Chevron invests $10 mln in bioethanol project in north KazakhstanChevron Direct Investment Fund Ltd. (CDIF) will invest $10 million in Kazakh company BioOperations LLP to launch the production of bioethanol in the North Kazakhstan region, the company said in a press release."Chevron Direct Investment Fund Ltd. has entered into an investment agreement with Kazakhstan-based BioOperations LLP, part of KazFoodProducts, for bioethanol production. Investment in the amount of $10 million will be used to support business expansion and to create new jobs," the press release says.BioOperations LLP is the only enterprise in Central Asia engaged in deep grain processing. Its plant, located in the town of Taiynsha, the North Kazakhstan region, produces fuel-grade bioethanol, wheat starch, wheat gluten, DDGS animal feed and carbon dioxide.The plant uses Kazakh wheat as raw material and has an annual processing capacity of over 250,000 tonnes of grain. The company primarily exports its products to the U.S., Europe and Asia.Chevron Direct Investment Fund Ltd. noted that it continues to explore investment opportunities in Kazakhstan to support the growth of local businesses across various industries.Chevron Direct Investment Fund (CDIF), registered at the Astana International Financial Centre (AIFC), is Chevron’s investment vehicle to support Kazakhstan’s economy by investing into commercial local enterprises across various industries, including services for the oil and gas industry with potential of developing local supply chains, environmental stewardship, information and digital technologies. (ICE ALMATY)

Fonte notizia: INTERFAX