The 2nd of December, KazMunayGas (KMG) and AD Ports Group signed a Head of Terms in Dubai (UAE). The parties will study the potentials of a ship building and repair plant foundation in the Republic of Kazakhstan.
The bilateral document was signed by KMG CEO Magzum Mirzagaliyev and AD Ports Group CEO Mohammed Juma Al Shamisi in the presence of Kassym-Jomart Tokayev, President of Kazakhstan.
The document provides the main terms of cooperation. In particular, the parties will establish a joint working group to study the ship repair and shipbuilding plant construction feasibility at the shores of Caspian Sea in Kazakhstan.
“I believe that signing of the Head of Terms will be an important contribution to strengthening of the strategic partnership between our countries. To follow the instruction of the Head of State Kassym-Jomart Tokayev, we have started to study the feasibility of shipyard foundation on the territory of the Republic of Kazakhstan. We plan to adopt a rich experience and expertise of AD Ports Group in ship repair services as well” — KMG CEO Magzum Mirzagaliyev said.
Foundation of own ship repair and shipbuilding enterprise will give great opportunities to a comprehensive cycle of marine transport services, including construction of new ships and high-quality repair of the existing ones. It also contributes to the development of the region’s economy, job creation and growth of technological potential in the maritime industry.