Rustam Minnikhanov: The task of Kazanorgsintez Chemical Company is to reach the output of one million tonnes of polyethylene per year

On April 19, speaking at an annual meeting of shareholders of Kazanorgsintez Chemical Company, Tatarstan President Rustam Minnikhanov said that record-breaking indicators of revenue and net profit of the company have a good impact on revenues to Tatarstan and federal budgets and added that the task of the enterprise is to reach the output of one million tonnes of polyethylene per year.

He also said that according to the results of 2018, the Kazanorgsintez reached record-breaking revenue amounting to 79 billion roubles and the net profit amounted to 19.9 billion roubles.

The meeting noted that a total amount of manufactured products is 989,000 tonnes with an average capacity utilization of 94 per cent in 2018.

Tax payments of the company to the budgets of all levels by the end of 2018 amounted to 9.7 billion roubles, including 6.1 billion roubles in the consolidated budget of Tatarstan.

Answering the questions from journalists, Minnikhanov said that the market capitalization of Kazanorgsintez Company exceeded 182 billion roubles against the background of high financial results of the company.