Aktau, Kazakhstan (Ports Europe) May 23, 2023 – PSA International Pte Ltd and Kazakhstan Railways (KTZ) will establish a joint venture company, KPMC Ltd, to develop the Trans-Caspian International Transport Route (TITR, Middle Corridor). It aims to improve connectivity and trade flows from Southeast Asia and China, via Kazakhstan, to Europe.
The agreement was signed during the Kazakhstan-Singapore Business Forum in Astana on 22 May 2023, in the presence of Singapore’s President Mdm Halimah Yacob and Kazakhstan’s Prime Minister Alikhan Smailov.
TITR combines the countries participating in the new Silk Road project and important players of the region. Its members are leading maritime and transport companies from Kazakhstan, Azerbaijan, Georgia, Ukraine, China and Turkey. The organisation aims to develop the corridor, accelerate and simplify cargo transportation procedures between Asia and Europe, and make special preferential tariffs.
Management comment
Mr Tan Chong Meng, Group CEO of PSA International, said, “This joint venture is a milestone
moment for PSA, as it expands our global footprint into Central Asia, and reflects our continued
commitment to enhance global connectivity and enable sustainable trade. By partnering with
KTZ to develop a holistic physical and digital ecosystem for the users and stakeholders of the
Trans-Caspian International Transport Route, we seek to create a seamless and efficient
logistics network that offers cargo owners a vital and valuable option to improve the agility,
resilience and sustainability of their businesses.”
Mr Wan Chee Foong, Regional CEO Middle East South Asia & Head of Group Business
Development of PSA International, said, “PSA’s global presence with an established network
of ports and supply chain capabilities enables us to add value in the development and
commercialisation of TITR. This synergistic partnership will not only bolster PSA’s efforts to
expand its rail product offerings but also empower KTZ to tap into new markets and establish
itself as a pivotal player in the global logistics landscape.”
PSA International
PSA International Pte Ltd is a port operator and supply chain company, with flagship operations in Singapore and Antwerp. One of the largest port operators in the world, PSA has terminals across 26 countries, including deep sea, rail and inland facilities. PSA is also involved in distripark and marine services.
Kazakhstan Railways (KTZ)
JSC NC KTZ is a transport and logistics holding, an operator of the main railway network of the Republic of Kazakhstan, is a national railway carrier of goods and passengers.
The establishment of a regional railway company (KTZ) with an international logistics business (PSA) shows the increasing importance of regional transport corridors. Also, TITR does not run through Russia, a benefit to many traders when considering the current geopolitical situation regionally.
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