Rustam Minnikhanov holds regular board meeting of Tatneft Oil Company

On July 21, in the Government House of the republic, Tatarstan President, Board Chairman of Tatneft Oil Company Rustam Minnikhanov held a regular board meeting of Tatneft Oil Company.

The meeting considered the results of the execution of the company's budget for the first half of the year and approved the budget for August this year.

The Board also discussed the results of the implementation of the corporate programme aimed at supporting small business in the southeastern part of the republic.  According to the results of the first half of the year, all planned technical and economic indicators have been fulfilled, the revenue growth of the Idea-South-East amounted to 179.8 per cent as compared to the same period last year. Following the initiative of Tatneft Company, the amount of leased out areas increased by 24 per cent as compared to the beginning of the year, which resulted in the increased number of tenants and new jobs. Plans for the near future include creation of new innovative production facilities in the technopark, including workshops for the processing of old tires and the production of rubber coatings used in the construction and improvement of territories, production of fiberglass fittings and construction netting, repair of labor saving tools and equipment of the Tatneft's structural divisions and subsidiaries

The meeting approved Tatneft's initiative to develop special economic zones in Nizhnekamsk and Almetyevsk regions, to establish industrial parks in Almetyevsk, Leninogorsk and Bugulma regions through the industrialization of existing areas, and recommended that the Executive Management of the company should continue work on establishing an industrial cluster for to diversify and enhance the competitiveness of the products.

The Board considered a number of other issues of the company's activities.