On Wednesday, February 4, 2015, a delegation of representatives of JSC “Samruk-Kazyna” and JSC “NC KazMunayGas” led by Adamas Ilkevicus (Samruk-Kazyna Business Transformation Director) and Krenkel Ernst Teodorovich (National Company “KazMunayGas” Board Member) visited the headquarter of KMG International in Bucharest to learn about the transformation program “Change for Good”. The delegation included also the representatives of subsidiaries of JSC “NC KazMunayGas”.
During the three-day visit, the delegation will visit the business assets of KMG International Group situated in Romania, part of the Business transformation program.
Mr. Adamas Ilkevicus said: “Rompetrol has quite a story to tell, and by the end of the visit, I would like to have a clear understanding of what we can learn”.
As explained by Zhanat Tussupbekov, СЕО of KMG International: «The implementation of Business transformation program «Change for Good» will allow the Company to enter a new stage of development and to consolidate the competitive position of JSC “NC KazMunayGas” on the international carbon market”.
The program aims to implement certain initiatives within the main KMG International Group business processes (oil refinery, logistics and supply chain, trading and retail, corporate center) designed to reduce operational expenditures, increase performance efficiency and raise marginal profit. The economic effect from the implementation of Business transformation program will amount $130 mil. USD, within the next 5 years.
The program is part of the Business transformation process commenced in a group of companies, members of JSC “NWF ‘Samruk-Kazyna’” initiated on the Decision of Fund’s Board of Directors from September 5, 2014. JSC “NWF ‘Samruk-Kazyna’” Business transformation program implies the implementation of three main steps – increase in the value of current assets, portfolio optimization and enhancement of corporate management. Achieving these objectives will contribute to the national goal, which is entering the top 30 most developed countries of the world, defined by the President of the Republic of Kazakhstan as part of the “Strategy ‘Kazakhstan-2050’”: a new political course of the established state”.
During this year, the transformation processes has been initiated within three main portfolio companies JSC “NC ‘Kazakhstan Temir Zholy’”, JSC “NC ‘KazMunayGas’” and JAS “Kazpost”. KMG International Group is one of the first JSC “NC ‘KazMunayGas’” subsidiaries that have proceeded with the implementation of Business transformation program.
PR and Corporate Communication Department
KMG International Group