Rustam Minnikhanov takes part in annual shareholders meeting of OAO “TAIF”

On June 25, Interim President of the Republic of Tatarstan Rustam Minnikhanov took part in annual shareholders meeting of OAO “TAIF”. Results of work of TAIF group for 2014 were summarized at the meeting.

TAIF Director General Albert Shigabutdinov made report on results of work of TAIF group. He said that 2014 was the hardest and the most successful year for the company. Considering unfavourable geopolitical situation and economic crisis all efforts were focused on cost minimization, mobilization of domestic resources and increase work efficiency in all areas.

Due to timely actions the highest production and financial results have been achieved for the whole life cycle of the company.

In 2014, investment activity of the company was aimed at implementation of projects strategically important for Tatarstan and Russian economy. 38,9 billion roubles were invested in construction and reconstruction of production facilities, mainly in oil, gas and chemical sector.

The share of TAIF Group in oil production and distribution of electricity, gas and water makes 49 per cent. 6 billion roubles were allocated for realization of ecological and environmental measures, 2.6 billion roubles – for social, public and charity projects, 2.8 billion roubles – for maintenance of social and cultural facilities.

The average salary of the company employees increased to 37, 000 roubles per month. The 25th anniversary of a foreign trade research production association “Kazan” (VTNPO “Kazan”) that laid the foundation for OAO “TAIF” will be celebrated on September 17.

For 20 years the company proceeds made 3,184 trillion roubles, fixed asset investments exceeded 345 billion roubles, social expenditures made 146 billion roubles, taxes transferred to all budgets made 441 billion roubles.

During the meeting, the annual report and accounting statements were approved, and new Board of directors was elected.

Rustem Sulteev, First Deputy Director General was reelected the Board Chairman, and the powers of Director General Albert Shigabutdinov were confirmed.