The first joint venture on the Trans-Caspian transport route was created
Kazakh, Azerbaijani and Georgian railways entered into a deal to create a joint venture on a parity basis. The new company will be called Middle Corridor Multimodal Ltd. and will provide “one-stop services”, guarantee delivery times and pursue a coordinated policy for the development of multimodal services in the China-Europe and Turkey-China directions.
The document was signed at the Tblis Silk Road forum.
Railway workers from three countries have joined forces to develop multimodal services on the Trans-Caspian international transport route. The new company is being created on the basis of the Astana International Financial Center, the press service of Kazakhstan Temir Zholy reports.
Last June, Kazakhstan and Azerbaijan announced that they had reached an agreement to create a single operator of the Middle Corridor and said they expected Georgia to join soon. This single company will focus on unifying tariffs, handling all cargo in the Middle Corridor and reducing transit times to 10-15 days.
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