Senate adopted amendments to transport legislation

Senator Zhumabek Toregeldinov, who introduced the draft law, said that its main purpose was to establish a legal framework for the implementation of the President's instructions on ensuring the formation of Kazakhstan as a transport and logistics hub. President Nursultan Nazarbayev has also commissioned to create a transport and logistics company on the basis of JSC "NC" Kazakhstan Temir Zholy (KTZ). KTZ accepts responsibility for ensuring that traffic through the port of Aktau.

As explained by Senator the single transport and logistics operator and the inclusion of the Aktau port will increase the transit through the territory of Kazakhstan twofold, and give additional profit of USD 2.8 billion a year.

The bill provides for amendments to these laws, providing the possibility of transferring seaports with the status of international importance, in return for shares of the national management holding to the national company in the manner prescribed by the Government. Conversion of Aktau Sea Port in the joint-stock company under the management of KTZ will allow to modernize and expand the port at the expense of Kazakhstan Temir Zholy and Samruk-Kazyna.