It was announced today that the central Asian country of Kazakhstan will receive $700 million from the Asian Development Bank (ADB) to construct a 2,715-kilometer transport corridor being dubbed the “new Silk Road.”
This massive, $6.7 billion road-building endeavor, if successful, will be a boon to the fledgling nation’s growing infrastructure. The transport corridor will run from Khorogos, a city on Kazakhstan’s Chinese border, straight to its western front near Russia. Much like the original Silk Road, this project will create an intercontinental land link from Asia to Europe.
“This new silk road will boost trade between Beijing and Brussels, and create extraordinary economic opportunities for the people of Kazakhstan and their neighbors,” says Juan Miranda, director general of ADB’s Central and West Asian Department.
Click here to read more about this ambitious development project.
You Might Like:
- Panama Canal: Bigger, Better and Ready to RumbleTwo years later than the original plan, the $5.25-billion expansion of the Panama Canal is set to be completed in April, dramatically altering the global shipping paradigm.
- Knight Transportation Creating 87 Jobs In MichiganThe Right Place, Inc., along with local and state partners in the City of Grand Rapids, approved a Michigan Strategic Fund (MSF) incentive for the Knight Transportation project.
- Israel-Based Auto Supplier Selects Indiana for First North American OperationsOmen USA, an Israel-based manufacturer of aluminum parts for the automotive industry, plans to locate its first North American production facility in Richmond, IN, creating up to 100 new jobs by 2019.
- Expanded Panama Canal Officially OpensThe largest enhancement project since the canal opened in 1914 will provide the world's shippers, retailers, manufacturers and consumers with greater shipping options, better maritime service, enhanced logistics […]