At the Tashkent Investor Forum on the Trans-Caspian International Transport Corridor, a grant agreement from the European Union for the port of Aktau was signed, attended by Dauren Kutpanbayev, director of the port. The agreement finalizes a financial package comprising a €35 million EBRD loan and a €10 million EU grant as a non-repayable portion of the financing.
The port of Aktau has been recognized by the EU and EBRD as a key link in the Trans-Caspian route, as confirmed by their joint research on developing sustainable transport links between Europe and Central Asia. The allocated funds will be used to reconstruct and extend two berths, as well as to purchase all-weather quay cranes. This will increase container handling capacity, increase general cargo throughput by more than 0.5 million tonnes, and ensure the simultaneous servicing of four full-size vessels.
Against the backdrop of growing transport volumes, the EU has already earmarked €10 billion for the development of the Trans-Caspian route. Kazakhstan, as a central location in this corridor, can count on modernization of its port, rail, and logistics infrastructure, which will strengthen the country’s role as a key transit hub in the region and ensure further growth in transit revenues.