Rustam Minnikhanov holds board session of Tatneftekhiminvest-holding

On October 26, at a board session of Tatneftekhiminvest-holding chaired by Tatarstan President Rustam Minnikhanov, Director General of the company Rafinat Yarullin said that by results of January-September 2017, oil production increased by 2.3 per cent, production of chemical products – by 4.3 per cent, rubber products – by 13.2 per cent. The production of plastic products decreased by 1 per cent, oil products – by 8 per cent.

The speaker noted that the growth rates of oil and tyre production were more than average in Russia. However, the indexes of production of oil and chemical products were lower.

The core enterprises have increased their production volume by 2.3 per cent, the revenue has made 787 bln roubles, 44 bln roubles have been transferred to the consolidated budget of the republic.

Tatneft Oil Company has increased its revenue by 19 per cent. The company increased oil production by 2.6 per cent by results of January-September. According to Director General of Tatneftekhiminvest-holding, the transition to production of light oil at TANECO refinery encouraged the increase in revenue.

A number of proposals of foreign companies were also considered at the session. OOO FANS-Vostok is planning to build a plant on producing water circulation systems and water cooling towers. The company intends investing 30 mln Euro in the enterprise creating 200 jobs. The project will be implemented in three stages.

FANS-Vostok is aimed at cooperation with Tatneft-Presskomposit and other enterprises of the republic. Head of IBM in Volga region, Central and South Russia Sergey Kasayev suggested implementing safety systems that comply with “Industry 4.0” at regional enterprises.  The solution IBM Employee Safety provides individual protection of personnel in terms of personal health and safety. IBM solutions in the sphere of video analytics will help to provide occupational safety. 

The shareholder of a German investment company KGAL Gregory Ingram and investment director, member of the board Dr. Klaus Wolf suggested creating a joint enterprise of non-state pension fund and KGAL called Asset Investment Initiative Russia (AIIR). The company intends investing in share capital of future partners for further investment in infrastructure, renewable energy sources, aviation, and property. The park of wind energy can then be created in Tatarstan.

Rustam Minnikhanov suggested considering KGAL proposals in respect to small and medium-size business at first.