Sustainable growth in key areas: TAIF sums up the results of 2018

TAIF Group's net revenue reaches 757,6bn rub

In 2018, according to the data presented in the annual review, the net income of TAIF Group reached 878,4 billion rubles, which is by almost 28% more than in 2017. The share of TAIF Group reached 27% in the net financial result of Tatarstan. EBITDA by 2017 added 35 billion and amounted to almost 144 billion rubles.

“The past 2018 year became a test on strength for the entire Russian economy, including for TAIF Group. But that’s the moment when the stability of the chosen business model is checked, it reveals the inner potential of business and reserves of its growth,” Director General of TAIF PSC Albert Shigabutdinov said in the address opening the report.

“In the reporting year, the companies of TAIF Group ensured a steady growth of financial and production indicators in key areas of activity, which is not only another annual confirmation of the correctness of the chosen strategy, the effectiveness of investments, including in the construction and increase of production capacity, but also is evidence of a significant margin of safety, which has formed over the years of development,” Albert Shigabutdinov noted.

More than 168 billion rubles was TAIF's contribution to the development of the country in 2018. We are talking about expenditures on social programmes, environmental protection and industrial safety, investments in the development of the group itself. 61,6 billion rubles of tax payments and duties paid, including 17,4 billion — in the budget of the Republic of Tatarstan.

59,6bn rub — on the construction of new and renovation of existing production facilities

Last year, TAIF continued to implement the projects included in the Strategic Development Programme of the group of companies for the period up to 2030 and are of crucial importance for the economy of Tatarstan and for Russia as a whole. TAIF invested 59,6 billion rubles in the construction of new and improvement of existing production facilities. 93% of these funds were invested in oil refining, petrochemistry, chemistry and energy. In total, from 1995 to 2018, TAIF Group invested more than 734 billion rubles in their own development and expansion of production capabilities.

The group's industrial production index is higher than the Russian average

TAIF Group confidently holds the leadership in the Russian and regional markets of production of oil and gas processing, petrochemistry, chemistry and energy products. The industrial production index of the group's companies in 2018 amounted to 104,1%, which is higher than the national and regional indicators. The group's own results compared to the previous year are as follows:

• TAIF-NK PSC — 106,2%;
• Nizhnekamskneftekhim PJSC — 103,2%;
• Kazanorgsintez JSC — 100%:
• TGC-16 JSC — 108,1%.

TAIF Group’s companies produce 41%, or 1,5 million tonnes, of all Russian plastics, 69%, or 724,9 k tonnes, of rubbers, 40% of all Russian ethylene. The share of TAIF Group in the total shipment of oil products, goods and services of petrochemistry and energy in the Republic of Tatarstan in 2018 amounted to 49%.

TAIF Group assets increase by 100bn rubles over the year

Investments in the development of production and the expansion of the product line, high quality asset management of TAIF Group invariably lead to high economic results. In comparison with 2017, the growth of assets of the group exceeded 100 billion rubles, reaching more than 867 billion rubles (against 767 billion rubles in 2017). The amount of net assets broke last year's record and increased from almost 463 billion to 540 billion rubles.

1,5tn rubles of investments — until 2030

The group of companies consistently and systematically implements the Strategic Development Programme of TAIF Group companies until 2030. It is planned to invest more than 1,5 trillion rubles in promising projects in the field of oil refining, petrochemistry, chemistry and energy.

The priority projects up to 2030 include:

• reaching the design capacity of the Heavy Residue Conversion Complex at TAIF-NK PSC;

• the construction of the Ethylene Complex at Nizhnekamskneftekhim PJSC. The completion of the project with the launch of all four stages will allow the company not only to triple the production of ethylene, but also to triple the volume of polymers produced, to increase the production of rubbers to 1 million tonnes a year, to establish the production of a number of modern products in demand. At the end of May 2018, at the St. Petersburg International Economic Forum in the presence of Tatarstan President Rustam Minnikhanov and Director General of TAIF PSC Albert Shigabutdinov, Nizhnekamskneftekhim PJSC and the consortium of German banks headed by Deutsche Bank AG signed a long-term loan agreement worth 807 million euros to finance the construction of the first stage of the new Ethylene Complex, designed for a total annual production of 1.2 million tonnes of ethylene;

• creation of own generation with total capacity of 895 MW to provide energy to existing and planned production facilities of Nizhnekamskneftekhim PJSC, Kazanorgsintez PJSC and TAIF-NK PSC;
  

• in October, in the framework of bilateral Russian-Italian meetings in the presence of Russian President Vladimir Putin and Italian Prime Minister Giuseppe Conte, TAIF PSC and the Italian company Bio-on S.p.A signed an agreement on the joint implementation of the project for the production of bioplastics. The raw materials for the plant will be related products of the sugar industry of Tatarstan. The cost of the project is 90 million euros. The initial capacity is 10,000 tonnes of products a year with the prospect of doubling the production volumes.

“It is important for us to start a noble path in the field of ‘green’ chemistry. We believe that biodegradable polymers can effectively contribute to the gradual reduction of environmental pollution. In the short term, biopolymers cannot completely replace traditional polymers because of the output volume, but we believe that the introduction of ‘green’, that is, environmentally friendly, production facilities in high-performance market segments can contribute to the creation of new opportunities in the plastics sector,” the director general of TAIF PSC said after the signing.

Already in December 2018, TAIF PSC and the Italian company Investire Italia s.r.l. registered on the territory of SEZ Alabuga (Synergy industrial park) the joint venture 2BIO JSC.

TAIF Group has successfully worked with the Italian and with foreign partners in general in different directions. For example, last April, during a conversation with Pasquale Terracciano, the Ambassador Extraordinary and Plenipotentiary of Italy to Russia, under whose leadership a delegation of Italian businessmen arrived in Tatarstan, Albert Shigabutdinov proposed, in addition to participating in the construction of the biodegradable plastics plant, to consider the possibility of active involvement of Italian business in the construction projects of the group of companies.

The director general of TAIF PSC met with the delegation from Finland headed by Ambassador Extraordinary and Plenipotentiary of Finland in Russia Mikko Hautala during his visit to the republic and the main office of TAIF PSC in October.

“Our companies mainly operate in St. Petersburg, Leningrad Oblast, Moscow, we have not yet fully opened the rest of Russia for our enterprises. However, I am pleased that entrepreneurs from our delegation show great interest in the Republic of Tatarstan,” Mr Hautala said at the end of the meeting.

The successful implementation of the projects will allow key companies of the group: TAIF-NK PSC, Nizhnekamskneftekhim PJSC, Kazanorgsintez PJSC, TGC-16 JSC — not only to significantly strengthen the leading position in its market niches, but also to multiply increase the production volumes, as well as to master the production of new products in demand, including those that have no analogues in Russia. According to experts, by the end of the 2030 programme, the net revenue of TAIF Group is expected to reach 1,5 trillion rubles a year, which is twice more than today's figures.

TAIF-NK JSC: capacity utilization of primary processing of raw materials — 99,36%

In 2018, TAIF-NK PSC processed 8,3 million tonnes of oil and gas raw materials. 8,2 million tonnes of commercial products were produced, 5,6 million tonnes out of which were light oil products: 2,6 million tonnes of diesel fuel, more than 1,7 million tonnes of straight-run gasoline and natural stable gas, 0,6 million tonnes of motor gasoline, 0,4 million tonnes of kerosene and jet fuel, 0,3 million tonnes of liquefied hydrocarbon gases. The company is one of the main manufacturers of motor fuel in Tatarstan.

TAIF-NK JSC includes three main productions: Oil Refinery with a design capacity of 7,3 million tonnes of processed oil a year, Gasoline Plant with the catalytic cracker with a design feed rate of 1 million tonnes a year and the gas condensate processing unit with a design feed rate of 1 million tonnes a year, and Heavy Residue Conversion Complex (HRCC) with a design capacity of heavy residue conversion (tar, vacuum gas oil) up to 3,7 million tonnes.

One of the priority goals of TAIF-NK PSC is to provide the companies of TAIF Group —Nizhnekamskneftekhim PJSC and Kazanorgsintez PJSC — with high-quality raw materials for petrochemical production facilities, as well as to meet the needs of the domestic market in high-quality motor fuel. Some of the products are exported. The products are of high quality and meet all Russian and international environmental quality standards, which is confirmed by the annual victories of the company's products in the competitions Best Goods and Services of the Republic of Tatarstan and 100 Best Goods of Russia.

The majority of Russian refinery complexes operating as part of vertically integrated companies have their own oil production. TAIF-NK PSC has no such advantage. But despite this, as well as that the growth rate of prices for raw materials significantly outstrips the growth of prices for commercial products (compared to 1998, the cost of raw materials increased 63fold, and oil refining products added to the price only 55fold), the company confidently holds the leading position in the republic for the production of motor fuel. TAIF-NK accounts for more than 52% of diesel fuel and over 78% of all gasoline produced in Tatarstan. The production of straight-run gasoline amounted to 1,750,200 tonnes, 97,5% of which was directed to Nizhnekamskneftekhim PJSC for the production of petrochemical products.

The capacity utilization of TAIF-NK PSC for primary processing of oil and gas raw materials in 2018 reached 99,36%. This is significantly higher than the average level of capacity utilization for Russian refineries, which amounted to only 89%. Despite the deterioration in the quality of processed oil, TAIF-NK PSC stabilized the light oil offtake. Last year, this indicator was almost 69%, with an average result for Russia — a little more than 62%.

It should be noted that the conversion rate and quality of processing of TAIF-NK PSC of hydrocarbon raw materials constantly grow. If in 1995 the share of high-quality light oil products in the total structure of commodity products was only 16%, and of dark and low-quality light oil products — 84%, then in 2018 the high-quality light oil products amounted to almost 69%, and the remaining 31% — dark. By 2020, reaching the design capacity of the Heavy Residue Conversion Complex, 98,5% of all commercial products will be high-quality light oil products, and only 1,5% — dark (1% of which — high-quality bitumen).

The company's strict budget policy and relatively stable macroeconomic situation allowed TAIF-NK PSC to make all investments planned for 2018 — 4,7 billion rubles. The company's assets amounted to almost 170 billion rubles. Revenues from sales in the reporting year amounted to 275,7 billion rubles, against 195,3 billion rubles in 2017. The budgets of all levels paid — 31,7 billion rubles of taxes (22,6 billion in 2017).

HRCC — construction and installation works completed in full

Last year, TAIF-NK PSC completed all construction and installation works at the HRCC. The main and auxiliary production facilities have been gradually introduced in the mode of integrated testing. This year, it is planned to complete the commissioning works and the complex will move to the processing of project raw materials — tar and vacuum gas oil.

The planned increase in the production of diesel fuel volume (from 1,7 to 3,2 million tonnes a year) is going to optimize the logistics costs of its transportation through the main pipeline. To do this, TAIF-NK PSC has implemented the project on the construction of booster pipeline of diesel fuel from the refinery to MPS Nizhnekamsk-2 of Transneft PJSC. The actual operation of the pipeline starts with the launch of the HRCC.

To ensure the reliable supply of the production facilities of TAIF-NK PSC with electricity, the decision on the construction of a combined cycle gas turbine (CCGT-150) at a reasonable price with a capacity of electricity generation 150 MW/h has been made.

The implementation of these investment projects, based on the latest world technologies, will provide TAIF-NK PSC with a significant increase in the production of high-quality products in demand. This will be a significant contribution to the development of the oil and refining industry not only of the Republic of Tatarstan but also of the Russian Federation as a whole.

Revenue of Nizhnekamskneftekhim PJSC and Kazanorgsintez PJSC over the year increased by 33,4bn rubles

Petrochemistry is one of the main directions of economic development policy of the Republic of Tatarstan. The industry is given the closest attention at the federal level. In TAIF Group, this sector is represented by enterprises of Nizhnekamskneftekhim PJSC, Kazanorgsintez PJSC and its subsidiaries.

In 1995, the petrochemical companies of TAIF Group produced 211 product names. By 2018, 110 of them became outdated and were removed from production, and the remaining and technologically advanced 101 items were added with 477 names, developed by the enterprise over this time. Today, the companies of TAIF Group in the field of chemistry and petrochemistry produce 578 names of high-quality petrochemical products.

TAIF Group actively invests in the development of new types of products in demand, increasing the existing capacities, improving the stability of their load and quality of products. Due to this, the petrochemical companies of the group are constantly strengthening their positions in highly competitive global and domestic markets, annually increasing production and ensuring positive dynamics of the financial results of TAIF Group as a whole.

Since 1995, the amount of ethylene production at the facilities of Kazanorgsintez PJSC and Nizhnekamskneftekhim PJSC was increased 2,2 times (from 550,000 tonnes to 1,197,000 tonnes). This is 40% of all Russian production. Over the same period, the volume of polymers produced by TAIF Group increased by 5,1 times — from 443,000 tonnes to 2,251,000 tonnes.

The development strategy of TAIF Group, aimed at expanding the existing production capacities and creating new high-tech production facilities, ensuring the quality of products that meet the most stringent international standards, and expanding sales markets allowed TAIF Group to increase revenues in the field of chemistry and petrochemistry. In comparison with 2005, it increased 4,2 times — to more than 282 billion rubles. The net revenue of Nizhnekamskneftekhim PJSC and its subsidiaries amounted to more than 203 billion rubles in 2018, EBITDA — almost 37 billion rubles, respectively, Kazanorgsintez PJSC — more than 79 billion rubles and more than 28 billion rubles.

The products are in great demand and are exported to 59 countries of the world — to all continents of the globe. Most of the products — 69% of the total — are sold in Russia.

TAIF Group successfully continues to work on the implementation of the project of Nizhnekamskneftekhim PJSC on the construction of the new Ethylene Complex. It is the basis of the company's development strategy until 2025. The new complex will be powered by a combined-cycle power plant with a capacity of 495 MW. In October, on the sidelines of the forum Russian Energy Week 2018, Nizhnekamskneftekhim PJSC and the consortium of banks organized by the largest international financial institution Deutsche Bank AG signed a long-term credit agreement under the insurance policy's coverage Euler Hermes in the amount of 240 million euros. The funds are intended to finance the contract with Siemens for the construction of a new combined cycle power plant.

At the same forum, in the presence of Tatarstan President Rustam Minnikhanov and President of Siemens AG Joe Kaeser, Siemens and TAIF leaders signed a cooperation agreement.

Last year was rich in anniversaries and the opening of new production facilities. In March, Kazanorgsintez PJSC launched its own production of three-layer tubular FFS-film, in June Nizhnekamskneftekhim PJSC at the isoprene-monomer plant put into operation the production of isobutylene.

In November, Kazanorgsintez PJSC celebrated its 60th anniversary from the date of foundation and 55th anniversary from the date of release of the first products. By these anniversaries, four new pyrolysis ovens at the Ethylene Plant, at the E-200 complex, were officially put into commercial operation, which replaced ten old obsolete ovens that had worked for almost 40 years.

At the end of December, Kazanorgsintez PJSC launched a new plant for the production of carbon black concentrate. This is only a small part of the colossal work that TAIF Group companies carried out in 2018.

Energy generation at TGC-16 JSC totalled 9,4bn KWh

Power engineering is an important component of the manufacturing processes of TAIF Group of Companies. TGC-16 includes the Nizhnekamsk CHPP (Industrial Boiler House-1) and Kazan CHPP-3. Since the inclusion of capacities to the Group, the generating capacities have been seriously upgraded, which increased the quality of their performance and thermal and electrical energy generation volumes.

Energy generation at TGC-16 JSC rose by 78% compared to 2010 and totalled 9,4bn KWh in 2018. The launch of a 405,6 MW gas turbine unit in 2017 conditioned the rise in combined cycle energy generation.

The biggest power plant of Kazan, the CHPP-3, solemnly celebrated a jubilee in June 2018 — the 50^th anniversary of launch. And US Ambassador to Russia John Huntsman visited the Kazan CHPP-3 in February. Being in the capital of Tatarstan on a business trip for the first time, Mr Huntsman together with his spouse Mary Kaye Huntsman made time to acquaint with the thermal power plant under TGC-16. The guest was demonstrated a new unit of the plant equipped with a gas turbine based on one of the most powerful and efficient turbines in the world — 9НА.01 by General Electric (USA).

To make sure a commercial enterprise is successful, one has to prove its success. Here [at the Kazan CHPP-3] he saw a good example of the application of successful experience in Tatarstan on the basis of technologies and equipment made by GE. The joint project of General Electric with TAIF is an example of successful cooperation, John Huntsman noted then.

Thermal energy generation at TGC-16 JSC in 2018 was 21,3 million Gcal. The biggest amount of electrical energy was generated in the branch Nizhnekamsk CHPP (IBH-1), it also produced the biggest volume of heat. The Nizhnekamsk CHPP (IBH-1) is the biggest thermal power plant in Tatarstan and the main source of thermal energy for petrochemical factories and oil refineries of the Nizhnekamsk industrial hub and the city of Nizhnekamsk.

51,4bn rubles of investments in social projects

Social responsibility is one of the basic business principles of TAIF Group companies. In 2018, 51,4bn rubles were allocated for republican social projects such as children, education, culture, health care and sport by the Group’s companies.

The updated square and hillside next to Kazan National Cultural Centre in Kazan opened on 10 October. The territory was improved because of numerous petitions of citizens of the republic’s capital and according to the decision of Tatarstan officials and within TAIF JSC’s charitable work. President of the Republic of Tatarstan R. Minnikhanov, Kazan Mayor I. Metshin, TAIF JSC Director General A. Shigabutdinov as well as representatives of ministries and agencies took part in the opening ceremony.

“It was very important for us to create not only a beautiful landscape but, first of all, a comfortable and cosy environment, so that people would come here with pleasure, enjoy walks, admire the enchanting panorama of our city,” Albert Shigabutdinov noted then.

Health centres, recreation facilities, children’s camps, swimming pools, ice palaces are maintained at the expense of TAIF Group’s profit. In 2018, 1,3bn rubles were sent to main social and cultural venues. 17,6bn rubles were given in 2018 to different social, charity and social projects implemented in the republic.

TAIF Group of Companies purchase tours to health centres, recreation centres, holiday homes, children’s camps for their workers. TAIF Group of Companies also supports employees’ love for a healthy lifestyle and sport, active involvement in mass sports events. In the end, this has a positive impact on the success of production tasks.

The social policy of TAIF Group of Companies is designed to improve the quality of life of workers and their families. TAIF Group workers’ amount of salary reached 51,300 rubles a month, which is by 46% higher than average indicators in the republic and by 18% in Russia.

Careful attitude to the environment and green production have always been and are one of the rules of the current and promising business of TAIF Group of Companies.

When building the Heavy Residues Deep Conversion Complex, TAIF-NK JSC used the latest resource-saving technologies, took measures allowing reducing the negative environmental impact to the level that’s much lower than existing norms. Nizhnekamskneftekhim PJSC is working on the second stage of reconstruction of biological treatment facilities. Their launch is scheduled for 2019. Stilt was removed from the buffer pond in the Tungucha River. 23,200 tonnes of dried sediment was placed to the sludge tank in 2018.

Having increased the capacity of the turbine generating electrical and thermal energy at the Kazan CHPP-3 that's characterised of minimal specific emissions in 2018, TGC-16 JSC reduced emissions of harmful substances into the atmosphere by 12% compared to 2017. While the indicator of the environmental impact of TGC-16 JSC was already much lower than current norms as early as 2017.

Kazanorgsintez PJSC participates in the regional project Conservation and Prevention of Contamination of the Volga River in the Republic of Tatarstan. The company created a promising plan of measures: Improvement of the Ecological State of the Volga River Including Reduction in Inflow of Contaminated Wastewater into the Volga Basin on the Territory of the Republic of Tatarstan in 2018-2025. The project includes three measures with a total value of over a billion rubles.

At the official urban and state awards ceremony on 30 August 2018, Kazanorgsintez PJSC was marked for its active participation in the recovery of the system of the Swan Lakes (Dry Swan Lake, Big Swan Lake, Light Swan Lake, Emerald), the reconstruction of the Pine Grove and a number of annual non-refundable charity events.

Joint investments of TAIF Group in environmental protection and rational use of natural resources in 2018 totalled 7 billion rubles. Costs on industrial safety amounted to 5 billion rubles, 1,7bn rubles were spent on occupational health.

TAIF Group of Companies pays a lot of attention to create a physically and mentally healthy staff. Mass sport and a healthy lifestyle are popularised at TAIF Group of Companies in several key areas. Firstly, the TAIF Group companies constantly assist in the maintenance of the infrastructure of tens of different sports facilities at a due level: stadiums, gyms, amateur sports club. Thanks to this, people can do any sport in comfortable conditions. Secondly, TAIF Group companies’ workers’ interest in a healthy lifestyle and sport is supported in all possible ways. Contests and competitions are held annually in the enterprise and in the sector whose winners and medallists are awarded valuable prizes. The efficiency of the business done by TAIF Group of Companies is proved by the fact that more and more workers and their families participate in urban, republican, all-Russian and international competitions and win them.

TAIF Group also pays attention to professional sport together with mass sport and popularisation of a healthy lifestyle. Rubin and Neftekhimik FC, Neftekhimik and Dinamo HC, Sintez WC, TAIFmotorsport and MH-Avtosport racing teams have been actively supported by TAIF Group of Companies for many years.

In May 2018, Sintez team (Kazan) got the next great award by winning the Supercup of Russia in water polo named the Admiral Fyodor Ushakov Cup.

“Undoubtedly, this result is a conclusion of the determined work of the whole team, it is the players, the coaching staff and the administration of Sintez club and the water polo federation. I will especially point out the role, meaning and contribution of the team’s sponsors to the victory — it is TAIF Group of Companies and Kazanorgsintez. They were aimed at this victory together with you,” President of Tatarstan Rustam Minnikhanov stressed when honouring the team in the Kazan Kremlin.

It became known in the early autumn 2018 that the first water sports club in Russia appeared in the republic. It was created on the basis of the country’s strongest Sintez water polo team and included such disciplines as swimming and diving. One of the famous athletes of the world, deputy of the Russian State Duma Irek Zinnurov chaired the club.

Over 6,5bn rubles were sent by TAIF Group companies in 2018 to support mass and professional sport and popularise a healthy lifestyle in general.

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  John Huntsman Ambassador of the United States of America to the Russian Federation

  During a visit to Tatarstan, February 2018:

  “The partnership between General Electric and TAIF is an example of the driver of economic development and prosperity both in Kazan and the USA. We all win working together.”
  

• 

  Pasquale Terracciano Ambassador Extraordinary and Plenipotentiary of Italy to Russia

  During a visit to TAIF JSC head office, April 2018:

  “Italian companies should choose right your republic to develop the concept Made with Italy. We want to create joint Russian-Italian companies. With Tatarstan President Rustam Minnikhanov we discussed a project of biodegradable plastic manufacturing factory.”

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  Ashok Aram Executive Director of Deutsche Bank in Europe, the Middle East and Africa

  At SPIEF 2018, after signing an agreement between Nizhnekamskneftekhim PJSC and a consortium of Germans banks to finance the new ethylene complex of TAIF Group:

  “We always look for the best projects to finance. This, of course, is the latest project. We are happy to be part of it.”

• 

  Christian Bruch Executive Vice President, Linde plc, Dublin and Guildford & CEO, Linde Engineering

  During a visit to the Republic of Tatarstan and TAIF Group, July 2018:

  “I'm deeply impressed because I've seen a lot of chemical sites, but it's a very impressive site in terms of the extension but also in terms of how all plants are operated and maintained.”

  On the ethylene complex construction project:

  “We are in close contact with TAIF and develop new projects. It's very clear Russia and Tatarstan, in particular, are a core market for us.”

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  Willie Meixner Power and Gas Division CEO, Siemens AG

  During a visit to the Republic of Tatarstan and TAIF Group, July 2018:
  
  “The construction of the combined cycle power plant on the territory of Nizhnekamskneftekhim with a capacity of 495 MW is our first joint project in the field of energy generation. I am sure that the project will become one of the most significant in the history of cooperation between TAIF and Siemens. We closely follow the development of petrochemical and fuel and energy complexes of Tatarstan and hope that we will take part in other projects implemented in the region.”

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  Bakhytzhan Khabibullayev Deputy Chairman of the Council of Ministers of the Republic of Karakalpakstan

  During meeting in TAIF JSC head office, September 2018:

  “TAIF is a famous company that has credibility.”
  

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  Aleksandr Liberov Siemens President in Russia

  After signing agreement on cooperation with TAIF JSC at Russian Energy Week 2018, Moscow:

  “The agreement is to expand cooperation in the petrochemical complex, it is an improvement of technological efficiency. Energy efficient projects are digital control systems, that’s to say, digitalisation and different systems. This is why the agreement must be the foundation for bigger cooperation with TAIF. We have a number of new projects we will discuss.”

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  Daniel Schmand Global Head of Trade Finance and Regional Head GTB EMEA at Deutsche Bank AG

  At Russian Energy Week 2018, Moscow, after signing an agreement between Nizhnekamskneftekhim PJSC and Deutsche Bank AG on loan for 495 MW power plant construction at NKNK:

  “We appreciate the reliability of TAIF and Nizhnekamskneftekhim and the professionalism of their management.”
  
  

• 

  Joe Kaeser Siemens AG Board Chairman

  At Russian Energy Week 2018, Moscow, after signing cooperation agreement between Siemens AG and TAIF JSC:

  “Siemens and TAIF Group have had a very long-term partnership, and we are very thankful for the opportunity to expand this partnership. We’ve signed an agreement and discussed with Mr Shigabutdinov an intention to increase the efficiency of TAIF energy units, so TAIF enterprises will be well prepared for the future.”

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  Eiji Hosoi Senior Executive Officer at Toyo Engineering Corporation

  During a visit to TAIF JSC head office, October 2018:

  There are many projects we consider successful. For instance, the cooperation with NKNK in an ethylene project, which was implemented quite a long time ago in the Soviet Union. We also worked with TAIF in the construction of the fourth stage of the polystyrene factory at Nizhnekamskneftekhim. In Tatarstan, we also cooperate in several projects with Kazanorgsintez PJSC.”

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  Marco Astorri President and CEO at Bio-on

  In Moscow, after signing an agreement between TAIF JSC and Bio-on S.p.A. (Italy) on joint bioplastic project (in the presence of President of the Russian Federation Vladimir Putin and Prime Minister of Italy Giuseppe Conte):

  “The signing of the first contract with the prestigious industrial group (Editor’s Note: TAIF GC), which is the leader in the plastics industry, confirms the great value of our technology and further strengthens the position of bioplastics in the market.”
  

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  Mikko Hautala Ambassador Extraordinary and Plenipotentiary of Finland to Russia

  During a visit to TAIF JSC head office, October 2018:

  “We will work with TAIF, I hope we get as many real contracts and agreements as possible.”