New $300M port to be built in Kazakhstan's Aktau

A new $300 million seaport is planned for construction in Kazakhstan's Aktau, Report informs referring to the Khabar News Agency which cites Nurdaulet Kilybay, the head of the Mangystau region.

He noted that the strategic partner is the Chinese group of companies Zhongyong International.

The investor has already registered the company in the region and is preparing documents for signing an investment agreement, the regional governor emphasized.

"The project will contribute to the formation of a new international transport corridor: China – Kazakhstan – Aktau – Baku – Poti – Europe. Its implementation will reduce cargo delivery times by 7-15 days, reduce transportation costs by 18-25%, and create new jobs," Kilybay noted.