ASTANA – In 2023, Chevron Direct Investment Fund (CDIF) made direct equity investments worth $41 million into the managed service marketplace for businesses Top Cleaning Kazakhstan and Orhun Med healthcare company, Chevron’s press service reported on Jan. 18.
Set to expand their businesses using CDIF’s investments, the companies plan to create jobs across Kazakhstan and bring technologies into the country.
Both companies demonstrated compelling business cases, outlining their potential for significant economic and social contributions to Kazakhstan’s development. They met all the eligibility criteria set by CDIF.
Kazakh Energy Minister Almasadam Satkaliyev expressed satisfaction with a partnership between the ministry and Chevron, emphasizing its positive impact on the community through contributions to personnel education and technological advancements in the country.
CDIF aims to contribute to Kazakhstan’s economic development, investing in commercially viable enterprises across various industries, such as manufacturing and oil and gas services, with the potential to bolster the local supply chain, environmental stewardship, and information technologies.
Derek Magness, managing director for Chevron’s Eurasia Business Unit, highlighted Chevron’s three-decade-long investment history in Kazakhstan, stressing the importance of these recent agreements. He noted it is a testament to Chevron’s dedication to supporting the growth of Kazakhstan’s industries and local enterprises.
The company expressed its intention to continue exploring profitable investment opportunities in Kazakhstan, focusing on developing local industries and inviting enterprises to become a part of this growth story.