Rustam Minnikhanov: “Bugulma motor pump plant faces positive prospects”

On July 22 Tatarstan President Rustam Minnikhanov took part in opening of a new enterprise on producing electric cables for oil production industry at Bugulma motor pump plant.

In 2009 this enterprise was on the verge of bankruptcy. Later on, Tatarstan Investment and Venture Fund purchased the plant and passed it on to a strategic investor represented by Veles Capital.

832 mln rubles were invested in the plant modernization and advanced high-tech equipment was purchased in the period of 2010-2012.

1080 employees currently work at the plant that produces items for the sum of 100 mln rubles.

Rustam Minnikhanov visited the joint enterprise Weatherford Machine Production that was founded in 2013 by an American company Weatherford and OAO “Bugulma motor pump plant”. OAO Rosneft, OAO Bashneft, OAO Tatneft will be main customers of the plant.

Tatarstan President also took part in opening of the enterprise for producing electric cables for oil production industry OOO “Noris”.

Rustam Minnikhanov expressed hope that products of new enterprise will be used at Tatneft and small oil companies in Tatarstan and outside the republic.