Rustam Minnikhanov attends annual shareholders meeting of OAO "Nizhnekamskneftekhim"

On April 14, Tatarstan President Rustam Minnikhanov took part in an annual shareholders meeting of OAO "Nizhnekamskneftekhim".

Director General of OAO "Nizhnekamskneftekhim" Oleg Nesterov made a keynote report on financing and economic activity of the enterprise.

In particular, he reported that due to volatile market conditions the company had to increase production capacity and sales volumes of rubbers and plastics to compensate for the overall price reduction. This allowed the company to achieve sales proceeds amounting to 119.8 billion roubles and net profit amounting to 6.1 billion roubles.

The production output as compared to relative prices of 2012 made 103.9 per cent. More than 60,000 extra tonnes of products were made. Last year showed the maximum production output of such products as ethylene, propylene, polystyrene, butyl rubbers and rubber SKD-N.

Products to the amount of about 2 billion roubles were exported in 2013, which is little less as compared with 2012. The total share of exported products made about 50 per cent, with 82 per cent of synthetic rubber, 6 per cent of plastic and 12 per cent of other types of products being sold to the foreign markets.

The total volume of synthetic rubbers sold for export in 2013 increased by 15 per cent as compared with 2012 and made 580,000 tonnes.

The environmental protection was one of the priority activities of OAO "Nizhnekamskneftekhim" last year. In particular, 88 ecological campaigns were held in 2013. The company fulfilled all obligations in terms of resettlement of citizens from Alan and Martysh villages.

The work on reduction of energy costs of separate production facilities and industrial complex in general is always underway. Thus, the company developed “Power engineering certificate of fuel and energy resources for industrial consumer” valid until 2016, the works on introducing the wholesale electric energy and power market were carried out. The automated information-measuring system for fiscal measurement of electric power has been introduced since 2012.

The effective social policy has been implemented due to smooth company’s operational activity, with the average salary amounting to 34,500 roubles.

In 2013, 7.4 billion roubles of taxes and fees were transferred to the consolidated budget of the Republic of Tatarstan, including 786 million roubles being transferred to the Nizhmekamsk budget.

The annual report, annual financial statements, including income statement for 2013 were approved at the meeting.

Based on the financial and economic activities of the company for 2013, it was decided to transfer 1.83 billion roubles or 1 rouble per a common and preferred share to pay dividends out of the total net profit amounting to 6.1 billion rubles. Moreover, 4.238 billion roubles will be allocated to implement the strategic development programme and repay loans in 2014.