SIMIC

SINGAPORE's major global ports and supply chain solutions provider, PSA International Pte Ltd (PSA) and Kazakhstan Railways (KTZ) have signed an agreement to establish a joint venture company KPMC Ltd (KPMC) to promote the development of the Trans-Caspian International Transport Route (TITR).

The union will enhance connectivity and trade flows from Southeast Asia and China, through Kazakhstan, and beyond to Europe. The Agreement is subject to customary conditions including regulatory approval.



The TITR is a rail corridor route that connects China and Europe, offering cargo owners an additional intermodal transport option to help them balance their supply chain needs of resilience, agility and sustainability.



"The partnership between KTZ and PSA aims to develop the TITR through initiatives such as the organization of block trains and provision of station-to-station products and services. This increases cargo flow, improves transit times and reduces the cost of transportation through the TITR," according a PSA statement.



Tan Chong Meng, Group CEO of PSA International, said: "This joint venture is a milestone moment for PSA, as it expands our global footprint into Central Asia, and reflects our continued commitment to enhance global connectivity and enable sustainable trade."



Wan Chee Foong, regional CEO Middle East South Asia & head of group business development of PSA International, said: "This synergistic partnership will not only bolster PSA's efforts to expand its rail product offerings but also empower KTZ to tap into new markets and establish itself as a pivotal player in the global logistics landscape."