Fircroft, the leading engineering workforce solutions firm, has reconfirmed its long term commitment to the Kazakhstan market via a joint venture with the Centrasia Group.
The agreement to form a joint venture was signed at the Foreign and Commonwealth Office in London on the 3rd November 2015 as part of the second meeting of the UK – Kazakhstan Inter-Governmental Commission on Trade-Economic, Scientific-Technical and Cultural Co-operation. The event was attended by the British Prime Minister, David Cameron, and the President of the Republic of Kazakhstan, Nursultan Nazarbayev.
This joint venture sees Fircroft’s continued growth in this key region, where it already operates across sites in Atyrau, Tengiz, Aksai and Aktau, supporting over 500 workers in delivering several major client projects.
Johnathan Johnson, CEO of Fircroft said: "Establishing this joint venture will transform our services business and reinforce our commitment to the local market. It will also bring us further substantial expertise, knowledge and experience which will be invaluable in servicing the business community of this strategically important energy country".
"Over the past 12 months we have made a number of acquisitions in other global strategic markets and are working on several more to ensure that Fircroft can continue to deliver a local, cost efficient services solution to its valued clients wherever they need it".
Fircroft’s latest joint venture investment demonstrates that the business’ continuing appetite for growth remains healthy, despite the prevailing market sentiment over current oil prices."
"This joint venture will add new business divisions such as engineering, commissioning and training to our workforce services in Kazakhstan," adds Johnson. "By actively transferring our technology and knowledge and through substantial investment in this venture, we plan that the new company will become a turnkey solutions partner for major energy clients in the country."
The Kazakh Minister of Investment and Development, Asset Issekeshev commented: "I would like to reiterate the importance of attracting the leading British technologies and investment to Kazakhstan. The creation of this joint venture will assist in growing the local content on Oil & Gas projects."