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K&L Gates Advises Chinese SOE COSCO Shipping and Lianyungang Port on Kazakhstan Investment, Part of Belt and Road Initiative

22 June 2017
Beijing – Global law firm K&L Gates has advised Chinese state-owned shipping firm COSCO Shipping Corporation Limited (COSCO) and Lianyungang Port Holdings Group Co., Ltd (Lianyungang) on the acquisition of a 49% percent stake in a dry port on the China-Kazakhstan border. The investment agreement was signed with Kazakhstan Temir Zholy (KTZ), Kazakhstan's national railway company, during the Belt and Road forum in Beijing hosted by President Xi Jinping.

The target dry port is located in the Khorgos Eastern Gates Special Economic Zone, which was established by the Kazakhstan government in 2011 to boost the country's exports and trans-shipment capability. Shipments from Kazakhstan can reach China’s eastern coast in five days via the Khorgos port.

A team of lawyers from K&L Gates’ Beijing, Shanghai and Singapore offices acted on the deal. The team was jointly led by Beijing-based partner Grace Fan-Delatour and Shanghai counsel Rong Fan and supported by Singapore partner Lian Yok Tan, who were assisted by associates Alice Ma, Aggie Yang and Jingwei Zhang.

Fan-Delatour commented: “The Belt and Road strategy is one of the most important national initiatives in China currently, and this deal between COSCO and Lianyungang and KTZ signifies a real advancement under that initiative and progress in enhancing Sino-Kazakhstan synergies and bilateral investment.  We are very pleased to have been of assistance to our clients in marking such a tremendous and significant milestone.”

K&L Gates is a fully integrated global law firm with lawyers located across five continents. The firm represents leading multinational corporations, growth and middle-market companies, capital markets participants and entrepreneurs in every major industry group as well as public sector entities, educational institutions, philanthropic organizations and individuals.

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