Press releases – 2012

Townhouses project Completion

02 Apr 2012

Chagala completed Townhouse project in Atyrau under lease agreement for residential accommodation with NCPOC

Almaty, Kazakhstan – Caspi Ltd. (the Company), a wholly owned subsidiary of Chagala Group Ltd., (Chagala), today announced the completion of the Townhouses project in Atyrau under lease agreement for residential accommodation with NCPOC, a company part of the consortium developing the Kashagan oil field located in Kazakhstan’s north Caspian Sea.

Chagala was awarded with the agreement in July 2011 that calls for the lease of 33 four-bedroom townhouses located at the Chagala development complex in Atyrau, Western Kazakhstan. The townhouses will be used by NCPOC to accommodate staff and their families on a long term basis. For the first time, Chagala built townhouses to meet the evolving needs of core customers in the oil and gas industry.

Francisco Parrilla, CEO of the Chagala Group, commented that "We are grateful to NCPOC for trusting us with this project as it relates directly to their most important asset – their staff and families. Developed on a pre lease basis, these townhouses mark the start of a new product line for Chagala and one that we are confident will continue to grow in demand as more and more companies are looking for family focused residential accommodation in Kazakhstan."

Chagala is a service company focused on providing long and short term accommodation solutions to the companies involved in developing Kazakhstan's vast oil and gas potential. With the ownership of hotels, townhouses, serviced apartments, remote site facilities, restaurants and offices in its portfolio, Chagala is well positioned to capitalize on the investments being made now and in the future.

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