DP World to Take Part in Azerbaijan’s Alyat FTZ Development
- Business & Finance
Dubai-based port and terminal operator 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 country’s Alyat Free Trade Zone.
The future business hub is expected to become part of a network of economic zones in Azerbaijan, to develop the economy and to form part of the Eurasian trade corridor, DP World said.
Once fully developed, the Alyat Free Trade Zone will occupy 20 square kilometers, 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 kilometers.
The port and terminal operator said it 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.