Economy
Posted: 3 months ago

Trans-Caspian Route development - Georgia-Azerbaijan-Kazakhstan Plan to Establish Joint Venture

Georgia, Azerbaijan, and Kazakhstan are considering establishing a joint venture.

The tripartite company aims to work on the development of road freight and the development of the Trans-Caspian International Route (TITR).

The joint venture will resolve the issues of pervasive tariffs and declarations. Provides integrated IT solutions and consolidation of transit cargo.

According to the operative headquarters of the anti-crisis measures with the Government of Kazakhstan, active work is underway on the development of the TMTM corridor.

"The approved capacity of the route by 2022 is more than 30,000 TEU. However, given the current situation, it is possible to increase the volume by 2 times. Kazakh exporters plan to divert up to 2 million tonnes of cargo to TMTR from other routes, including petroleum products, metal products, and coal, with the prospect of increasing it to 4 million tonnes," said Kazakh Industry and Infrastructure Development Minister Kayrebek Us.

TITM routes are Aktau / Kurik - Baku - Batumi / Poti - Varna / Burgas (Bulgaria) or Constanta (Romania), as well as Aktau / Kurik - Baku - Railway route Baku-Tbilisi-Kars - Turkey.

This corridor can transport up to 10 million tons, including up to 200,000 containers.