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ASTANA – In 2023, Chevron Direct Investment Fund (CDIF) made direct equity investments worth $41 million in the managed services market of Kazakhstan’s Top Cleaning Company and healthcare company Orfun Med Company, Chevron’s press service said. Reported on January 18th.
Photo credit: adyrna.kz
Both companies plan to use CDIF’s investment to expand their operations, creating jobs across Kazakhstan and planning to bring technology to the country.
Both companies demonstrated a compelling business case and outlined the potential to make a significant economic and social contribution to Kazakhstan’s development. They met all the eligibility criteria set by his CDIF.
Kazakhstan’s Minister of Energy Almadam Satkaliev expressed satisfaction with his ministry’s partnership with Chevron, highlighting its positive impact on local communities through its contribution to the education and technological advancement of the country.
CDIF invests in commercially viable companies in various industries, such as manufacturing and oil and gas services, that have the potential to strengthen local supply chains, environmental management, and information technology, contributing to Kazakhstan’s economic development. We aim to do so.
Derek Magness, Managing Director of Chevron’s Eurasia Business Unit, highlighted Chevron’s 30-year history of investments in Kazakhstan and emphasized the importance of the recent agreement. He said this is a testament to Chevron’s dedication to supporting the growth of Kazakh industry and local businesses.
The company expressed its intention to continue to explore profitable investment opportunities in Kazakhstan, with a focus on developing local industry and attracting companies to be part of this growth story.
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