Rustam Minnikhanov: The TAIF group of companies is capable of managing the tasks set

On June 25, speaking at a press-conference, TAIF First Deputy Director General Rustem Sulteev said that the net profit of the TAIF group of companies made about 45 billion roubles, while the net profit of OAO "TAIF" amounted to 8 billion roubles in 2014.

The press conference was held right after the annual general meeting of shareholders and meeting of the new Board of Directors of TAIF. Interim President of the Republic of Tatarstan Rustam Minnikhanov andTAIF General Director Albert Shigabutdinov took part in the conference.

Answering journalists' questions, Sulteev said that following the results of 2014 it was decided not to pay dividends, because a large-scale construction is underway at the TAIF-NK. According to him, this project is estimated to cost 1.6 billion US dollars.

Speaking about forecasts, Shigabutdinov said that "2015 should be better than 2014." According to him, such a task was assigned to the TAIF Group of companies by Minnikhanov.

Albert Shigabutdinov also told about the plans to build two plants for the production of ethylene with a capacity of 600,000 tonnes per year each at the Nizhnekamskneftekhim site. The total project cost is estimated to be 9 billion US dollars.

In his turn Minnikhanov reminded that the republic has adopted the fourth programme for the development of petrochemical complex in 2015-2019 years. The TAIF group of companies is capable of managing the tasks set within the pogramme, he said.