Baiterek Holding signs memorandum for Kuryk Port development
Kazakhstan’s Baiterek Holding has signed a memorandum of cooperation with China’s Guoyou Materials Group concerning a proposed US$1 billion investment project for the development of Kuryk Port.
The agreement was signed during the Kazakhstan Global Investment Roundtable 2026 (KGIR-2026), held in Shymkent under the chairmanship of Prime Minister Olzhas Bektenov. It establishes a framework for cooperation on the construction of a multifunctional terminal as part of the port’s first development phase.
The memorandum was signed by Rustam Karagoishin, Chairman of the Board of Baiterek Holding, and Yu Boyan, Chairman of the Board of Directors of Guoyou Materials Group. Baiterek Holding is considering the possibility of providing comprehensive support for the project through the financial and investment instruments available to its subsidiaries.
New terminal planned for Kuryk Port
The proposed development includes a multifunctional terminal with an initial annual cargo handling capacity of 15 million tonnes, with the possibility of further expansion.
The project is intended to strengthen port infrastructure in Kazakhstan’s Mangystau region and improve cargo transportation opportunities along the Trans-Caspian International Transport Route.
According to the announcement, the development is also expected to support Kazakhstan’s transit capabilities and improve access to international markets for domestic exporters.
Guoyou Materials Group specialises in international trade, logistics and supply chain management. Headquartered in Tianjin, China, the group comprises 33 subsidiaries and operates in Kazakhstan through Kazakhstan Guoyou Investment, which is involved in a port and logistics project in the Mangystau region.
Financial structure remains under discussion
Although the memorandum concerns a project valued at US$1 billion, the announcement does not confirm a final financing agreement or the allocation of the full investment amount.
Further discussions between Baiterek Holding and Guoyou Materials Group are planned to address the project’s financial model, potential support mechanisms and subsequent implementation steps.
The Baiterek delegation at KGIR-2026 also included Anna Lukina, Managing Director of the Holding, and Vladimir Li, Deputy Chairman of the Board of the Development Bank of Kazakhstan.
The investment roundtable brought together government representatives, international financial institutions and foreign companies to discuss long-term investment and projects in priority sectors of Kazakhstan’s economy.
The Kuryk Port initiative remains at the cooperation and project-development stage, with financing arrangements and implementation details still to be determined.
