Azerbaijan, Kazakhstan establish JV for dredging work in Caspian Sea

Azerbaijan and Kazakhstan have agreed to establish a joint venture aimed at advancing dredging operations and maritime infrastructure development through a shareholders’ agreement between AZCON Holding and Samruk-Kazyna Invest LLC, a subsidiary of Samruk-Kazyna.

Commenting the latest news, Azerbaijan’s Minister of Digital Development and Transport, Rashad Nabiyev, said: “We held a meeting with Nurlan Zhakupov, who is on a business visit to our country.”

“During the meeting, we discussed the current state and prospects of bilateral ties in transport and logistics. We also exchanged views on the results achieved and key objectives within the joint project on dredging operations at ports in Azerbaijan and Kazakhstan.”

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.