Tatneft PJSC Board of directors chaired by Tatarstan President Rustam Minnikhanov discusses prospects of tyre business

On September 28, Tatarstan President Rustam Minnikhanov held a board session of Tatneft Oil Company, PJSC in Kazan. Results of the budget execution for eight months of 2017 were considered and budgets for October and the fourth quarter of the current year were approved at the session.

The board of directors heard the information about results of financial activity and prospects of petrochemical enterprises.

According to the Strategy of tyre business development, the sales of tyres should reach 16, 2 mln tyres per year, and the EBITDA should increase up to 14,5 bln roubles by 2025.

The main measures for achieving set goals are implementation of long-term programme of sales of Viatti tyres, expansion of material and technical base of Kama research center, optimization of production processes, import substitution, development of distribution system, and expansion of retail trade and services centers «Tyre&Service».

The information about the strategy of the company’s innovative development was also discussed at the session. Tatneft developed the system of creation of intelligent values that starts from cultivation of the idea and finishes by its implementation, receiving of protection documents and commercialization. The efficiency of the company’s management system by means of innovative activity is currently being increased, and the portfolio of innovative technologies is being filled.