Chevron and TengizChevroil break ice on Kazakh content

Kazakhstan engineering companies are eager to produce equipment for Chevron and TengizChevroil, Tengrinews.kz reports from the meeting of the discussion club Atameken Forum called The role of Baiterek National Holding in development of Kazakhstan’s economy. Kazakhstan's national economic chamber Atameken Union is the country's largest business association that represents entrepreneurs and works on improvement of the country's business climate. “I would like to suggest a joint project if we have the capacities. We are currently in talks with Chevron and TengizChevroil. We are talking about $8 billion worth of contract, i.e. about these companies undertaking to purchased this much worth of Kazakhstan-made goods and services. This is the additional funding that we need for the nearest 4 years. Kazakhstan Development Bank (KDB) could play a good role in bringing Kazakhstan companies to a higher level so that they can provide the goods and services required to win these $8 billion worth of orders. If Baiterek is ready for such a large project, we are ready to move further with the discussion,” Executive Director of Kazakhstan Car-Makers Union Temirlan Altayev told the head of Baiterek Holding Kuandyk Bishimbayev. “Yes, we are ready. This will simplify matters if you coordinate the process and TengizChevroil makes firm offers,” Bishimbayev said. The Development Bank has a KDB-leasing project intended for modernization of engineering companies, he added. Earlier Nursultan Nazarbayev, President of Kazakhstan called to improve the situation with local content in Kazakhstan.