Dubai: DP World has entered into an advisory agreement with the Azerbaijan Ministry of Economy and the Port of Baku to develop a framework for the Alyat Free Trade Zone in Azerbaijan.
The future business hub is planned to become part of a network of economic zones in the country to develop the economy and to form part of the Eurasian trade corridor.
DP World already provides advisory services for the development of the Khorgos Special Economic Zone and Inland Container Depot in Kazakhstan with a similar arrangement under a separate contract for the Port of Aktau, the country’s main cargo and bulk terminal on the Caspian Sea.
“Our history of marine and inland terminal development, industrial zone and logistics coupled with experience of multi-modal transport connectivity honed through our global network is something which sets us apart as a business and where we can add value to our partners and governments,” DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, said in a statement.
The Alyat Free Trade Zone will occupy 20 square kilometres once fully developed, with DP World advising on its business plan, regulations governing special economic zones and a master plan for phase one of the project, which spans four square kilometres.
