Azerbaijan, Kazakhstan create JV for dredging work in Caspian Sea

BAKU. April 2 (Interfax) - Azerbaijani and Kazakh state companies have signed a document on creating a joint venture for dredging work in the two countries' ports, Azerbaijani Digital Development and Transport Minister Rashad Nabiyev said on the social network X when commenting on the results of a meeting with the chairman of the board of Kazakhstan's Samruk-Kazyna state fund, Nurlan Zhakupov, who was visiting Baku.

Azerbaijan Transport and Communications Holding (AZCON) and Samruk-Kazyna Invest LLC, a subsidiary of the state fund, have signed a shareholders' agreement on acquiring a dredging vessel and creating a joint venture for carrying out dredging work, Nabiyev said.

"During the meeting, the current state and prospects for developing bilateral cooperation in transport and logistics were also discussed. We also exchanged views on the results achieved and the main objectives within the framework of the joint project for dredging work in Azerbaijani and Kazakh ports," he said.

The state holding AZCON was established by a decree of Azerbaijani President Ilham Aliyev in 2024. It manages enterprises transferred to it, including CJSC Azerbaijan Caspian Shipping Company (ASCO), CJSC Azerbaijan Railways, CJSC Baku Shipyard, Azerbaijan Airlines and Aztelekom.

The Samruk-Kazyna state fund manages Kazakhstan's largest strategic companies, including Air Astana, Kazakhtelecom, Kazatomprom, KazMunayGas, KEGOC and others.