JSC Kazakhstan Temir Zholy (KTZ), the Hungarian company L.A.C. Holding and the Chinese Xi’an Free Trade Port Construction and Operation Co. signed a Memorandum of Cooperation in the field of transport and logistics. The agreement was reached during the state visit of the President of Kazakhstan Kassym-Jomart Tokayev to Hungary. The memorandum envisages the creation of a joint intermodal cargo terminal in Budapest.
The terminal with a capacity of 230 thousand TEU per year will contribute to the increase in container transportation along the China-Europe-China route, including transit along the Trans-Caspian International Transport Route (TITR). The project is expected to help reduce delivery times, reduce transportation costs and improve transshipment processes.
KTZ is actively expanding its presence in Europe, developing a terminal network on key transport corridors. This is in line with Kazakhstan’s goal of strengthening its role as an important transit hub in Eurasia.