Chevron's investment fund intends to invest $24 mln in constructing oil and gas equipment plant in Kazakhstan

ASTANA. June 15 (Interfax) - Chevron Direct Investment Fund Ltd. (CDIF) plans to invest $24 million in a project to build a plant for producing oil and gas equipment in Atyrau (Kazakhstan), the CDIF press service said.

CDIF has entered into an agreement with the Kazakh company KazBoltService LLP, providing for investment in the construction of a production facility for complex equipment, including pressure vessels, the press service said.

KazBoltService will carry out the design and operation of the facility, and CDIF will provide financial investment support. Around 300 jobs are expected to be created.

KazBoltService is a Kazakh company founded in 2020 in Atyrau. It provides services and technological solutions for the oil and gas industry and specializes in ensuring the integrity of bolted connections, performing installation and fabrication of metal structures and tanks.

Chevron Direct Investment Fund is a private company registered at the Astana International Financial Centre. CDIF invests in commercially promising projects that contribute to the diversification of Kazakhstan's economy and the sustainable development of Kazakh companies.