Kazakhstan, Azerbaijan, Georgia form railway JV to develop TITRRailway operators of Kazakhstan, Azerbaijan and Georgia have created a joint venture Middle Corridor Multimodal Ltd., to develop multimodal service on the Trans-Caspian International Transport Route (TITR), the press service of National Company Kazakhstan Temir Zholy (KTZh) JSC reported.“On October 26, 2023 NC Kazakhstan Temir Zholy JSC, Georgian Railway JSC and Azerbaijan Railways CJSC entered into an agreement to create a joint venture on a parity basis. New company Middle Corridor Multimodal Ltd. is formed on the basis of the Astana International Financial Center,” KTZh said in a statement released on Thursday.The document was signed at the Tblisi Silk Road forum.“The company will provide services on a one-stop-shop basis, guarantee delivery times, and pursue a coordinated policy for the development of multimodal service in the China-Europe/Turkey-China direction,” the message says.As reported, an agreement on the basic principles of a joint venture for the development of TITR was signed in June of this year. It was forecasted that the joint venture would reduce the time for goods delivery from China to Europe and back to 10-15 days.The Trans-Caspian international transport route runs through China, Kazakhstan, the Caspian Sea, Azerbaijan, Georgia and further to Turkey and European countries. The volume of cargo transportation along the TITR in 2023 may increase by 17.6% compared to 2022 - up to 2 million tonnes. The route's throughput capacity is expected to reach 10 million tonnes per year by 2025. (ICE ALMATY)

Fonte notizia: INTERFAX