Kazakhstan Plans Caspian Hub to Boost Exports to Regional Countries

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Kazakhstan is developing a Caspian Hub aimed at the countries of the Caspian region (Azerbaijan, Turkmenistan, Iran, Russia), which collectively have a population of over 100 million, according to Minister of Trade and Integration Arman Shakkaliyev, The Caspian Post reports citing Report.

"The Caspian Hub is aimed at the Caspian region countries (Azerbaijan, Turkmenistan, Iran, Russia) with a population of over 100 million people. The project involves building a facility for container storage and transshipment from railway cars to sea containers, as well as providing quality handling services," Shakkaliyev stated at the government meeting on December 10.

Shakkaliyev said that the construction of such facilities will accelerate trade interaction with bordering countries, increase non-resource exports by 30%, and simplify logistics procedures for business.

Vice Minister of Transport Maksat Kaliakparov noted in his speech that work is in full swing to modernize the seaports of Aktau and Kuryk as part of the Caspian Hub development.

"In the port of Aktau, the implementation of a container hub construction project has begun. The completion of works is planned for the end of next year. Its implementation will increase the port's capacity to 250,000 TEU per year. As for the port of Kuryk, a new grain terminal with a capacity of 1 million tons per year was launched this year," said Kaliakparov.