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LX Pantos seeks to expand presence in Central Asia
LX Pantos CEO Lee Yong-ho, second from left, poses with Kazakhstan Transport Minister Marat Karabayev, second from right, and PTC Holding Chairman Timur Karabayev, right, in Astana, Kazakhstan, in this undated photo. Courtesy of LX Pantos
By Park Jae-hyuk
Logistics provider LX Pantos CEO Lee Yong-ho recently met with Kazakhstan Transport Minister Marat Karabayev in the Central Asian country’s capital of Astana, to discuss ways for bilateral cooperation in the logistics sector, the company said Thursday.
Lee’s latest trip to Kazakhstan is part of the Seoul-based logistics firm’s efforts to gain a foothold in the region and strengthen its networks across Central Asia.
According to LX Pantos, the CEO and the minister focused particularly on ways to cooperate in the transportation of containers on the Trans-Caspian International Transport Route (TITR), which connects Europe and Central Asia.
The TITR has drawn attention lately as it is the only alternative to the Trans-Siberian Railway and the Trans-China Railway, both of which pass the Russian territory to connect Europe and Asia.
In collaboration with Azerbaijan and Georgia, Kazakhstan has made significant infrastructure investments in the TITR, as it plans to establish a robust logistics corridor across the region.
During the CEO’s visit, LX Pantos also signed a memorandum of understanding with PTC Holding, Kazakhstan’s leading logistics company, to jointly explore new transportation routes and logistics opportunities.
Under their strategic partnership, the two companies agreed to leverage the TITR to enhance freight transportation between Europe and Asia, share their assets for logistics and increase Kazakhstan’s exports.
Founded in 2022, PTC Holding is known as a prominent integrated transport and logistics investment group in Kazakhstan. It owns and operates the largest fleet of rail vehicles and logistics infrastructure in Central Asia.