KTZ Express, the transport and logistics subsidiary of Kazakh Railways, and Iran’s IRISL state shipping company signed an agreement on creation of a joint venture on Thursday. The document also provides for construction of a joint terminal in the Iranian port of Bandar Abbas on the Persian Gulf, KTZ Express said in a statement.

"The agreement is aimed at organizing efficient and cost effective transportation and logistics services between Iran, Kazakhstan, and CIS countries, as well as in ports of the Caspian Sea, the Persian Gulf, and on other routes," the statement said.

The period of construction and the technical specifications of the terminal in the port of Bandar Abbas are not yet known.

As reported, KTZ Express is part of the Kazakhstan Temir Zholy company (Kazakh Railways). KTZ Express is responsible for organizing the company’s supply chain and managing its wagon and container fleets. KTZ Express also manages the state shipping company, KTZ Express Shipping, a dry port in Khorgos (on the border with China), and airports in Kazakhstan.