Consortium of Kazakh companies to be created to work at Tengiz expansion project

ASTANA. November 18. KAZINFORM - Until the end of November 2013 there will be formed a Consortium as part of the obligations for local content in the Project of future expansion of Tengiz, says the press -service of  "Kazakhstan Engineering" JSC.

As the company's leader Bolat Smagulov says, the Consortium is open to all Kazakh producers, service and engineering companies.

Given the status of the size and influence of "Kazakhstan Engineering" in the field of mechanical engineering, as well as the financial capacity and the annual asset growth of 50 percent over the past three years, an important role in national development programs, the National Company "Kazakhstan Engineering" will be leading in this Consortium.

Note that the consortium is created on behalf of the Government and with the direct support of the Ministry of Industry and New Technologies of Kazakhstan, coordinating issues of local content development and diversification of the economy and the operator of the state program of forced industrial-innovative development.

According to him, the company has successfully held preliminary talks with the technological leaders in the oil and gas and mining industry. There are joint ventures with leading international technology groups like "EADS", «Aselsan», «Indra», "KamAZ", " UralVagonZavod", in the final satge is the agreement with "Boeing" and "Sikorsky". To implement further plans for the effective development and execution of orders in the Future expension project at Tengiz, as well as Karachaganak  and Kashagan projects, "Kazakhstan Engineering" company plans to place Eurobonds.

Consortium of companies "Chevron", "KazMunaiGas", "ExxonMobil", "LukArco" plans to invest more than $ 25 billion in procurement of goods, works and services the next 5-7 years. In this regard, it is now important to consolidate the proposals from all available Kazakh companies.