New agreements bring overall investment in Kazakhstan projects to US$ 775mn
AD Ports Group recently announced the signing and exchange of several diverse agreements to broaden its operations in Kazakhstan.
The exchange took place on the sidelines of the receent visit of HH Sheikh Khaled Bin Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, to the Republic of Kazakhstan.
During the visit, HH Sheikh Khaled Bin Mohamed Bin Zayed accompanied by Kassym-Jomart Tokayev, President of the Republic of Kazakhstan, attended the UAE–Kazakhstan Business Forum, held in the presence of senior officials, business leaders and investors from both nations.
Building on its strategic partnership with KazMunayGas (KMG), the national oil company of Kazakhstan, which began in December 2022, Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, and Askhat Galimovich Khassenov, Chairman of the Board for KazMunayGas, exchanged a signed agreement relating to Caspian and open sea fleet expansion.
Energy sector
Under its terms, the Group and KMG are working on commissioning up to four shallow-draft container ships designed for use on the Caspian Sea, each with a capacity of 780 Twenty Foot Equivalent Units (TEUs), and contemplating investing with KMG in up to four Aframax crude oil tankers to increase support to Kazakhstan’s energy sector.
Additionally, preliminary Heads of Terms were exchanged by Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, and Nurzhan Marabayev, the General Director of SEMURG Invest LLP, to establish a joint venture to design, develop, finance, and operate the Sarzha Multipurpose Terminal (SMT) at Kuryk Seaport on the Caspian Sea. The SMT terminal will be designed to handle general cargo, containers, and dry bulk cargoes.
