Kazakhstan Temir Zholy JSC, L.A.C. Holding (Hungary) and Xi’an Free Trade Port Construction and Operation Co., Ltd (China) signed a Memorandum of Cooperation in the field of transport and logistics. The document was signed in Budapest during the state visit of Kazakhstan’s President Kassym-Jomart Tokayev to Hungary.
The parties agreed to create a joint intermodal cargo terminal in Budapest. The Hungarian capital has a developed transport network for multimodal transportation across Europe. The terminal with a capacity of 230,000TEU per year will increase the number of container trains on the China-Europe-China route, including transit via the Trans-Caspian International Transport Route (TITR). The implementation of the project will help reduce delivery times, reduce transportation costs and transshipment time.
KTZ is actively expanding its presence abroad. The formation of a terminal network along key transport corridors contributes to the solution of the important task set by President Tokayev to strengthen Kazakhstan’s position as a key transit hub in Eurasia.
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