OJSC "Nizhnekamskneftekhim" Board of Directors meeting was held

The regular meeting of OJSC “Nizhnekamskneftekhim” Board of directors under the chairmanship of PSC “TAIF” General director Albert Shigaboutdinov took place on December 25, 2006.

The Board of Directors discussed the strategic development program of OJSC "Nizhnekamskneftekhim" for the period 2008 - 2012. This program presupposes full-scale construction and commissioning of large-tonnage facilities, most importantly, synthetic rubbers and plastics. The production of plastics was started by the company four years ago with the launch of modern production facilities of polystyrenes and polypropylene.

The Board of Directors approved the realization of ecological policy of OJSC “Nizhnekamskneftekhim” based on a principle of sustainable development, the policy that fully corresponds to the requirements of ISO 14001:2004 international standard.

The another point discussed during the meeting was a question of participation of OJSC «Nizhnekamskneftekhim» in realization of List of priority actions for control of the environment of Nizhnekamsk and Nizhnekamsk district for 2006 - 2008. The proposal for financing of reconstruction of environmental facilities being in ownership of this joint stock company was accepted for realization with RUR1,023 mln of total costs for the period 2007 - 2010.

The Board of Directors approved the plan of activities of auditing committees, employment committees, and reward committees for the first half of 2007, as well as the Regulations on the independent directors of OJSC “Nizhnekamskneftekhim”.

The members of Board of Directors took into consideration the given exposure draft on dividends policy, the report on development of one-step cooking of isoprene according to the prepared program; they also positively estimated the work made for start-up of polypropylene production.



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