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 in Kazakhstan, to potentially invest in the grain terminal of the port.
Under the terms of the agreement, the two companies would form a joint venture to invest, operate and develop the Sarzha terminal into a multipurpose one.
“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. This strategic move would come at a critical juncture, emphasising our Group’s commitment to expanding our presence in Central Asia,” commented Abdulaziz Zayed Al-Shamsi, regional CEO of AD Ports Group.
This latest deal of AD Ports follows the signing of a Memorandum of Understanding (MoU) with Kazakhkastan’s Ministry of Industry & Infrastructural Development in January for strategic cooperation in the development of a marine fleet and coastal infrastructure in the Caspian and Black seas.
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.
