Waberer's Signs Cooperation Agreement with KTZ Express

Hungarian haulier Waberer's Group on Tuesday said it signed a strategic cooperation agreement with KTZ Express, the international intermodal logistics subsidiary of Kazakhstan's state railway company.

In the framework of the agreement, the sides aim to establish a joint venture to develop and operate an intermodal terminal in the Budapest region to serve as the European endpoint and logistics hub of the Trans-Caspian International Transport Route, also known as the Middle Corridor. In addition to the infrastructure development, the sides also agreed to jointly manage container traffic from China to Europe, with Waberer's responsible for rail and road transportation within Europe and KTZ handling the Asian transport routes.

Waberer's said the agreement dovetailed with its strategy in the rail logistics segment, noting its acquisition of a majority stake in PSP group and a memorandum signed with GYSEV CARGO.