“Azerbaijan Caspian Shipping Company” CJSC and “Kazakhstan Railways” JSC create a joint venture.
The Chairman of “Azerbaijan Caspian Shipping Company” CJSC Mr. Rauf Veliyev and President of “Kazakhstan Railways” JSC Mr. Kanat Alpysbayev signed an agreement on the establishment of a joint venture.
The joint venture will play a significant role in the further development of the Trans-Caspian International Transport Route and in the effective use of its potential. The joint venture, created entirely on a parity basis, involves cooperation between the Caspian Sea Shipping Company and the Kazakhstan Railways in the field of cargo transportation through the Caspian Sea by ferries and dry cargo vessels, as well as attraction of additional volumes of cargo to this corridor.
As is well-known, the Azerbaijan Caspian Sea Shipping Company intends to put into operation a new dry cargo vessel in the Caspian Sea in the near future. Along with this, two unique new generation ferries, which are under construction in Azerbaijan by order of the Azerbaijan Caspian Shipping are expected to be commissioned soon. Company. Kazakhstan is also expected to hand over ferries for operation in the Caspian Sea. The attraction of these vessels to cargo transportation along the Caspian Sea in the future will allow to enhance the potential of the Trans-Caspian corridor. The joint venture will play an important role in transporting increasing volumes of container cargos between Asia and Europe through the Trans-Caspian Corridor and implementing close cooperation between the countries in this direction. At the same time, the functioning of the joint venture will positively affect the implementation of the strategy of turning Azerbaijan into a transport and logistics center of the region.
It should be noted, that in December 2016, Azerbaijan Caspian Shipping Company and Kazakhstan Railways signed an agreement on a strategic cooperation. According to the signed agreement, the countries entered into an agreement on the following: attracting investments to current projects and projects, planned to implement in the short term in the transport sector; increasing of cargo transportation through the ports of Azerbaijan and Kazakhstan; development of the working plan on a cargo transportation in various directions; utilizaion of the existing infrastructure of the countries, particularly, shipbuilding, ship repairing services, cargo handling capacities, etc .; further development of cooperation in the field of providing logistics and agency services.