China's Guoyou Materials Industry Group will build a new multimodal transport hub at the Port of Kuryk on Kazakhstan's Caspian Sea coast.
The hub will be built as a gateway to expand Kazakhstan's export capabilities by providing a link between Europe, Central Asia, and Asia. The facility is expected to achieve an annual handling capacity of 15 million tons upon completion of the first phase of the project.
President of Kazakhstan Kassym-Jomart Tokayev said he expects the project will help enhance the country's maritime and rail logistics network, expand the scope of transport infrastructure in the region, and increase both export and transit potential.
The project is in line with the Government of Kazakhstan's goal of having the country become a full-fledged transport hub for Eurasia.
The Port of Kuryk forms part of the Trans-Caspian International Transport Route, also known as the Middle Corridor.
This maritime trade route that passes through the Caspian and Black Seas has been regarded as a reliable alternative to the northern route through Russia, or the southern route via the Suez Canal.
