Mintimer Shaimiev at the RT Security Council: “Construction of new oil refinery plant would catalyse development of new productions”

Session of the RT Security Council chaired by RT President Mintimer Shaimiev was held in the Kazan Kremlin. The agenda was “Progress of the programme on RT oil and gas complex implementation for 2004-2008”

Mintimer Shaimiev underlined in his opening speech that the first results of the programme implementation showed that the choice to make it a priority a few years ago had been right. However, the world trends form in a way the previously fixed rates cannot satisfy us any more – we do not just need a growth but an accelerated growth of the sector. We have a sustainable oil production, on its base we need to create a powerful and efficient oil refinery and strengthen the petrochemistry“, - the President noted.

“Construction of a new oil refinery plant (7 mln tonnes of oil per year capacity) would catalyse development of new productions including small- and medium-scale business, create new jobs, increase scientific activity of the Republic”, - said M. Shaimiev. Building of new refinery plant is to be started in Nizhnekamsk in 2005. Estimated volume of investments is approximately $3 bln. The participants of the project will be determined on the tender basis.