Baku:A significant agreement has been signed for the development of an intermodal cargo terminal at the Baku International Sea Trade Port. This development stems from a meeting between Shahin Babayev, Executive Director of AZCON Holding, and Nurlan Zhakupov, Chairman of the Management Board of Kazakhstan's Samruk-Kazyna National Welfare Fund, during a visit to Kazakhstan.

According to Azeri-Press news agency, the meeting resulted in the signing of two documents aimed at enhancing transport and logistics cooperation between Kazakhstan and Azerbaijan.

The first agreement is a strategic cooperation between Azerbaijan Transport and Communication Holding (AZCON) and Kazakhstan's Samruk-Kazyna, focusing on the "Caspian Bridge" project. This initiative aims to establish a next-generation Trans-Caspian ferry system, facilitating regular cargo transportation between the ports of Alat and Kuryk. The project will utilize modern ferries, develop specialized terminals, and integrate transport and logistics systems to improve sea crossing efficiency and competitiveness of the Middle Corridor.

Additionally, a heads of terms document was signed between Azerbaijan Railways CJSC and Kazakhstan Temir Zholy JSC concerning the establishment of an intermodal cargo terminal at the Baku port. This terminal is expected to enhance container and cargo flow, integrate port and railway operations, and boost transportation efficiency along the Middle Corridor.

The project includes plans for a joint venture to manage the terminal's operational and commercial activities, with further details on investment and financing to be determined based on technical and economic evaluations. The meeting also involved discussions on corporate governance, cooperation opportunities in the Middle Corridor, and maritime infrastructure projects.