Tatarstan President: Petrochemical complex is a growth point of our republic

On October 3, at the Russian Energy Week International Forum, Tatarstan President Rustam Minnikhanov spoke at a panel discussion “Identifying a Strategy to Succeed on the Global Petrochemical Market?”.

Minnikhanov noted that today petrochemistry remains one of the leading sectors of Tatarstan economy. There are two factories in the republic, refining 16 million tonnes of oil. It is planned to launch another production facility for six million tonnes in the near future.

Since 1999, the total investment of the Tatneft and the TAIF Group of Companies on the implementation of projects on deepening the processing of hydrocarbon raw materials exceeded 1.3 trillion roubles. In particular, the total volume of investments in the chemical, petrochemical and oil refining enterprises of Tatarstan amounted to over 710 billion roubles over the past 5 years. “This indicates that the growth point of our republic is the petrochemical complex. We also have engineering industry, in particular, production facilities of trucks and cars, aircrafts, helicopters and ships,” Tatarstan President said.

Minnikhanov noted that the republic has plans to implement new investment programmes in the field of petrochemistry.

During the Forum, Minnikhanov took part the signing ceremony of a number of documents on cooperation with the participation of Tatarstan companies. He also had a meeting with the First Deputy Minister of Energy of the Russian Federation Alexey Teksler and handed in the Letter of Gratitude of the President of Tatarstan for his significant contribution to the development of the fuel and energy complex of the republic.