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News 2025

Chevron

Chevron Direct Investment Fund Ltd. (CDIF), a private company, is investing $10 million in BioOperations, which produces bioethanol and supplies fuel to the European market. The money will be used to expand production.

"The private company Chevron Direct Investment Fund Ltd. has concluded an investment agreement with the Kazakh company BioOperations BioOperations (part of the KazFoodProducts holding group of companies) for the production of bioethanol. Investments in the amount of $10 million will be used to expand the business and create additional jobs," the CDIF said in a statement.

BioOperations is the only enterprise in Central Asian countries engaged in deep grain processing. The plant, located in the city of Tayynsha in the North Kazakhstan region, produces bioethanol fuel, wheat starch, wheat gluten, DDGS feed and carbon dioxide. Kazakh wheat is used as a raw material, and the capacity of the enterprise is more than 250 thousand tonnes of grain per year. The company exports its main products to the USA, Europe and Asia.

The CDIF notes that the purpose of the fund's work is to make a positive contribution to the development and diversification of the economy of Kazakhstan by investing in commercially profitable enterprises in various fields. According to the fund, BioOperations has demonstrated high investment attractiveness and sustainability of the business model, which allowed the company to successfully meet the key selection criteria of the CDIF.

"Chevron Direct Investment Fund Ltd. is proud to partner with BioOperations in promoting sustainable energy solutions in Kazakhstan. These investments underscore our commitment to supporting innovation, job creation, and economic development in Kazakhstan. Together, we strive for significant progress in the alternative biofuels industry," said the first head of Chevron Direct Investment Fund Ltd. Dylan Morgan.

CDIF continues to explore investment opportunities in Kazakhstan with a view to developing local businesses in various industries. Chevron Direct Investment Fund, registered at the Astana International Financial Centre (AIFC), is a tool through which Chevron contributes to the development of the Kazakh economy by investing in various enterprises. The list of the latter includes, but is not limited to, the production of goods and services in the oil and gas industry with the potential to develop local suppliers, environmental protection, and information technology, including digital technologies.