as a bridge linking Abu Dhabi to the world. Listed on the Abu Dhabi Securities Exchange (ADX: ADPORTS), AD Ports Group’s vertically integrated business approach has proven instrumental in driving the emirate’s economic development over the past decade.

Operating several clusters covering Ports, Economic Cities & Free Zones, Maritime, Logistics, and Digital, AD Ports Group’s portfolio comprises 10 ports and terminals, and more than 550 square kilometers of economic zones within KEZAD Group, the largest integrated trade, logistics, and industrial business grouping in the Middle East.

Semurg Invest LLP is the owner and developer of Multifunctional Marine Terminal Sarzha in Kuryk port. The project is included in the Concept of the development of the transport and logistics potential of the Republic of Kazakhstan until 2030 and plays a significant role in the development of the Middle Corridor and diversification of export routes. The project includes several terminals such as Grain Terminal, Universal Cargo Terminal, Liquid Bulk Terminal, General Cargo Terminal, and Transport and Logistics Center. The total planned transshipment capacity of the project is 10 mln. tons per year.

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