GE to form Kazakhstan-based joint venture

GE Oil & Gas, Kazakhstan’s National Welfare Fund JSC, NWF Samruk-Kazyna, and JSC ZKMK have agreed to establish a new joint venture to localize the production and servicing of gas turbines in the Republic of Kazakhstan.

Nov. 6, 2009

Offshore staff

FLORENCE, Italy -- GE Oil & Gas, Kazakhstan’s National Welfare Fund JSC, NWF Samruk-Kazyna, and JSC ZKMK have agreed to establish a new joint venture to localize the production and servicing of gas turbines in the Republic of Kazakhstan.

The agreement was signed in Rome by Claudi Santiago, president and CEO of GE Oil & Gas; Aidan Karibdzhanov, MD of JSC NWF Samruk-Kazyna; and Alibi Akhmedzhanov, general director of JSC ZKMK.

The JV, which the companies intend to form in mid-2010, will produce, assemble, and supply turbines for gas transmission and transportation projects in Kazakhstan, Azerbaijan, and Central Asia.

GE Oil & Gas and ZKMK currently cooperate to produce GE gas pump component parts and equipment at ZKMK’s facilities, and are establishing a special service center for gas pump maintenance.

11/06/2009