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World biggest naval and logistic operator COSCO Shipping to invest into development of SEZ Khorgos-Eastern Gates

15.05.2017 Almaty. May 15. KazTAG - The world biggest naval and logistics operator COSCO Shipping will inject investments into development of "Khorgos-Eastern Gates" special economic zone (SEZ).
Kazakhstan Temir Zholy signed an investment agreement with COSCO Shipping corporation and the port of Lianyungang on joint development of free economic zone Khorgos-Eastern Gates on May 15 within the frameworks of the international cooperation forum "One Belt-One Way" in Beijing.
The Chinese investors will acquire 49% stake in the Dry port Khorgos gateway.
Attraction of strategic investors of international logistics will boost the development of Khorgos-Eastern Gates SEZ and create big regional hub for consolidation and distribution of freights flow between Asia and Europe.
SEZ Khorgos-Eastern Gates will become a part of architecture of global logistic services provided by COSCO Shipping company and provide integration of Kazakhstani transit corridors into the international logistics network.
The agreement is aimed at further cooperation development between the Republic of Kazakhstan and the People's Republic of China in the transport-logistics field which is supposed to couple Kazakhstani program "Nurly zhol" with the Chinese initiative "Economic belt of Silk Way".
The signing ceremony involved Askar Mamin, Prime Minister of Kazakhstan, Zhenis Kasymbek, Minister of Investments and Development of Kazakhstan, Kairat Abdrakhmanov, Foreign Minister of Kazakhstan, mayor of Lianyungang Xiang Xuelong.
COSCO Shipping is the world biggest naval operator and provider of logistic services. The corporation has more than 1100 vessels with more than 1.6 mln containers capacity, it operates more than 300 international and domestic sea routes uniting 254 ports in 79 states of the world.
Lianyungang port is the biggest port of China in the Yellow Sea which is among 30 biggest ports of the world with shipping volume more than 200 mln tons and 5 mln containers per annum.