AD Ports, Semurg invest in Kazakhstan’s grain terminal

AD Ports, Semurg partner to invest in Kazakhstan's grain terminal

AD Ports Group has signed a Heads of Terms (HoT) agreement with Semurg Invest LLP, the owner and developer of the Sarzha Multifunctional Marine Terminal in Kuryk Port, to potentially invest in Kazakhstan’s grain terminal.

The two corporations agreed to create a joint venture to invest in, manage, and expand the Sarzha terminal into a multifunctional terminal.

Abdulaziz Zayed Al-Shamsi, Regional CEO of AD Ports Group, and Nurzhan Marabayev, General Director of Semurg inked the HoT agreement.

READ: AD Ports, Shandong Ports Group strengthen partnership

Abdulaziz Zayed Al-Shamsi, Regional CEO, AD Ports Group, said: “This project would be of significant strategic importance, particularly in the context of the Transcaspian International Transport Route (TITR). Forming a joint venture with Semurg would be a key milestone in our Middle Corridor strategy.”

Al-Shamsi added: “This strategic move would come at a critical juncture, emphasising our group’s commitment to expanding our presence in Central Asia.”

Nurzhan Marabayev, General Director, Semurg Invest LLP, stated: “Caspian Sea ports have emerged as pivotal hubs within the fast-growing global logistics supply chain.

“The cooperation between our two companies would bring new impulse to the ports development in Kazakhstan considering AD Ports Group’s experience and expertise.”

This HoT agreement comes after the signing of a Memorandum of Understanding (MoU) in January 2023 with the Ministry of Industry and Infrastructure Development for strategic collaboration in the construction of a maritime fleet and coastal infrastructure in the Caspian and Black seas.

More recently, AD Ports Group announced its financial results for the second quarter of 2023, reporting a revenue growth of 66 per cent year-on-year (YoY) to AED2.1 billion ($571 million).

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