German Chancellor Scholz in Central Asia: Rhenus boosts investments in the Trans-Caspian Transport Route

SINGAPORE - Media OutReach Newswire - 17 September 2024 - As part of German Chancellor Olaf Scholz's trip to Central Asia, delegation member Tobias Bartz, CEO and Chairman of the Rhenus Group, is intensifying two significant projects in the region. In Samarkand, as the first in a series of initiatives, the agreement was signed to establish a joint venture with AO "Uztemir'yolkonteyner," a subsidiary of the Uzbek Railways. Specific plans for a modern logistics center in Andijan are to be realized on this basis. In addition, Bartz signed a declaration of intent with the Kazakh company NC "Aktau Sea Commercial Port" JSC for the development of an intermodal terminal in the port of Aktau, Kazakhstan.

As a logistics service provider with global operations, the Rhenus Group is driving a large number of projects and investment plans in Central Asia. The company has had a presence there – in a region that is pivotal for the exchange of goods between Asia and Europe and plays a key role for the company – for almost 30 years. The visit by German Chancellor Olaf Scholz, who was accompanied by, among others, Tobias Bartz, CEO and Chairman of the Rhenus Group, underscores the growing importance of the economic ties between Germany and the Central Asian countries of Kazakhstan and Uzbekistan.

"The Eurasian corridor is not only a trade route of international significance that contributes to the EU's diversification strategy, but also a strategic lever for the global economy. Through our investments in Kazakhstan and Uzbekistan, which are supported by the governments of both these states as well as Germany, we are boosting regional infrastructure and reinforcing the position of German industry and the local export trade in the global market," says Tobias Bartz, emphasizing the point.

The Rhenus Group's majority interest in the joint venture with the Uzbek Railways, which is planning a logistics center in Andijan, marks a pioneering project in the transport sector. In addition to developing an efficient container terminal in the port of Aktau on the Caspian Sea on the alternative route to the new Silk Road, a project that was launched in the presence of the German President in 2023, the Group of companies is driving further projects for terminals in Kazakhstan's economic hubs.

These initiatives are complemented by strategic measures undertaken by the logistics service provider in the South Caucasus. Combined with a strong presence in Turkey, this will allow the creation of a seamless supply chain along the Trans-Caspian International Transport Route, known as the Middle Corridor between Europe and China via Central Asia.

Hashtag: #Rhenus

The issuer is solely responsible for the content of this announcement.

About Rhenus

The Rhenus Group is one of the leading logistics specialists with global business operations and annual turnover amounting to EUR 7.5 billion. 40,000 employees work at 1,320 business sites in more than 70 countries and develop innovative solutions along the complete supply chain. Whether providing transport, warehousing, customs clearance or value-added services, the family-owned business pools its operations in various business units where the needs of customers are the major focus at all times.