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AD Ports Group to invest in Kuryk Port, Kazakhstan

news agency wam , 15 Jan 2025 - 16:08

AD Ports Group, a UAE state-owned company that operates in the field of port management and development, announced that it has signed a Foundation Agreement with SEMURG INVEST LLP, the owner and developer of Sarzha Multifunctional Marine Terminal at Kuryk Port, Kazakhstan.


According to Amac News: Based on the terms of this agreement, AD Ports Group will own 51% and SEMURG will own 49% of the shares in the Sarzha Grain Terminal Partnership.
This partnership has started the construction of a grain terminal on an empty land in Kuryk port. After the completion of the first phase, the terminal will have the capacity to handle 570,000 tons of grain cargo per year.
With the construction of the second stage, this capacity will increase to 1.5 million tons per year.
Sarzha grain terminal will have a total investment of more than 50 million dollars, of which about 30 million dollars will be provided by AD Ports Group.
With the completion of the first phase in the second half of 2026, the Sarzha grain terminal will help boost global food trade and connect Kazakhstan to Europe via the Trans-Caspian international shipping route.
Abdulaziz Zayed Al Shamsi, Regional Managing Director of AD Ports Group, said that the group's partnership with SEMURG is another milestone in the group's Middle Corridor strategy.
He added: "This investment shows our group's commitment to expanding its presence in Central Asia, especially Kazakhstan."
On the other hand, Nurzhan Marabayev, CEO of SEMURG INVEST LLP, said that this project will contribute to the diversification of the export routes of Kazakhstan's goods, increasing the export and transit potential of the Trans-Caspian route and the development of the economy of the Mengistau region.
 


Story Code: 2591

News Link :
https://www.amacnews.com/en/news/2591/ad-ports-group-to-invest-in-kuryk-port-kazakhstan

AMAC
  https://www.amacnews.com