PSA and Kazakhstan Railways join forces to enhance trade through the Trans-Caspian International Transport Route
PSA International Pte Ltd (“PSA”), a global ports and supply chain solutions provider, and Kazakhstan Railways (“KTZ”), the operator of the main railway network of the Republic of Kazakhstan, have signed an agreement to establish a joint venture company, KPMC Ltd (“KPMC”), according to the company's release.
KPMC will promote the development of the Trans-Caspian International Transport Route (TITR), enhancing connectivity and trade flows from Southeast Asia and China, through Kazakhstan, and beyond to Europe. The Agreement is subject to customary conditions including regulatory approval.
The TITR is a rail corridor route that connects China and Europe, offering cargo owners an additional intermodal transport option to help them balance their supply chain needs of resilience, agility and sustainability.
The partnership between KTZ and PSA aims to develop the TITR through initiatives such as the organisation of block trains and provision of station- to-station products and services. This increases cargo flow, improves transit times and reduces the cost of transportation through the TITR.
The agreement was signed during the Kazakhstan-Singapore Business Forum in Astana on 22 May 2023, in the presence of Singapore’s President Mdm Halimah Yacob and Kazakhstan’s Prime Minister Mr Alikhan Smailov.
PSA International (PSA) is a global port operator. PSA’s ports and cargo solutions portfolio comprises over 60 deepsea, rail and inland terminals, across 160 locations in 42 countries – including two flagship port operations in Singapore and Belgium, as well as affiliated businesses in supply chain management, logistics, marine and digital services.
