Dutch shipbuilder Damen Shipyards Group has signed a framework agreement with Kazakhstan’s Mangystau region to build a shipyard in the Kazakh sector of the Caspian Sea, according to the Mangystau regional administration.
The project is valued at about €100m ($113.7m) and is aimed at giving Kazakhstan a new shipbuilding base for marine vessels in the Caspian region.
The agreement was signed in Brussels during the Kazakhstan-European Union business forum, adding a shipyard project to Mangystau’s plans to expand its transport and logistics capacity.
The regional administration said the yard is expected to bring modern shipbuilding technology to Kazakhstan, create skilled jobs and strengthen maritime transport infrastructure in the Caspian region.
The deal follows earlier Kazakhstan-Netherlands talks this month, when Kazakh officials and Damen discussed industrial cooperation in shipbuilding.
A memorandum of understanding on a shipbuilding and ship repair cluster in Mangystau region covered technology transfer, localisation of production and workforce development.
Rose Damen, co-owner and member of the board of Damen Shipyards Group, was listed among the business figures involved in the wider Kazakhstan-EU business discussions in Brussels.
Damen Shipyards Group is a privately owned Dutch shipbuilding and maritime services group headquartered in the Netherlands. Its business covers vessel design, construction, conversion, repair and lifecycle services for commercial, defence and offshore customers.