Roustam Minnikhanov summarises Taneko’s performance in 2008

The Tatarstan Prime Minister Roustam Minnikhanov chaired a Taneko petrochemical producer’s annual shareholder meeting in Nizhnekamsk.

Attendees at the meeting were the Tatneft General Director Shafgat Takhautdinov, Svyazinvestneftechim General Director Valery Sorokin, Tatarstan Construction, Architecture and Housing Minister Marat Khousnoullin, Tatarstan Security Council Secretary Vener Salimov and other officials.

The main item of the agenda was approving the company’s annual report and financial statements. The company’s General Director Khamza Bagmanov delivered a report, saying in 2008, the work within the project called Oil Refining and Petrochemical Complex in Nizhnekamsk had been continued as scheduled.

One of the most significant results of the work was obtaining permission from the Glavgosexpertiza expert examination authority to construct the complex of plants. A monthly progress of construction documents issue worth 1.5 billion roubles of construction and installation was achieved. A total of 9.6 billion worth construction documents was issued in 2008.

A total of 18-billion-rouble worth agreements was concluded. Construction and installation was 5.8 billion roubles, which is three times more as compared with 2007. The first installation of the Elou-Avt technology equipment was successfully performed. In October 2008, the disbursement of construction and installation works was 1 billion roubles a month. The total number of employees at the site at the end of 2008 was 4 thousand, construction equipment was 500 units.

The work within the investment agreement on financing the design and construction of an external transport infrastructure from the Russian Investment Fund was continued with active support of the Russian and local authorities. In 2008, the MostGeoCentre company, within a state contract with Russian Railways, began the construction of a railway infrastructural complex. Transneft was assigned by the Russian Energy Ministry as a customer and builder, with whom Tatneft in May 2009 signed a contract on turn-key construction of an oil pipeline and a product line, to be performed by Tatneft.

In 2008, continuous financing of the project was provided. A total of 32.1 billion roubles, VAT inclusive, was last year disbursed, and 52.4 billion rouble since the construction began.

Summarising the 2008 performance, Roustam Minnikhanov addressed the project’s general designer Vnipineft institute’s head Vladimir Kapustin and the general contractor Kamaglavstroi’s head Valery Samilov. “We have today come up to a very significant stage. A lot has been done, but the work should be continued as scheduled, to launch the first start-up complex next year. We need to boost cooperation with research institutes, to enhance our builders’s proficiency and to ensure continuity and high quality of the work we do.”

Following the meeting, Mr Minnikhanov told journalists: “In 2008 we made a long way and approached the home stretch,” said the Tatar premier. “Next year, we will launch the first start-up complex. There is a tension but we will cope with it, I am sure. Of course, it requires a lot of strength and funds, especially considering the present state of the stock markets.”