Rustam Minnikhanov participates in annual shareholders’ meeting of OAO “Nizhnekamskneftekhim”

President of Tatarstan Rustam Minnikhanov participated in annual shareholders’ meeting of OAO “Nizhnekamskneftekhim”. Company’s Director General Vladimir Busygin made a keynote report at the meeting. Results of company’s activity for 2012 were summarized.

Company’s sales exceeded 125 bln rubles. Net profit made 16 bln 954 mln rubles. Currently OAO “Nizhnekamskneftekhim” has focused on implementation of a major project on construction of olefin complex with capacity of 1 mln tons per year. Licensing agreements for the whole range of technologies have been signed, documentation development is underway. Reconstruction of landfills was one of the most important environmental measures last year.

OAO “Nizhnekamskneftekhim” constantly improves its activity in the sphere of industrial safety and labour protection. Reregistration of hazardous industrial objects and insurance in accordance with legislation were carried out in 2012.

Annual and accounting reports have been approved at shareholders’ meeting.

The Board of directors comprised of 11 people and revision commission of 5 people has been formed. PricewaterhouseCoopers will be company’s auditor for 2013.

First session of new Board of directors was held after the annual shareholders’ meeting. Members of the Board supported Tatarstan President’s proposal and chose Director General of OAO TAIF Albert Shigabutdinov as the Board Chairman.