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Turkmenistan will create its own logistics hub in the port special economic zone of the Caspian cluster

Today during the Russian-Turkmen business forum in Ashgabat a cooperation agreement and memorandum of intentions to establish a logistics hub of Turkmenistan in the port special economic zone of the Astrakhan region were signed. The documents were signed by Sergey Milushkin, Director General of SEZ Lotus JSC, and Merdan Byashimov, Acting Director General of Transport and Logistics Centre of Turkmenistan JSC, in the presence of Alexey Overchuk, Deputy Prime Minister of Russia, and Rashid Meredov, Deputy Prime Minister and Foreign Minister of Turkmenistan.

The parties agreed to work together to increase freight traffic along the International North—South Transport Corridor (INSTC) across the Caspian Sea and to start working on the investment project for the creation of a logistics hub in the in the port special economic zone of the Caspian cluster. According to the memorandum, after the Turkmen side has prepared a logistics hub project and made a preliminary assessment of the required investments, a road map for the project implementation will be developed and an agreement on the establishment of the logistics hub will be concluded.

— We have agreed to start a big joint work. We need to work out all the technical and organizational issues for the creation of the logistics hub, which will essentially be the first of its kind and will serve as an example for our other partners from the Caspian littoral states. We have identified several land plots in the port SEZ near berths 8 and 9 of the port Olya. Infrastructure is already being created there, and the anchor resident facilities for containers, grain and oil transshipment are being built. The creation of Turkmenistan’s logistics hub in SEZ will stimulate the development of freight traffic from Central Asia to Russia and back, and also will connect other countries that do not have direct access to the INSTC," comments Sergey Milushkin, Director General of SEZ Lotus JSC.

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