Chagala Group adds to Kazakhstan portfolio

Chagala Group adds to Kazakhstan portfolio

Caspi Limited, one of Kazakhstan-focused Chagala Group Ltd’s  (LON:CGLO) portfolio companies, has signed a short term lease on a new property.

Chagala specialises in properties used as accommodation for oil workers in the Caspian region and this is a one-year lease agreement with Tengizchevroil (TCO) for a townhouse residential complex in Saraishyk.

TCO participants include Chevron (50% interest), ExxonMobil (25%), KazMunayGas (20%) and LukArco (5%).

Francisco Parrilla, Chagala Group chief executive, said: “We are delighted to see TCO becoming part of our partners with our most special product”.