The world's first overseas China Industrial Park will be built in Kazakhstan, a key project of China's Silk Road economic belt initiative, according to a source close to the deal.
Covering a land area of 400 hectares in the Caspian port of Aktau, the park will be jointly invested by the Xinjiang Sanbao Industry Group, a foreign trade enterprise, and the construction investment and development company under the Urumqi Economic and Technological Development Zone (UETDZ).
Its costs will be no less than 100 million U.S. Dollars, said Gulzipa Yilas, an officer with the management committee of the export processing zone of the UETDZ.
The first-phase construction involves a land area of 100 hectares. Upon its completion, ten to fifteen competent manufacturers will be chosen to enter the park, said Yilas.
Situated in the Aktau special economic zone, the park is only three kilometers away from the Aktau Port and enjoys a variety of preferential policies in line with Kazakhstan's laws on Special Economic Zone, said the officer.
As the Aktau port is Kazakhstan's only international terminal for the transportation of dry cargo, crude oil and oil products, this park will allow China to boost its trade with the countries who share the coastline of the Caspian Sea with Kazakstan, such as Russia, Azerbaijan, Iran and Turkmenistan, and facilitate Xinjiang's local enterprises to enter the overseas market, said Yilas.
GMT 15:13 2018 Saturday ,20 January
US 'erred' in supporting WTO membership for China, RussiaGMT 17:22 2018 Thursday ,18 January
US industrial output in 2017 posts biggest gain since 2010GMT 17:12 2018 Thursday ,18 January
No more bonuses for Carillion bosses after UK collapseGMT 17:20 2018 Wednesday ,17 January
EU to remove Panama, South Korea from tax haven blacklistGMT 17:16 2018 Wednesday ,17 January
Citigroup reports steep Q4 losses tied to US tax reformGMT 17:11 2018 Wednesday ,17 January
Pressure rises on British govt over Carillion collapseGMT 17:52 2018 Monday ,15 January
Iran jetliner deal could take longer to complete, Airbus saysGMT 17:44 2018 Monday ,15 January
EU to remove Panama, Korea, UAE, 5 others from tax haven blacklistMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor