Rustam Minnikhanov: The trade turnover between Tatarstan and LUKOIL Company reached 50 billion roubles

On September 25, in the Kazan Kremlin, at his meeting with President of LUKOIL Company Vagit Alekperov, President of the republic Rustam Minnikhanov said that the trade turnover between Tatarstan and the LUKOIL has reached 50 billion roubles and is still increasing.

Tatarstan and the LUKOIL are long-standing strategic partners cooperating in several areas. The oil company is one of the largest taxpayers and investors in the republic. Last year, LUKOIL's investments amounted to 3.5 billion roubles, Minnikhanov said.

He informed that the RITEK subsidiary company is operating in 13 municipal regions of the republic and, for the last five years, has produced over one million tons of oil annually. “This is an innovative company aimed at new approaches and actively shares its achievements,” Tatarstan President added.

According to him, the rating of the LUKOIL petrol stations, accounting for 16 percent of the market, is quite high in Tatarstan. “Tatarstan is also a major supplier of machinery and equipment for the company. At the same time, the LUKOIL is a supplier of raw materials for our petrochemical companies. Successful work of the company is our success. I want to continue and expand our cooperation,” Minnikhanov continued.

He thanked Alekperov for the development of social projects in the republic, which have already been implemented for eight years.

Alekperov answered that a favorable investment climate has been established in the republic, which encourages the business to invest and develop projects.