AD Ports Group has signed a Heads of Terms (HoT) agreement with SEMURG INVEST LLP (Semurg), the owner and developer of Sarzha Multifunctional Marine Terminal in Kuryk Port, to potentially invest in the grain terminal located at Kuryk Port in Kazakhstan.
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.
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.
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“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.