business and economy
Kaztemirtrans, Kazmortransflot pool efforts to develop transport infrastructure
(SRI) - Kaztemirtrans (subsidiary of Kazakhstan Temir Zholy) and Kazmortransflot signed a memorandum of cooperation to upgrade and expand transport infrastructure, Kaztemirtrans announced on Friday.
According to the memorandum, the companies have agreed to bolster cooperation in the rail and marine transport, joint cargo transport across the Caspian Sea, and comprehensive support to initiatives intended to raise cargo traffic via the Caspian port in Aktau.
Kaztemirtrans is the largest freight car fleet operator in Kazakhstan and accounts for over 56 percent of all railway cargo transported in the country. Founded in October 2003, it is a wholly-owned subsidiary of Kazakhstan Temir Zholy, the national railway company.
Kazmortransflot was founded by the government in December 1998 to bolster the sea transport in the country and create a national merchant shipping company.
Both Kazmortransflot and Kazakhstan Temir Zholy are incorporated into Samruk, the state holding company.
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