Kuryk: Baiterek and Guoyou Materials sign a $1 billion MoU on a 15 Mt/year terminal

Baiterek National Investment Holding and China's Guoyou Materials Group have signed a memorandum of cooperation on building a multifunctional terminal at Kuryk Port on the Caspian. The investment project is valued at $1 billion. Interfax-Kazakhstan, Kazinform and Baq.kz reported this on 22 October 2026, citing the holding's press service.

The document was signed by Baiterek Chairman of the Management Board Rustam Karagoishin and Guoyou Materials Group Chairman of the Board Yu Boyang at the Kazakhstan Global Investment Roundtable 2026 (KGIR-2026) in Shymkent. The memorandum covers the first phase of the port's development: a multifunctional terminal with capacity of up to 15 million tonnes of cargo a year and scope for further expansion. Baiterek is considering comprehensive support for the project through its subsidiaries' instruments.

Tianjin-headquartered Guoyou Materials Group specialises in international trade, logistics and supply chain management and comprises 33 subsidiaries; in Kazakhstan it operates through Kazakhstan Guoyou Investment. According to Kazinform, the parties will next discuss the project's financial model and support mechanisms. Financing terms and construction timelines were not disclosed.

For Gateway Logistics project cargo on the Caspian, growing capacity at Kuryk adds flexibility in planning transshipment: equipment delivery from China via Khorgos, connection with rail and the sea leg to Alat and Baku.

Sources: Interfax-Kazakhstan, 22 October 2026; Kazinform, 22 October 2026; Baq.kz, 22 October 2026.