UAE port signs deals to acquire stakes in two Kazakhstan SEZs

DUBAI, Mar 25 (Xinhua): Dubai Ports (DP) World, the global port operator of the United Arab Emirates (UAE), signed on Saturday two framework agreements to acquire stakes in two Special Economic Zones (SEZs) of Kazakhstan.

The deals were signed by Sultan Ahmed Bin Sulayem, chairman and CEO of DP World, with Kanat Alpysbayev, president of Kazakhstan Temir Zholy (KTZ), and Yeraly Tugzhanov, governor of the Mangistau region of Kazakhstan, in the presence of Abu Dhabi Crown Prince Sheikh Mohammed Bin Zayed and visiting Kazakhstan's President Nurusltan Nazarbayev.

Under the deals, DP World will acquire a 51-per cent stake in the SEZ in Khorgos on the Kazakh side, and a 49-per cent stake in the SEZ in the Port of Aktau, said the UAE port giant in an emailed statement.