Azerbaijan and Kazakhstan plan to establish a joint intermodal cargo terminal and a new trans-Caspian ferry system called the "Caspian Bridge".
According to Samruk-Kazyna, Kazakhstan’s sovereign wealth fund and state-owned investment holding company, a Term Sheet was signed between Kazakhstan Temir Zholy (KTZ) National Company JSC and Azerbaijan Railways CJSC, outlining the main terms for the establishment of an intermodal cargo terminal and a joint venture.
The project aims to develop container and other freight transportation, with a priority focus on the Trans-Caspian International Transport Route (TITR).
The agreement was signed following a meeting between Samruk-Kazyna Chairman of the Management Board Nurlan Zhakupov and representatives of Azerbaijan's state-owned holding company AZCON.
Another agreement was also signed, providing for cooperation between Samruk-Kazyna JSC and AZCON Holding on the establishment of a new trans-Caspian ferry system, the "Caspian Bridge." The document outlines the main principles and areas of cooperation between the parties in preparing and implementing the project.
