Rustam Minnikhanov takes part in general annual shareholders meeting of JSC TAIF

JSC TAIF shareholders have summarized results of the company’s activity for 2011 at a general annual meeting today. The Tatarstan President Rustam Minnikhanov took part in the event.

Director of JSC TAIF Albert Shigabutdinov made a detailed report. He said that though last year had been very difficult it was rather successful for TAIF group. Notwithstanding all hardships, the highest production and financial-economic rates were achieved.

Thus, consolidated proceeds made 433,5 bln roubles, EBITDA exceeded 67,3 bln roubles, net profit made record 42,5 bln roubles. 8,6 bln roubles were channeled for charity, social sphere, sport, health care, ecology and culture, 4 bln roubles – for implementing environmental protection measures, more than 5 bln roubles – for labor protection and industrial safety.

Total sum of investments in social sector made by the company accounted for 32 bln roubles including tax payments.

By and large, 260 bln roubles have been invested in development of TAIF enterprises from 1995 to 2011.

Main emphasis was put on realization of investment projects in oil-gas-chemical sector of JSC TAIF.

The year was strategically important for JSC TAIF-NK, main component of oil gas processing sector of the TAIF group and the basis of republican petrochemistry. Main concept of the project on constructing complex of deep processing of heavy charge using the technology based on «Veba Combi Cracking» (VCC) process was formulated.

According to Albert Shigabutdinov, main tasks set by the republican leadership and shareholders before TAIF group have been fulfilled.

The annual report and accounting reports were approved at the meeting. New board of directors of the main company – JSC TAIF was elected.