Azerbaijan and Kazakhstan sign two key documents on Middle Corridor
A delegation led by Shahin Babayev, CEO of AZCON Holding, has met in Kazakhstan with a delegation headed by Nurlan Zhakupov, Chairman of the Management Board of the Samruk-Kazyna Sovereign Wealth Fund.
Operativ Media reports, citing the press service of AZCON Holding.
During the meeting, the sides signed two documents aimed at expanding transport and logistics cooperation between Azerbaijan and Kazakhstan.
The first document is a cooperation agreement between the Azerbaijan Transport and Communication Holding (AZCON) and Kazakhstan's Samruk-Kazyna Sovereign Wealth Fund. It outlines the main directions of strategic cooperation to establish a new-generation Trans-Caspian ferry system named "Caspian Bridge" ("Super Ferry").
The project provides for regular cargo transport via modern, high-capacity ferries between the ports of Alat and Kuryk, the development of specialized terminals, and the establishment of a unified transport and logistics system. Key goals include reducing sea transit and port processing times, increasing transport reliability, and boosting the competitiveness of the Middle Corridor. The project will thereby help reinforce transport connections across the Caspian basin and create more sustainable logistics capabilities for international freight flows.
The second document—a term sheet setting out the principles of cooperation to create an intermodal cargo terminal at the Baku International Sea Trade Port—was signed between Azerbaijan Railways CJSC, an AZCON Holding portfolio company, and Kazakhstan Railways JSC (Kazakhstan Temir Zholy).
The new terminal aims to attract container and other freight traffic, strengthen integration between port and rail operations, and enhance transit efficiency along the Trans-Caspian International Transport Route (Middle Corridor).
Under the project, a joint venture will be established to manage the commercial and operational activities of the terminal. In the next phase, the investment model and financing terms will be finalized based on the project's feasibility study.
The meeting also included an exchange of expertise on corporate governance and coordination among portfolio companies, as well as discussions on potential collaboration regarding the Middle Corridor, dredging operations, and maritime infrastructure projects.
