Rustam Minnikhanov: The priority of Kazanorgsintez Chemical Company remains proactive investment activity and modernization of production facility

06.06.2018

On June 6, Tatarstan President Rustam Minnikhanov took part in the annual general meeting of shareholders of Kazanorgsintez Chemical Company, summarizing the company’s performance in 2017. Director General of Kazanorgsintez Farid Minigulov, Director General of TAIF Company Albert Shigabutdinov and Deputy Director General of TAIF Company Ruslan Shigabutdinov took part in the meeting.

Making a keynote report, Minigulov emphasized that the previous year ended up bringing successful financial results to the company.

The Kazanorgsintez manufactured over one million tonnes of goods for 2017, including 726 thousand 513 tonnes of polyethylene. This is the maximum volume of polyethylene manufactured in the history of the enterprise.

In the reported year, the production sales revenue amounted to 72 billion roubles, which is less than the corresponding 2016 indicator by 4.5 per cent. The company’s net profit made 15.2 billion roubles in 2017. 

In 2017, exports of company’s products increased by 16.8 per cent as compared to 2016, providing over 15 billion roubles in revenue. In 2017, the enterprise resumed cooperation with Georgia and began to supply to Croatia and Armenia.

On the results of the reported year, tax payments to budgets of all levels amounted to 8.6 billion roubles, including 5.46 billion roubles paid to the consolidated budget of the republic.

Minigulov also reported on the implementation of a set of measures in the field of environmental protection, industrial safety, labor protection and modernization of manufacture.

In his welcoming speech, Minnikhanov emphasized that the Kazanorgsintez is one of the largest petrochemical enterprises of the Russian Federation and the leading domestic manufacturer of polyethylene. The company fulfilled and exceeded the planned targets. In the reported year, the company worked in the conditions of the complicated market conditions, which was primarily because of the reduction of prices to 15 per cent.

According to Tatarstan President, over the past 15 years, proactive investment activity and modernization of production facility remain the priority of the Kazanorgsintez. Minnikhanov also reminded that in March of the current year, during his visit to the enterprise, he got acquainted with the implementation of reconstruction programme of the existing ethylene production facility and also took part in the launching of membranous manufacturing.

At the end of the shareholders' meeting, a meeting of the Board of Directors of the Kazanorgsintez was held.


Tatarstan President's Press Office, Bulat Nizameev.