TAIF Group in mass-media

Today, TAIF and Schneider Electric signed an additional Strategic Cooperation Agreement on the sidelines of the St. Petersburg International Economic Forum. The document was signed by Albert Shigabutdinov, Director General, TAIF JSC and Johan Vanderplaetse, Senior Vice President, President, Schneider Electric in Russia and CIS. The signing ceremony was attended by the President of Tatarstan Rustam Minnikhanov.

The signing of the Agreement was another step in the cooperation between the companies started in 2017 in the field of supply and commissioning of the equipment produced by Schneider Electric. The document signed today is aimed to promote the development of long-term relationships between partners in the field of digital transformation in the companies of TAIF Group and in the Republic of Tatarstan, including the development of educational programs, the supply of modern digital solutions, equipment, components and spare parts produced by Schneider Electric, and also sets out corporate discounts for the companies of TAIF Group.

TAIF JSC and Yokogawa Electric CIS Ltd. signed the Strategic Cooperation Agreement on the sidelines of the St. Petersburg International Economic Forum. The agreement was signed by Deputy Director General, Corporate Governance, Property and Investment, TAIF JSC, Chairman of the Boards, Kazanorgsintez PJSC and Nizhnekamskneftekhim PJSC Ruslan Shigabutdinov and Director General of Yokogawa Electric CIS Ltd. Vladimir Saveliev.

The signing ceremony was attended by the President of Tatarstan Rustam Minnikhanov, Director General, TAIF JSC, Albert Shigabutdinov and Chairman of the Board, Yokogawa Electric Corporation, Takashi Nishijima.

The document signed by the companies sets forth the main areas of cooperation and contains the prices of standard equipment produced by Yokogawa Corporation, taking into account discounts provided to the companies of TAIF Group. The signing of the Agreement was another step in the long-term cooperation between TAIF and Yokogawa Electric Corporation.

Avers Bank LLC has preserved the leading positions among the banks of Tatarstan in terms of the key indicators following the results of the 9 months 2017. According to Banki.ru, as of October 1, 2017, the bank's assets have grown by 26.93% to RUB 130.27 billion, compared with the beginning of 2017.

The bank once again was ranked first among the banks of the republic in terms of the net profit size, which has amounted to RUB 1.69 billion. Deposits of natural persons have increased by 24.46% to RUB 29.07 billion, while the deposits of enterprises and organizations - by 36.02% to RUB 77.81 billion. The bank also has boosted its loan portfolio and capital.

The President of Tatarstan came to congratulate Nizhnekamskneftekhim with the 50th anniversary and awarded the corporate team with the Order for Merits to Tatarstan. Nizhnekamsk has had double celebration – the 50th anniversary of Nizhnekamskneftekhim and the Day of the City. As usual, they celebrated the day of foundation of the enterprise by launching a new production unit – Rustam Minnikhanov started a formaldehyde production unit. Besides, in honour of the anniversary, almost 1,500 employees were awarded, and the city now have the renewed Lemaev public garden. How the chemical enterprise ''survived'' in the 1990s, and about the plans of the company for the next 50 years, please read in the material of Realnoe Vremya.

The launch of a new formaldehyde production unit

The management of the company plans to increase production volume. For this reason, on the day of the anniversary celebration a new formaldehyde production unit was launched. It is raw material that will allow to ramp up the production of synthetic isoprene rubber in the production line of the company.

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It is the third time that Tatarstan has become the leader among Russian regions in terms of the investment climate. Its investment attractiveness is built mainly by the industrial flagships. In particular, to ensure implementation of a number of investment programmes, a promising Memorandum of Strategic Cooperation was signed between TAIF Group and Linde, Germany, in the framework of a leading world business platform – St. Petersburg International Economic Forum. The details of the agreements confirmed by the signatures of the heads of these two major holdings in the presence of Rustam Minnikhanov, the President of Tatarstan, and Horst Zeehofer, Prime Minister of Bavaria, are covered in the material of Realnoye Vremya.

15-Year Preparation To Project

In early June, the Memorandum, which defines the main areas of cooperation till 2025, was signed by Christian Bruch, Chief Operating Officer, LINDE AG, and Albert Shigabutdinov, General Director, TAIF PSC.

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Just a short while ago a milestone event occurred in the energy sector of Tatarstan - comprehensive modernization of Kazan CHPP-3, one of the oldest co-generation plants in the republic. The work was carried out in several stages, and the largest and final step was the commissioning of a new 405.6 MW power generation unit, which costs RUB 14 billion. Globally, there are totally 5 units of this kind based on the 9HA.01 high-tech gas turbine. Kazan became the first site in Russia and the second one in the world to implement such project. This object of strategic importance for the capital of Tatarstan will be one of the benchmarks on the path of creation of a 220 kV energy ring in Kazan aimed to address the issue of power shortage in the city. Industrial plants, residential premises and social facilities will be provided with electricity and thermal energy for many years to come.

EUR 535 for construction of 1 kW of installed capacity

TGK-16 OJSC, a power generating company in Tatarstan, has completed a comprehensive modernization of CHPP-3 - the largest power plant in Kazan. The entire process consisted of several stages. First, the actions were implemented aimed to ensure the reliability of electricity and heat generation.

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Rustam Minnikhanov, the President of Tatarstan, launched a new 405.6 MW power generating unit at Kazan CHPP-3 of TGK-16 OJSC. The formal ceremony was also attended by Albert Shigabutdinov, General Director of TAIF PSC, and John Rice, Vice President of General Electric, the USA.

The unit based on a 9HA.01 gas turbine manufactured by GE will cover the growing demand of Kazan for thermal energy used for heating and hot water, which will be produced in the most cost-effective combined mode.

"This is the largest gas turbine unit in our country. And today, judging by its results after the startup, it surpassed all contractual conditions. The cost of one kW amounted to EUR 536. This is a very good figure for the economy. This GTU is twice as efficient as the existing power plants. Just imagine, the capacity of 400 MW will appear in Kazan. Energy efficiency of our plants will be highly improved, and the capacities we will have will be in demand. We have the capacities, but we are not competitive and can't always sell energy. But in this case we have a huge chance to be always in the market",- President Rustam Minnikhanov outlined the prospects.

It took a year and a half to build the power generating unit, and its commissioning was the last step in a comprehensive modernization of the Kazan CHPP-3. This unit has become the first in Russia and the second in the world electricity generating facility equipped with a GTU of such kind.

Tatarstan and Bavaria are heading to a new round of cooperation. Today, during the second day of the St. Petersburg International Economic Forum, a memorandum of strategic cooperation between TAIF Group and Linde was signed. As it has been known to Realnoye Vremya, the memorandum envisages a number of contracts covering both gas separation and process gases, and most importantly, the contracts related to the four stages of the Ethylene Complex. In particular, a EUR 868 million contract has been signed for implementation of the first stage that is by itself a highlight of the year - the idea of building a high-capacity ethylene complex came to the leadership of TAIF and NKNK as early as in 2008. Find out more details in the report of Realnoye Vremya.

Contract for 10 years and 1.2 million tons of ethylene per year

Today, Nizhnekamskneftekhim is considered to be a nation-wide leader in the production of ethylene - annual volume of this ultra-deficit raw material produced at the facilities of the company exceeds 600 thousand tons per year, which covers not only the needs of NKNK's plants, but is supplied also to other enterprises of the republic and the neighbor region Bashkortostan.

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During a working visit in Munich the President of the Republic of Tatarstan had a meeting with the management of a company, which had been a partner of TAIF Group for multiple years, and discussed possible joint projects to be implemented in the republic.

The management of TAIF Group introduced its long-term partner in Munich — Linde, a German group - with which a Tatar holding has long-standing strong relationships, to Rustam Minnikhanov, the President of Tatarstan. In the framework of a two-day visit to the capital of Bavaria, the President visited the company's engineering center, learned about new developments and later had a personal discussion with Aldo Bellloni, Linde's CEO. A landmark occasion was also the meeting between the partners and Rustam Minnikhanov, on the one side, and Horst Seehofer, the Prime Minister of Bavaria, on the other side, which was held behind closed doors. A correspondent of Realnoye Vremya observed the development of the relations between the two partners and learned about other projects that can be implemented in the republic by the proposal of the President of Tatarstan.

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Total investment in the construction of the Heavy Residue Conversion Complex at TAIF-NK made up almost RUB 100 billion, as it was reported today at the annual meeting of shareholders of TAIF Group’s holding company attended by the President Rustam Minnikhanov. The topic why the oil refining industry found itself in a difficult situation was discussed at the traditional meeting with journalists held after the summing-up. Find out more details in the report of Realnoe Vremya.

Over RUB 12 Billion Loss Because of Economic Crisis

The performance of the company and the Group was summed up at the annual meeting of TAIF's shareholders. When presenting a key report on the Group's performance, Albert Shigabutdinov, General Director, TAIF PSC said that the world crisis, which commenced as early as in 2013, continues affecting the national economy even today.

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As announced during the meeting, according to the results of 2016, Nizhnekamskneftekhim paid RUB 8 billion 969 million of taxes and charges to the consolidated budget of the Republic of Tatarstan.

In addition, during the meeting of the Board, the company's annual report for the past year was preliminary approved, the agenda was adopted for the annual general meeting of shareholders to be held on April 5 in the headquarters of Nizhnekamskneftekhim as well as a number of documents necessary to hold the annual meeting.

The Board of Directors approved the results of a closed tender for the selection of an independent auditor for NKNK based on RAS and IFRS. As before, the state company Pricewaterhouse Coopers Audit was selected as a candidate that would be presented at the annual meeting for approval by the shareholders.

Ilshat Aminov, Director, TNV channel told that Roskomnadzor approved the inclusion of the channel in all cable networks. TNV will broadcast on the 21st regional channel.

"The commission distinguished the high creative level and the quality of programmes. The Commission members said 'we know TNV channel very well, and closely follow its successful activities. This is already a decision, and all cable operators in the region have to put us on the 21-th button", Tatar-inform quotes Aminov.

The head of TNV noted that Roskomnadzor affirmed high status of the channel. The decision of the agency gives further incentives for the channel development.

"We must be consistent with the high status of the channel, which will broadcast on 21-th position in all cable networks», Aminov stressed.

As it has been known by Realnoe Vremya, today within the next few hours, Rubin will officially announce the staff reshuffle. Rustam Sayakhov, the current Financial Director of Rubin, the former Chairman of the Board of Avers Bank (from 2011 until May 2015) became the General Director of the Club.

In turn, Ilgiz Fakhriev, who is now ex-CEO, will take up the post of Sports Director of the team. Fakhriev has served in the capacity of the General Director of the Club since November 2015. We recall, Rubin of Kazan will reopen the season with a Russian Cup match against FC Sibir from Novosibirsk, which will take place at the Kazan Central Stadium. The day before, the Kazan team tied with Sarpsborg from Norway (0:0) in the control match.

Wastes treatment efficiency analyzing process started at the biological treatment facilities (BTF) of Nizhnekamskneftekhim PJSC after the first stage of revamp and modernization that was implemented at this environmental facility in 2016.

A huge work was performed in the premises of the bio treatment facilities last year within the framework of the reconstruction plan: a mechanical treatment unit, a bar screen building, aerated grit chambers, a domestic and chemically contaminated wastewater mixer, and a transforming substation were built and upgraded as well as three Yatagan gas-plazma units and other units were built. They all were put into operation in December last year. By the way, all the construction work set forth by the BTF reconstruction project, has been performed amid the continuous technological process.

Innovations will allow catching at least 5 mm-sized suspended matters and refuses out of wastes, saving domestic organic matters as much as possible, thus improving the quality of bio-treatment, as well as catching and neutralizing harmful and malodorous substances of organic nature evolving during wastewater treatment process. In addition, the volume of solids derived during the wastewater treatment, which are exported for disposal, will be reduced, and some of them, for example, sand or gravel particles will be used in construction.

During the construction work, over 80 thousand cubic meters of soil were excavated, more than 4 thousand cubic meters of concrete were laid, over 140 units were mounted as well as about 5 thousand running meters of pipelines and more than 34 thousand running meters of cables were laid on the BTF premises.

Nizhnekamskneftekhim's BTFs were launched in 1966 for treatment and decontamination of domestic and industrial wastewater coming from the industrial hub as well as from the population and enterprises of Nizhnekamsk. The initial capacity of the treatment facilities was 56 thousand cubic meters per day. After renovation in 1980, their capacity increased up to 213 thousand cubic meters/day. Currently, the BTFs daily receive about 190 thousand cubic meters of industrial (79%) and municipal wastewaters (21%).

The decision on the large-scale reconstruction of the treatment facilities was made following the strengthening of the requirements to the quality of discharged treated wastewater as well as on the background of active development of the industrial hub and creation of comfortable living conditions for the population of Nizhnekamsk.

The Federal Antimonopoly Service (FAS of Russia) pre-approved the acquisition of 25% of Nizhnekamskneftekhim's stock by TAIF, according to the agency's materials.

"TAIF PSC's request for a preliminary approval by FAS of the acquisition of 24.9999% of Nizhnekamskneftekhim PJSC's voting shares has been agreed on", FAS states.

According to the agency's materials, TAIF's share together with the stock held by Telecom Management and TransPort that are part of the same group with TAIF will be 77.7908% of the voting shares of Nizhnekamskneftekhim.

As reported earlier by RNS, on December 21, Tatneft signed the Agreement on selling its block of Nizhnekamskneftekhim's stock (402.8 million of ordinary shares) to TAIF holding company. The transaction price amounted to nearly RUB 32 billion.

On December 26, it became known that Tatneft ceased to be a shareholder of Nizhnekamskneftekhim.

At the end of March 2016, Tatneft got 24.99% of Nizhnekamskneftekhim's shares for RUB 20 bln. In November 2016, the Federal Antimonopoly Service (FAS) approved the request of Tatneft for the acquisition of 1.8076% of Nizhnekamskneftekhim's voting shares.

TAIF Group is one of the major diversified holdings in Russia. The Group consisting of 54 companies operates in the following business areas: investment and financial services, construction and production of construction materials, integrated and other services, while the main business area is oil and gas refining, chemistry, petrochemicals and energy. The holding assets include TAIF-NK PSC, Nizhnekamskneftekhim PJSC, Kazanorgsintez PJSC, and TGK-16 OJSC.

Nizhnekamskneftekhim PJSC will expand the isobutene dehydration catalyst (KDI-M) production capacity of the ethylene oxide plant. At the time being, the site is under preparation for new construction.

Today 2 thousand tons of ethylene oxide, iron-potassium dehydration catalyst and isobutene dehydration catalyst are produced by the plant each year, Rupec reports. Isobutene dehydration catalyst is used for manufacturing of synthetic rubbers and isoprene monomer in NKNK. The company expects that as a result of the capacity expansion NKNK’s demand for the KDI-M catalyst will be fully covered.

After the modernization, which is in progress now, the company’s isoprene rubber (SKI-3) production capacity will grow from 280 kta to 330 kta. Also following the start-up of the ethylene plant NKNK will be able to boost the production of methyl tertiary butyl ether (MTBE) used as an octane-increasing fuel additive.

According to NKNK's in-house magazine, the project aimed to improve the butyl rubber plant's efficiency is supposed to be completed by February 2017. The revamp will result in product output expansion up to 220 thousand tons in order to meet the obligations under the contacts with global tire manufacturers, in particular, Pirelli, Michelin, and Bridgestone.

A new Begishevo substation was launched, which was built by Grid Company for almost RUB 5 billion under the programme for improving the power supply security for the Nizhnekamsk Industrial Hub. The launching function was attended by Rustam Minnikhanov, the President of Tatarstan, Albert Karimov, the Minister of Industry and Commerce of the republic, and top-managers of oil refining and petrochemical companies of the Republic of Tatarstan. The correspondent of Realnoe Vremya visited the function, and learned from leading power engineers what the significance of a new substation is.

"This is a big event for our economy"

The decision to construct the Begishevo substation was adopted on behalf of the President at the end of 2014. A prerequisite for its construction, first of all, was the rapid development of oil refining and petrochemical companies concentrated mainly in Nizhnekamsk, where a special security of power supply was required. The power facility was built in just 13 months; the first stone of the future substation was laid in September, 2014, and the construction itself began in March, 2015.

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TAIF-NK PSC will take part in the 23rd International Specialized Oil, Gas. Petrochemistry Expo, which will be held within the framework of the Tatarstan’s Oil, Gas and Chemicals Forum on September 7 to 9, 2016 in the Kazanskaya Yarmarka (Kazan Fair) expo center (8 Orenburgsky trakt, Kazan).

The best information of the company’s commodity production and supply will be presented at the company’s exhibit booth located in the pavilion No. 2. Here one can discuss cooperation prospects with the company, and contact to commercial and technical specialists, too.

This year, the industrial exposition will be participated by some 200 companies from RT, Russia and abroad. The expo area will be over 2 thousand sq. m.

In addition, a number of conferences and round tables will be held within the framework of the forum. Rustam Minnikhanov, the President of Tatarstan, is expected to visit the exposition.

German EPC has sold thousands of industrial plants to more than 40 countries for 140 years. The company’s management came to the multi-sectoral TAIF holding in Kazan to present isocyanate, which is a component for polyurethane production, and a novelty for Russia. Jens Henkel, General Director, EPC Group told Realnoe Vremya about the largest projects in Russia, why developments in renewable power engineering are in low demand now, what products can be produced from wheat high conversion, and many others.

A $400 mln factory

Mr. Henkel, your company has sold a huge amount of equipment during its long history. However, you have arrived in Tatarstan to offer a launch of isocyanate production, which is also new for you. Why?

We started to cooperate with Chematur on isocyanate production technology. This project interested us three years ago because Russia doesn't have such a production, while the Russian President gave instructions on import substitution.

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EPC met with Nizhnekamskneftekhim (NKNK), a subsidiary of a diversified holding TAIF, to present its process of isocyanates manufacturing - one of the main components of polyurethane. A delegation of the German engineering group came to Kazan with the technology licensor Chematur, Sweden. A reporter of Realnoye Vremya investigated on the details of the talks.

To Cover Domestic Consumption Completely

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Nizhnekamskneftekhim Group gained RAS-consolidated revenue of RUB 86.3 billion in the period from January to June 2016. According to Interfax, the group did not revealed year-on-year figure in 2015.

According to Nizhnekamskneftekhim PJSC’s press release, on Thursday, the Board of Directors approved the company’s and totally NKNK Group’s financial and operating performance for the first six months. “The commodity output production target was exceeded by 8.8% during January to June of the current year. Over 336.7 thousand tons of rubber, and more than 106.3 thousand tons of plastics were produced. The year-on-year increment of output in physical volumes made up 2.3%. PBR-N (by 34.5%), HBR (by 14%) and plastics were issued more than they were during 6 months of the previous year. The sales revenue across NKNK Group amounted to RUB 86.3 billion in the first half of 2016”, as the company’s press release informs.

It was earlier announced that Nizhnekamskneftekhim PJSC’s RAS-based revenue increased by 7% to RUB 78 billion, and the net income grew by 34% to RUB 16.43 billion in the first half of the year.

The delegation of Mitsui, a Japanese holding company operating in 66 countries around the world, has visited Kazan. Today, the group runs business in 14 areas and to expand one of them – petrochemical business – the holding representatives held meetings with their key partners – the companies of TAIF Group. What interests the trade and investment company pursues in Tatarstan, what major challenges a company would face when doing business in Russia and in what way sanctions indirectly impact the Japanese holding — all this Ikuo Kasama, Managing Director, Industrial Projects in Europe, Russia, the CIS Countries and the Middle East said in the interview to Realnoe Vremya.

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Today, on August 20, Nizhnekamskneftekhim PJSC, with participation of RT's President, formally launched its linear alpha-olefin (LAO) production unit as upgraded. The unit's output capacity will be 37.5 kta. It is worth noting that Nizhnekamskneftekhim is the only alpha-olefin producer in the Russian Federation.

The unit started its output at 1 p.m. The symbolic launch of the unique production unit was attended, together with the President, by Albert Shigabutdinov, General Director, TAIF PSC, Vladimir Busygin, the Board Chairman, Nizhnekamskneftekhim and Azat Bikmurzin, the company's head as well as by a representative of the Licensor.

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Over 20 companies arrived in Kazan from the Land of the Rising Sun to participate in the Tatarstan – Japan forum. Mitsui, a trade and investment company, which is a long-term partner of TAIF Group, also investigated the opportunities of further cooperation with the local companies. During the negotiations, two holdings discussed common 'investment future' in the framework of the ambitious project of an ethylene complex construction in Nizhnekamskneftekhim along with the construction of own power energy source for the needs of NKNK. More details are provided in the article of Realnoe Vremya.

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Univation Technologies, a 100% subsidiary of The Dow Chemical, a US petrochemical giant, held negotiations with its strategic partner TAIF Group in Kazan. Steven Stanley, President of the US company, told about the changes that had occurred in the company’s business structure and about the plans to continue cooperation with TAIF Group. After this, he got an unexpected proposal from Albert Shigabutdinov, head of TAIF petrochemical holding, to establish a catalyst production facility in a free economic area called Alabuga (Alabuga SEZ). A correspondent of Realnoe Vremya attended their meeting.

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Top managers of TAIF holding met with the representatives of a globally known concern Siemens in Kazan in order to discuss their common interests in upcoming ambitious projects: the construction of a new energy source and an olefin production complex in Nizhnekamskneftekhim PJSC. A reporter of Realnoye Vremya attended the meeting.

Joint work on power energy

The representatives of Siemens had a very intense programme of the visit to Kazan. At the meeting held in the headquarters of TAIF, a partner company, Willi Meixner, CEO, Power and Gas Division, Siemens AG, immediately outlined new opportunities for further cooperation.

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A global leader in the industry and digital technologies, General Electric plans to participate in the tenders for the construction of new power generation facilities for a new ethylene plant of Nizhnekamskneftekhim PJSC. John G. Rice, President and CEO, General Electric stated this during the meeting with the management of TAIF PSC.

At the same meeting, Albert Shigabutdinov, General Director, TAIF PSC said the implementation of this project would require the construction of, at least, 500 MW power generation capacities.

The first tender will be announced in August 2016, and the contract may be signed at the beginning of November.

General Electric also announced its intention to cooperate with Nizhnekamskneftekhim in terms of the procurement of GE's technologies and equipment as well as the delivery of integrated solutions in the area of automation and monitoring of the industrial equipment in operation. General Electric expects to perform this work jointly with the leading global equipment vendors and engineering companies.

An American company also showed its interest in the supply of its compressors to new production facilities of Kazanorgsintez. It is planned to build a 27 mln cubic meter gas processing plant here. Soon, the online newspaper Realnoye Vremya will publish a detailed report on the visit of General Electric's delegation headed by John G. Rice and his meeting with Albert Shigabutdinov, head of TAIF Group.

From July 01 this year, ahead of the formal schedule, TAIF-NK PSC started producing a new BND 50/70 grade of road bitumen according to the new public standard. New bitumen production requirements – GOST 33133-2014Ń – shall enter into force from September 01, 2016 in the territory of the Customs Union states.

This regulatory document prescribes stricter assessment requirements for road surface ageing resistance along with introduction of some testing and bitumen adhesiveness determination methods that help simulate real impact on the road surface being used. TAIF-NK managed to assimilate the production of a new bitumen grade ahead of the schedule by making changes to its manufacturing technology. The capacity of the company’s bitumen production unit is 120 thousand tons a year.

Bitumen produced according to the new GOST requirements is expected to significantly improve the road construction quality. With new high-quality bitumen, highways will be provided with additional protection from early wear since advanced adhesive materials will be used.

It should be reminded that from September 01 this year, GOST 33133-2014 requirements will be mandatory for construction, reconstruction, major overhaul and utilization of motorways.

Kazanorgsintez PJSC continuously puts efforts to create healthy and safe working environment for the employees, and prevent industrial injuries and occupational diseases. Under the occupational safety agreement developed annually and concluded between the administration and the trade union committee, 63 activities at the cost of RUB 76 million were implemented during the past year. Working conditions were improved for 1,522 employees including 219 women. As a comparison, in 2014, the money spent for this purpose amounted to RUB 59.4 million.

In 2015, Kazanorgsintez received a letter of gratitude from the Ministry of Labor, Employment, and Social Security of the Republic of Tatarstan for the achievements in providing its employees with decent working conditions and development of the company's social policy.

The collective bargaining agreement (CBA) of Kazanorgsintez PJSC for 2014 - 2016 became the winner of the Best CBA contest in the category Enterprises and Organizations of the 1st Group Industries (2015), and the winner of the VI Best CBA republican contest in the category For Efficient Protection of The Youth's Social and Labor Rights (Industrial Enterprises and Organizations).

Construction of a new innovative energy generating unit based on a gas turbine unit (GTU) continues at Kazan CHP-3, a branch of TGK-16 OJSC.

As it has been revealed by Realnoe Vremya, currently the construction of the building for administrative and technical staff, where the main control desk of the unit and control systems electrical equipment will be located, is almost over.

Finishing and installation works are carried out intensively. In particular, fine and coarse filters, and a comprehensive air treatment system air heater are being installed at the comprehensive air filtering unit (AIU). Overhead crane is in the process of installation in the main building. Installation of auxiliary facilities and tank farms goes on. The gas turbine case installation is completed; this case is designed to limit the operating personnel's exposure to the turbine heat impact. The installation of temperature sensors and fans is in progress.

The construction of the main building and gas booster station is about to be completed at the moment. Besides, three gas compressors supplied by Atlas Copco, Germany, have been delivered to the construction site.

It will be recalled that the commissioning work is scheduled for the second half of 2016. This will provide a possibility to launch the unit in the 1st quarter of 2017 thereby doubling the installed electric power capacity of Kazan CHP-3.

the winner of the Best CBA contest in the category Enterprises and Organizations of the 1st Group Industries (2015), and the winner of the VI Best CBA republican contest in the category For Efficient Protection of The Youth's Social and Labor Rights (Industrial Enterprises and Organizations).

Within 4 months of this year, a huge amount of installation work has been carried out at the Heavy Residue Conversion Complex, a key strategic start-up unit of TAIF-NK PSC. In general, the site is completed for over 65% to date. Among the ready-for-start-up facilities, there is an air separation unit, where final work of instrumentation connection and adsorber loading is being carried out now. The circulating water supply unit operates in the mode of internal circulation and flushing of underground storage mains.

As far as HRCC's critical process units are concerned, key process pipelines are being laid at the hydrogen unit. In general, one third of the total installation is already over; the pipelines are completely prefabricated. The commissioning of the first train of this process plant is scheduled for June, and that of the train B will start in August.

Pipeline installation work at the sulfur recovery unit has been performed for 10%; 65% of pipelines have been prefabricated. The launch of the unit is scheduled for September.

At the VCC Unit – the core unit of the Complex, where the main process will run - the process equipment is completely installed; 85% of key pipelines and, at some sections, almost 95% of pipelines are laid. The contractors still have to install 45% of heat tracers designed to heat the equipment and the pipelines as well as pipelines flushing and blowing lines, and the instrumentation. The commissioning work at the HRCC's core unit is expected to start as early as in August.

Another facility of the complex, a flare unit, is being hydro-tested; soon, the installation contractor starts fixing a flare tip. Also, specialists have checked 400 pipelines; this week, they start hydro testing thereof, which is expected to be finished in June.

It is to be recalled that the company started construction of the HRCC at the end of 2012. The complex is based on a unique technology aimed to convert heavy oil products (vacuum gasoil and mazut) into light products such as straight-run gasoline, kerosene and diesel fuel of Euro-5 environmental standard. The technology was supplied by KBR T&C. The conversion depth will be 98.6%. TAIF-NK plans to launch the complex in the autumn of this year.

Today, TAIF Group, one of the largest business groups in Russia, published its annual report for 2015. In the last year, which was a year of its 25th anniversary, the holding managed to generate RUB 524 billion of revenue. And successful performance of the production programme allowed TAIF Group to further implement its strategic plans. A reporter of Realnoe Vremya had an insight into the Group's financial and production results for 2015.

Payments to The Budget of Tatarstan Rose By 45%

According to the document, the Group's aggregate proceeds amounted to RUB 617 billion in the reporting year having exceeded the 2014 result by RUB 34.7 billion or 6%. At the same time, the revenue made up over RUB 524 billion having exceeded the same indicator for the previous year - RUB 469.1 billion.

Strong economic performance enabled the Group to increase EBITDA, the indicator reflecting potential capacities in the field of financing and companies’ evaluation, by RUB 72.8 billion. According to the results of 2015, this indicator totaled over RUB 140 billion i.e. twice the figure of 2014.

The growth in the companies' earnings drives the growth in the earnings of the republic since TAIF is one of the major taxpayers in Tatarstan. Thus, last year, over RUB 63 billion of taxes and charges was paid out of the proceeds earned to all-level budgets and non-budgetary funds. This included RUB 21.2 billion paid to the consolidated budget of the Republic of Tatarstan that is by RUB 6.6 billion or by over 45% above the level of the previous reporting year.

Dynamics of TAIF Group’s aggregated proceeds for2013-2015, RUB billion

As suggested by the annual report, financial and economic performance of the holding company for 2015 have become the most successful over the entire period of its activity. Thus, last year, the sales proceeds of TAIF PSC inclusive of the indirect taxes amounted to RUB 111.3 billion while revenue grew by 13.5% and totaled RUB 94.4 billion. Like in the preceding years, the major share of the revenue profile consisted of the proceeds from sales, renting of property and suretyship services.

The company's financial sustainability indicators calculated based on its annual performance exceeded the standard value. Thus, equity-to-total-assets ratio amounted to 0.9, and equity-to-debt ratio equaled to 7.2 showing that the company’s own funds make up seven times the amount of liabilities.

Over RUB 69 Billion Spent For Modernization

The company's report contains production performance data. For many years, the Group's companies have been holding strong positions in the Russian petrochemicals and oil refining market. Thus, in the reporting year, TAIF Group’s share in the overall output volume in Russia amounted to 42% for plastics, 74% for rubbers, 8% for straight-run gasoline, 3% for diesel fuel, and 2% for motor gasoline grades. At the same time, its share in the entire production volume across Tatarstan amounted to 100% for plastics, almost 100% for rubbers, 100% for straight-run gasoline, 60% for diesel fuel, and 90% for motor gasoline grades as of the end of 2015.

Petrochemical and oil products manufactured by the Group are in high demand both in the domestic market and abroad. And despite the economic uncertainty increased lately and extension of economic sanctions by the US and EU states, the Group managed to raise its revenue from selling petrochemical and oil products by RUB 55.1 billion from the level of 2014 to RUB 524.2 billion . At the same time, domestic sales made up 67% of the total sales revenue. The share of export amounted to 33%. Target foreign markets where TAIF Group’s companies seek to sell their products are mainly the countries of Northwestern Europe, Mediterranean and Asian markets, the countries of Northern and Southern America, Africa and the CIS.

TAIF Group's sales revenue in the foreign and domestic markets for 2015

And the Group's sales proceeds from the chemical and petrochemical businesses amounted to RUB 261.5 billion in 2015 versus RUB 224.5 billion earned in 2014. Revenue grew by 16.5% - from RUB 202.3 billion in 2014 to RUB 235.7 billion in 2015. At the same time, investments in fixed assets made up RUB 25.5 billion or 1.5 times the amount invested in the previous reporting period.

Due to the strategy adopted, the main production capacities for the key products have been expanded over 15 years. Thus, ethylene production expanded 1.5 times and polymer production – 3.2 times including a 2.3 times expansion of rubbers, and a 3.8 times expansion of plastics.

Dynamics of TAIF Group’s chemical and petrochemical production capacities expansion for 2000-2015, kta

The operating results achieved by TAIF Group’s companies are closely linked with huge investments made. TAIF has been implementing large-scale investment projects for the past few years aimed at the construction of new production facilities and revamp of those already existing. The investments made by TAIF Group’s companies in 2015 equaled to RUB 69.5 billion.

All investment programmes are of a long-lasting nature and are continuously upgraded with a glance to the current economic environment. Implementation of the 2025 development programs is estimated to cost RUB 492 billion. This will allow earning proceeds in the amount of ca. RUB 1.5 trillion and increasing tax payments to all-level budgets to RUB 134 billion as early as in 9 years.

In addition to petrochemicals and power energy, TAIF Group has businesses operating in other areas, too, namely, in the fields of construction, telecommunications, trade, services, and investments. TAIF Group's revenue from operations in other business areas made up RUB 123.5 billion having grown by 9.5% from RUB 112.7 billion in 2014.

Record Processing Volumes

The development of petrochemical, chemical, and power energy sectors as the areas of strategic significance for the industry and economy of the Republic of Tatarstan is the main vector of TAIF Group's activity. These businesses comprise the major share in the group's consolidated indicators. Thus, over 76% of the aggregate proceeds i.e. RUB 471.6 billion were earned by oil and gas processing, chemical, petrochemical and energy companies.

Last year was a watershed moment for oil production and oil and gas processing sectors of the industry because of a dramatic slump in global oil prices. In such a complicated situation, TAIF-NK PSC processed a record-breaking quantity of oil and gas feedstock - 8.4 million tons. Inward feedstock conversion depth made up 73.0% in the reporting year, slightly below the industrial average in Russia as a result of worsening oil quality from year to year. TAIF-NK is one of the few Russian refineries processing the heaviest and most sulfurous crude oil. This inevitably leads to uncontrollable deterioration of the process units they were not designed for. Therefore, TAIF-NK faces an urgent need to introduce new technologies and deepen oil refining.

Dynamics of hydrocarbon feedstock conversion depth across TAIF Group's oil and gas processing sector for 1995 - 2015, %

In aggregate, according to the results of 2015, TAIF-NK PSC produced 8.2 million tons of products including 5.1 million tons of light oil products. The company's revenue from oil and gas processing operations amounted to RUB 143.2 billion versus RUB 132.5 billion for the previous reporting year. Sales proceeds amounted to RUB 184.4 billion, however, while in 2014 the same figure was RUB 199.9 billion. Such a picture is attributable to the current macroeconomic situation in the world - not only oil prices dropped, but prices of oil products decreased much more.

Despite a weakened ruble and inflation, the company managed to implement all the projects and programmes planned to the total amount of RUB 40 billion in 2015.

At the end of the last year, TAIF-NK started producing gasoline meeting a new Euro-5 environmental specification ahead of the schedule set by the Russian government that became possible due to an accelerated modernization. The company continuously seeks to improve the quality of not only motor gasoline but road bitumen grades, too.

To improve the road surface quality in the Republic of Tatarstan and neighbor regions, the existing road bitumen unit of TAIF-NK will be modernized, while a polymer modified bitumen (PMB) production unit is under construction.

A new unit will allow adding the molecules of synthetic rubber to molten bitumen. This structure of road bitumen, though substantially increasing its production cost, will allow reaching some of the highest quality standards existing globally.

Bitumen with such specifications extends the roadway service life 2-3 times since it has higher resistance to deformation, cracking and rutting when exposed to excessive vehicle loads. Its application will improve road traffic safety level and create more comfortable conditions but only subject to meeting all other existing requirements. Indeed, construction of good roads requires not only high quality bitumen but also strict adherence to the technologies. For example, in Finland, Germany and Latvia, only high-strength rock materials - granites and marbles - are used for the upper layers of asphalt pavement instead of our gravel and rubble materials. Besides, road builders in these countries must necessarily wash, dry and grind rock fillers. Simultaneously, a certain temperature is maintained in the process of asphalt laying. It is adherence to these technologies and many other aspects that guarantees quality and long service life of the road.

Besides, TAIF-NK is about to complete its largest project - the construction of the Heavy Residue Conversion Complex that will allow discontinuing the production of the oil produce having low market price. As we reported earlier, the project is based on a unique Veba Combi Crańking technology, which will make the production process waste-free while crude conversion depth will reach 98.5%. And the engineering solutions implemented in the HRCC project eliminate the risk of any environmental impact in the course of the plant operation.

Focus on Development of Own Power Plants

The prerequisite for uninterrupted development of the Group's production facilities is the energy sector. Last year, Russian industrial enterprises continued increasing energy production at their own power plants. This allows reducing companies' dependence on the power energy prices and their market fluctuations, cutting expenses for the construction of grids and utility connection, reducing the losses of power energy and the costs of its transmission to grids.

The core activity of TAIF Group in the area of energy generation is represented by an energy company TGK-16 OJSC, whose operations are aimed to ensure a reliable and uninterrupted supply of power and heat energy to the holding's industrial enterprises and the population of the Republic of Tatarstan. The company's aggregate revenue for 2015 made up RUB 21.8 billion against RUB 21.6 billion in 2014.

In terms of the installed power capacity, TGK-16 ranks second among the generating companies in Tatarstan. As of the end of 2015, this indicator in TGK-16 OJSC was 1,264 MW or 17% of the entire installed electric power capacity of the power generating companies in Tatarstan. Installed heat capacity of TGK-16 OJSC's co-generation plants amounted to 5,681 Gcal per hour or 43% of the overall installed heat capacity in the republic.

In the revenue profile of TAIF Group’s energy companies for 2015, the largest share, in monetary terms, falls on the sales of heat energy, which makes 61%.

TAIF Group’s energy companies revenue profile for 2015

TGK-16 OJSC is the major producer of heat energy in Tatarstan. Among the company's power plants, the largest heat energy output falls on Nizhnekamsk CHP (PTK-1). Its share amounted to 81% of the entire volume in 2015.

At the time being, a priority investment project is the construction of a new energy generating unit at Kazan CHP-3 on the basis of a state-of-the-art 389.64 MW 9HA.01 gas turbine supplied by GE. The unit will allow increasing power energy output and substantial reduction of fuel equivalent consumption for power supply.

RUB 16 Billion For Social Projects

A prerequisite for successful operation and development of a business is a comprehensive work focused on implementation of social programmes including those in the field of environmental protection and occupational safety. The holding spent RUB 8.5 billion for environmental protection activities in 2015. The costs of industrial safety activities amounted to RUB 2.8 billion and RUB 1.4 billion was spent for occupational safety.

In 2015, TAIF Group companies spent RUB 16 billion for social projects in the Republic of Tatarstan including the support to the needs of children, education, culture, health care and sports.

In addition to promoting mass sports and healthy lifestyle, TAIF Group traditionally pays much attention to the support of professional sports in the Republic of Tatarstan. Owing to a long-term cooperation and financial support of TAIF Group, the key Tatarstan teams successfully take on Russian and international competitions. TAIF Group's companies spent over RUB 2.46 billion for promotion and support of sports and healthy lifestyle.

Within the framework of the program aimed at the revival of an open-air museum on Sviyazhsk Island-Town and an ancient town of Bolgar, TAIF Group continues financing the restoration work carried out on these sites. In 2015 alone, RUB 400 million was spent for these purposes. And total investments since 2012 have exceeded RUB 600 million.

A separate focus is put on social programmes for the Group's employees, whose number exceeds 43 thousand people today. The average income level of TAIF Group’s staff reached RUB 40.5 thousand per month having exceeded the republic-wide average by 38%, and the national average – by 19%.

In 2015, through participation in the Republican Social Mortgage Program, the Group’s employees were provided with 40.9 thousand sq. meters of living quarters. Besides, TAIF Group successfully implements its own supplemental housing program, under which TAIF Group’s employees were provided with 83 thousand sq. meters of living quarters in 2015. Under this programme, the employees will be granted interest-free loans to make down payments. In 2015, these loans totaled RUB 333 million.

Thus, the holding is able to constantly fulfill its social commitments due to stable financial performance, which constantly grows as a result of reasonable management of own capital. That, in its turn, enables the company not to abandon investment projects in unstable economic environment.

This autumn, a new production complex of the multi-industry holding (TAIF) will be able to convert oil residues — vacuum residue and mazut — into diesel fuel meeting Euro-5 standard and straight-run gasoline.

'It's like the launch of a spacecraft with a human being inside. We have no right to make a mistake' Albert Shigabutdinov, head of TAIF commented on the commencement of the start of the Heavy Residue Conversion Complex commercial operation during the meeting with the partners - KBR T&C, USA. The licensor of the core technology headed by its President John Derbyshire arrived in Kazan to meet with the top managers of the companies forming TAIF Group and to discuss all issues of the forthcoming autumn launch of this ambitious project, which will make the refining process almost waste-free. A correspondent of Realnoe Vremya online newspaper observed the negotiations.

Harder of The Hardest

‘We knew that the project would not be an easy one and we were ready for it. However it turned out to be even more difficult than we had expected' Albert Shigabutdinov, head of TAIF said at the beginning after welcoming the American delegation of KBR T&C, the licensor of the Veba Combi Crańking (VCC) process. This process is the core technology of the Heavy Residue Conversion Complex of TAIF-NK PSC. This project will be the first of its kind in Russia and the largest VCC-based plant globally. Recently, the construction of two smaller pilot plants with much lower feedstock processing capacity designed on the basis of the same technology was completed in China.

'I wanted to start with the same point, i.e the complexity of the VCC Unit' John Derbyshire, the President of KBR T&C responded. His company with a total headcount of 27 000 employees operating in more than 70 countries globally is one of the largest companies in the world in the field of engineering, procurement and construction. The company traces its roots back to the times when motor cars were rarity and telegraph was the primary tool of communication.

Today, KBR T&C actively participates in the largest and most innovative global-scale projects that are often implemented in remote areas with severe natural conditions.

'When I visited Kazan two years ago, oil price was USD 127 per barrel. So, the changes are dramatic. Now everyone is in a tough situation and suffers because of the drop in oil prices. Nevertheless, we observe a good progress in your work on the start-up of the VCC technology. Many specialists around the globe keep an eye on TAIF-NK's project. And one of the objectives of our meeting is to discuss all the issues and potential areas of concern related to the start-up of the technology. We also should draw up a detailed start-up plan' John Derbyshire noted having assured the participants of his personal interest in the successful implementation of the project. 'Once the technology is put into commercial operation, TAIF-NK's refinery will become the most successful one in the world' the President of KBR T&C stated with confidence.

The complex will allow achieving almost non-waste oil refining process. After three-stage conversion of heavy residues into synthetic oil in the VCC process, the product will undergo a standard hydrocracking process in the fixed-bed catalyst, which will finally give us high-margin light oil products: propane and butane fractions, naphtha, diesel fuel meeting Euro-5 environmental standard, as well as clean vacuum gas oil, which is the main raw material for the production of Euro-5 gasoline. The launch of the complex will bring almost doubled profits.

In general, VCC technology has existed since the 1930s and was developed in Germany for the processing of coal into motor gasoline at a 750-atmosphere pressure.

Later, this technology capable of processing a wide range of heavy raw materials, though requiring high pressure, was forgotten: at that time, light oil was produced in sufficient quantities, which allowed manufacturing light oil products without application of special technologies and, most importantly, incurred much less costs. At the beginning of the 2000s, however, it was BP who got back to this technology and upgraded it. As a result, it has become possible today to process heavy raw materials at much lower pressure of 210 atmospheres. In 2010, BP transferred the right to sell the license and the technology worldwide to KBR, an American company.

'The technology itself raises no doubts. However, we have some questions...'

An intrigued head of the licensor company asked when the launch of the entire complex was expected. In response to this, Vladimir Presnyakov, Deputy General Director, TAIF PSC said: 'We plant to charge the first batch of feedstock in September. We aim to achieve the commercial operation mode by the middle of November, but not later than in December. Nevertheless, all that has not been proven commercially yet raises concerns.

'The technology itself raises no doubts. There are questions concerning the engineering part in respect of the operation of all the equipment purchased. The second point: how will the proprietary pressure let-down valves work? And the next one is the staff training. Of course, we conduct educational activities and trainings, too. We even train our staff to disassemble and assemble the back-up valves within 4 hours. But still we should eliminate all possible mistakes and problems that may occur during the plant startup taking into account its huge capacity' Vladimir Presnyakov noted. 'Well, this is like the launch of a spacecraft with a human being inside, so we have no right to make a mistake' Albert Shigabutdinov commented on the commercial startup of the HRCC.

In addition, in the course of the discussion the partners often referred to the experience of China, which faced some problems after launching a VCC unit. 'We had some issues communicating with the client. They were not eager to cooperate in such a tight manner as we do. Besides, they switched to another feedstock, different from the one the unit was designed for initially' Steve Mayo, Director, Refining Technology, KBR T&C said to explain the reason of the problems arisen at a Chinese plant.

It was decided to discuss the aspects of the coming start-up in more details right at the site of the Heavy Residue Conversion Complex in Nizhnekamsk, where the American company also planned to visit Nizhnekamskneftekhim and thoroughly discuss potential cooperation in the framework of the ethylene plant construction, namely, the construction of two cracking furnaces. 'Besides, based on the information we have, the main objective of NKNK is to maximize the production of benzene, divinyl, and butylene-isobutylene fractions. We would like to help you in this area, too' John Derbyshire highlighted.

More details regarding the interests of KBR T&C in Russia are coming in a soon-to-be-published interview taken by Realnoye Vremya, and the details about the projects of two major holdings - KBR T&C and TAIF - in our further publications.

Reference.

In 1998, M.W.Kellogg and Brown & Root Engineering and Construction merged that resulted in the creation of one of global leaders in engineering, procurement, construction and services - KBR.

M.W. Kellogg was established by Morris Woodruff Kellogg in 1901 as a small pipe production company in New York, which later became a world-class engineering company. The expertise and knowledge of Kellogg in the area of engineering and its aspiration towards innovations led to the development of cutting edge technologies and new achievements in the industry. In the 1960s, the company made a revolution in the fertilizer industry having developed a new ammonia production technology that allowed food production growth worldwide. In the late 1980s, M.W. Kellogg was acquired by Dresser Industries, which later merged with Halliburton in 1998.

Brown & Root Engineering and Construction, whose core business is road construction and general contract work, was established in 1919 when the brothers George and Herman Brown created a construction company in Texas. Brown and Root started its business activity with road construction, however, soon it engaged in other activities. After the end of the World War II, Brown & Root focused on offshore projects. In 1947, the company entered the global market after the construction of the first offshore oil platform located in the sea, 43 miles away from the shore of Morgan City, Louisiana.

Brown & Root performed construction works for many benchmark projects in Houston including the Gulf Freeway, Soccer Stadium of the Rice University, NASA objects, Minute Maid Park and also in the framework of the projects implemented by oil refining and petrochemical companies and offshore platforms driving the global economy. In 1962, Brown & Root was acquired by Halliburton.

KBR (abb. Kellogg Brown & Root) carved out from Halliburton in 2006 and reached a whole new level after successful IPO on the New-York Stock Exchange. Today, KBR has customers in more than 70 countries.

In 2014, KBR optimized its business and focused on its core areas: engineering, procurement, construction, and services in the framework of hydrocarbon-related projects, and government orders.

Local biological treatment plants (BTP), where state-of-the-art wastewater and oily wastes treatment methods are applied, were put into operation at the site of TAIF-NK after a large reconstruction work.

Renewed BTP have five treatment stages where each stage is furnished with European equipment allowing upgrade of the purification degree at the outlet to 0.1 mg/l, while the normal rate is 5 mg/l, simultaneously reducing the quantity of the water withdrawn from Kama River due to a closed-cycle water circulation system.

The oil and gas processing complex is the key driving element of the Tatarstan’s economy. The Kama Innovative Regional and Production Cluster industrially specialized in auto industry, oil refining and petrochemicals, has been determined as the republic’s economic growth point. TAIF-NK PSC (TAIF Group) is called one of the key members of Innokama, the basic development center of the Kama agglomeration.

TAIF-NK’s Heavy Residue Conversion Complex, which is now under construction, is one of the priority national projects, and even today experts qualify it as a future model of the global oil refining industry. Albert Karimov, Deputy Prime Minister of the Republic of Tatarstan, Minister of Industry and Trade, who made a working visit to the HRCC construction site, defined a new enterprise as one of the Tatarstan’s key economic projects, and expressed confidence that the company would timely complete the entire construction-related works...

An alignment meeting was held in Kazan with participation of the chief power engineers of TAIF Group’s industrial enterprises. The meeting was mainly dedicated to the implementation of energy saving activities in 2015. Nizhnekamskneftekhim PJSC, the major energy consumer in the Republic of Tatarstan, presented its achievements in this area. Alexander Vdovin, Chief Power Engineer, noted that the company continues implementation of the corporate power energy program developed till 2016.

This year, as part of this programme, NKNH continues modernization of the main step-down and distribution substation where out-of-date and obsolete equipment is being replaced with the state-of-the-art equipment meeting the world standards. As a result, power supply reliability is improved at the company’s production facilities.

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At Kazanorgsintez staff conference, the results of the 2014-2016 Collective Labor Agreement implementation were summarized. The conference was attended by Ruslan Shigabutdinov, Deputy General Director, TAIF PSC, Board Chairman, Kazanorgsintez PJSC and Farid Minigulov, General Director, Kazanorgsintez PJSC.

Ilshat Mingazov, Head of Kazanorgsintez Labor Union, spoke about the implementation of the Collective Agreement. Based on the results of 2015, Kazanorgsintez expects sales revenue in the amount of RUB 68.6 billion showing ca.125% growth if compared with 2014. Net profit is expected to exceed RUB 19 billion having grown by 316% year-on-year. Due to such stable growth of financial and economic indicators, Kazanorgsintez is able to implement a number of social projects aimed to ensure social protection of its employees and their families. Today the company’s headcount is 8,603 employees. Average salary in the company exceeds the average level in Kazan...

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Yesterday, on February 19, the holding company Tatnefteprodukt launched a new fuel filling station in Kazan. Car drivers may benefit from special low prices until the end of the month as well as receive The Company’s Friend cards as gifts!

The station is located at the intersection of Krasnokokshayskaya and Tabeykin streets on one of the busy thoroughfares of the city. It is an absolutely up-to-date filling station with a shop, where a car driver will find the needful for his/her journey, can have a snack and drink coffee, and certainly fill up his/her car with high quality fuel including branded ECO fuel.

The quality is the most important factor determining the selection of a filling stations, Ivan, one of the first clients of the new station, says with confidence. ‘Of course, I give much care to the quality of fuel, consider various opinions. I also give care to my car. If it operates without fail, better yet more cost-effectively and efficiently, it is very good’, he says.

Today, Ivan had another good reason to drive to this new filling station because he became one of participants of the drawing. On February 19, three 20-liter gasoline certificates were raffled among the clients.

However, these are not all the pleasant surprises — from the opening day on February 19 until the end of the month, refuelling on the Krasnokokshayskaya street is available at a special low price. In addition, until February 23, the clients will receive The Company’s Friend bonus card as a gift.

The Company’s Friend is one of the most popular loyalty programs in Tatarstan. This is a universal program that consolidates partnership organizations granting discounts and other benefits to the card holders. Besides, the clients can save a lot by collecting bonuses when refueling. The partnership network The Company’s Friend includes currently over 300 organizations, among which there are more than 500 fuel filling stations, car washes, restaurants and cafes, medical centers and beauty salons, entertainment centers and shops.

As of January 1, 2016, the net profit of Avers Bank amounted to RUB 1.64 billion, therefore having ranked first in terms of profit earned among the banks of the Republic of Tatarstan.

Avers’s assets exceeded RUB 61.55 billion having grown by 31% or RUB 14.52 billion year-on-year. The capital reached some RUB 19.2 billion having grown by RUB 1.6 billion during the year. The bank’s credit portfolio grew by 68% or RUB 9 billion and reached RUB 22.65 billion.

In 2015, Avers Bank managed to reach the targeted net profit notwithstanding tough economic situation, Kamil Yusupov, Chairman of the Board noted. Our strong client base and reliable reputation allowed the bank to significantly improve all the indicators and high profitability of all business segments of the bank proved the sustainability of our business model. The coming year will be very complicated, however we have prepared well to the work in a new environment and are committed to following our strategy and supporting our clients.

Today, a new Chairman was introduced at the meeting of Avers Bank’s Board of Directors. A 43-year-old former Head of the Directorate of VTB Bank’s division in Tatarstan (VTB in Tatarstan) Kamil Yusupov will start his work in the bank tomorrow. Rustam Sayakhov, former Chairman of Avers Bank’s Board of Directors, announced resignation from his powers and said that the goals and objectives of his future work within TAIF Group were under discussions at the time.

Working more creatively and independently
As it was reported in Realnoye Vremya, the new Chairman of Avers Bank Kamil Yusupov is the former head of VTB in Tatarstan. In the first interview to our periodical in his new position he said that “the bank’s shareholders set very serious tasks and together with the Board of Management and with the entire team of Avers we will make every effort to fulfil these tasks. Certainly we will continue and increase reliability, which is ŕ tradition".

Yusupov declined to announce specific target indices pursued by the bank. “At the time being, it is difficult to be specific. In the near future I will get into the swing of things, familiarize myself with the bank to a greater extend and then will be able to come up with more details”, Yusupov said. According to him, Avers Bank is a big bank with key shareholders and very significant capital. Therefore, the bank has many opportunities. It should move towards further universalization, asset building and expansion of its market share in Tatarstan and outside. Yusupov pointed out the ultimate goal – efforts shall be made to further strengthen and expand this large federal bank.

A number of programs has been adopted in the republic aimed to develop the domestic petrochemicals market

Tatarstan’s enterprises occupy a considerable petrochemicals market share in terms of majority of product items. The President of Tatarstan Rustam Minnikhanov revealed this today at the Big Chemistry Forum in Ufa. “Potential of the domestic market, high import share for a number of its segments are a basis for us to make decisions related to revamping of the existing production facilities and construction of new ones”, the RT President said.

TGK-16 OJSC (a 100 percent subsidiary of TAIF PSC) selected GE RUS LLC, Russian representation of General Electric, as a winner of the bidding for general contractor for the modernization of Kazan CHP-3. Totally 12 proposals were submitted for the bidding. Upon the assessment of the tender offers GE RUS LLC was selected as the winner, which offered its services at the cost of RUB 9.23 billion. while the reserve price was RUB 9.32 billion.

Rustam Minnikhanov called Tatarstan’s oilmen for targeting, first of all, Russian market on the back of an unstable political situation and also searching for new customers in Arabian countries and South-East Asia. He said it on April 14 during the General Meeting of Nizhnekamskneftekhim OJSC’s Shareholders (NKNK), which is the leading Russian plastics, synthetic rubber, and polyethylene producer.

“We (Tatarstan petrochemicals producers) depend very much on export; half of our products are exported. We must process the maximum quantity of products in the Republic. For example, polystyrene, an extremely valuable product, for which NKNK’s production volume is 50 KTA, provides a small and medium business market", President said having mentioned as an instance of consumer the polymer package plant Ay-Plast.

Rustam Minnikhanov participated in the event held to mark the 55th anniversary of the company’s establishment and the 50th anniversary of its first output production.

Kazanorgsintez OJSC is the pride of the republic. This was stated today by the President of the Republic of Tatarstan Rustam Minnikhanov at the function to mark the 55th anniversary of the establishment of Kazanorgsintez OJSC and the 50th anniversary of its first output production.

Nizhnekamskneftekhim OJSC will ensure consistency of the relationships with Nizhnekamsk. These intentions were reaffirmed by the participants of an extraordinary general meeting of the company’s shareholders that took place in Nizhnekamsk today. Along with the management of TAIF Group and the Board members of the petrochemical giant, it was attended by the Prime Minister of the republic Ildar Khalikov and the mayor of Nizhnekamsk, head of Nizhnekamsk municipal district Aydar Metshin.

Hyundai Corporation, South Korea, is in a position to expand its cooperation with Tatarstan in the field of oil refining, power engineering and waste disposal, according to the information ITAR-TASS obtained from the press service of the Head of the Republic. A respective agreement was reached today at the meeting held in the Kazan Kremlin between Rustam Minnikhanov, the President of the republic, and Keun Woo Park, General Director, Hyundai Corporation Moscow and CIS.

TAIF-NK refinery operates at Nizhnekamsk Industrial Hub since 1997. Today this is a leading company, which is among the top ten refineries countrywide. Last year, the enterprise’s feedstock processing capacity amounted to 8384 tons and 8132 tons of commodity output was produced. The company’s share in the overall oil feedstock throughput in Russia is 3.1%, while in the Republic of Tatarstan it is 53.7%.

On Wednesday, Nizhnekamskneftekhim OJSC’s Board of Directors elected Oleg Nesterov General Director, according to the company’s information. Earlier Nesterov worked as Deputy General Director for Production.

In the period from January to June, Kazanorgsintez OJSC gained a RAS-based net income in the amount of RUB 1.37 billion that is by 1.8% higher than the year-on-year value. The company’s sales revenue made up RUB 23.51 billion (growth by 5.9%). The products’ prime cost grew by 6.3% up to RUB 18.47 billion, the gross profit – by 4.5% up to RUB 5.049 billion, the sales income — by 3.6% up to RUB 3.27 billion, and the income before tax — by 4.9% up to RUB 1.77 billion.

TAIF-NK PSC (TAIF PSC’s 100 per cent subsidiary) plans to receive RUB 1, 15 billion (less VAT and excise) in 2013 from oil product sales through its own network of petrol filling stations. As stated in the company’s RAS-based report 2012, TAIF-NK-operated filling stations’ revenue grew by 25.9% last year, if compared to the year 2011, and amounted to over RUB 1 billion. Thus, it is planned to increase revenue by 15%.

Nizhnekamskneftekhim (NKNK, a TAIF Group company) expects to obtain a front-end engineering design (FEED) for a 1 mtpa ethylene plant by the end of summer, Azat Bikmurzin, the company’s Deputy General Director, reported on the conference “Russian and CIS Petrochemicals 2013” in Moscow. “We are developing FEED for the ethylene plant and plan to obtain a comprehensive project documentation package by the end of summer in order to commence expert review”, he said. As announced earlier, FEED for the ethylene plant is developed by an international engineering company Chicago Bridge & Iron Company. The next stage will be selection of the project financing options. Project documentation for olefin production facility is supposed to be completed in spring 2014, Mr. Bikmurzin added.

She assured the enterprise’s employees that there are no plans to increase the retirement age.

Today, Deputy Chair of the Government of the Russian Federation Olga Golodets visited Kazanorgsintez OJSC in the framework of the working visit to Kazan. Together with Rustam Minnikhanov, President of Tatarstan, Vice Prime Minister looked over the production shops and met the employees of the enterprise. It was reported by the press service of the President of Tatarstan.

During the tour over the enterprise the President of Tatarstan told to the Russian Vice Prime Minister about the extensive modernization program implemented at Kazanorgsintez OJSC. After that the guests visited one of new production facilities – a polycarbonate plant, where they met with the employees.

The 2012 operational results of TAIF Group and its holding company have been summarized.

Today the President of Tatarstan Rustam Minnikhanov attended TAIF PSC’s Annual General Meeting of Shareholders where the operational results of TAIF Group and its holding company for 2012 were summarized.

As a result of the second stage of the development programme, Kazanorgsintez OJSC (a TAIF Group company) plans to reach revenue in the amount of RUB 120 billion and a RUB 15 billion net profit, Albert Shigabutdinov, General Director, TAIF PSC reported yesterday. “The second stage development programme is now being elaborated; it is not approved yet,” he reported. According to him, the main development is supposed to occur due to manufacturing of new products.

Today, the annual general meeting of shareholders of the petrochemical flagship is held in Nizhnekamsk. DAILY’s editor reports the detail.

The function to mark the start-up of the ABC-plastics unit was timed to coincide with today’s annual general meeting of shareholders held in Nizhnekamskneftekhim OJSC.

This unit as well as a new synthetic rubber production line launched at the plant was attended by the delegation headed by Rustam Minnikhanov, the President of Tatarstan.

Toyo Engineering (Japan) and TAIF-NK PSC (TAIF PSC’s hundred per cent subsidiary) concluded an engineering and procurement contract within the framework of -the heavy residues conversion complex construction project, according to the contractor’s report.

On February 26, 2013, a meeting chaired by the First Deputy Prime Minister, the Republic of Tatarstan, R. Muratov took place in Nizhnekamskneftekhim OJSC where the issues of production and consumption volumes statistics for innovative including nanotechnology products were discussed. A discussion was held at the meeting attended by the representatives from the ministries and departments concerned with regards to a current state of affairs in Tatarstan and the company, in particular, in the aspect of innovations and nanotechnologies application; also, a focus was put on the tasks aimed to join efforts of academic institutions and enterprises within the petrochemical cluster in order to create new approaches to production of competitive goods. Nizhnekamskneftekhim OJSC is the biggest petrochemical company taking leading positions in the Russian Federation in the field of synthetic rubbers and plastics production. It is a part of TAIF Group. It was established in 1967; the key production facilities are located in Nizhnekamsk, the Republic of Tatarstan. The product slate includes over 140 items. The company’s products are exported to 52 countries of Europe, America and South-East Asia. The share of exported volume in the total output equals to about 50%.

A Tatarstan petrochemical giant Nizhnekamskneftekhim has completed successfully a milestone year 2012. The team has marked its 45th anniversary with overfulfillment of the production plan and many record-breaking achievements in production.

In 2010, the group earned record-breaking profit in the amount of RUB 340 billion.

Today, the Annual General Meeting of PSC “TAIF” Shareholders was held in Kazan. The President of Tatarstan Rustam Minnikhanov took part in the meeting.

A. Shigabutdinov: “2010 was the most challenging year in the whole history of the company”.

In 2010, PSC “TAIF” produced commodities and rendered services to the amount of RUB 340 billion, including RUB 260 billion in the oil refining and petrochemical sector. It is 3 times the performance of 2005 and 10 times – the performance of 2000.

In 2010 PSC "TAIF" produced goods and rendered services to the amount of RUB 340 bln, including RUB 260 bln in petrochemicals and refinery. This is 3 times more than the amounts in 2005 and 10 times more than in 2000.

As of December 1, 2015, the net profit of Avers Bank amounted to RUB 1.35 billion, thus Avers again earned the highest profit among the banks of the Republic of Tatarstan.

Avers’s assets as of the beginning of the month amounted to RUB 61.24 billion, having increased by 24% or RUB 11.86 billion from the level year-on-year. The capital exceeded RUB 18.93 billion having grown by RUB 1.44 billion year-on-year.

The bank’s loan portfolio in the period analyzed has grown by 89.75% or RUB 11.76 billion, having amounted to RUB 24.86 billion. “These results confirm the bank’s reliability and our strive for constant development, Kamil Yusupov, Chairman of the Board, Avers Bank LLC noted. Traditionally conservative credit policy, constant work on the improvement of the process efficiency and focusing on the portfolio quality will allow us to show strong financial indicators further, too.”