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SubscribeOn December 13, 2018, PJSC Nizhnekamskneftekhim successfully closed the order book for the first release of its exchange bonds, series 001Р-01, in the amount of 15 billion rubles, the placement of bonds are planned on the Moscow Stock Exchange on December 20, 2018.
The initial spread of a coupon rate was 9.60-9.80% per annum. The order book was closed with an oversubscription at the level of 9.75% per annum.
The circulation period of the exchange bonds issue is 10 years from the date of its publication, the offer is provided in 7 years. The coupon period of the exchange bonds issue with maturity at the end of the circulation period is 6 months. Par value is 1,000 rubles.
The issue will be arranged as part of the open-ended Program of exchange bonds of PJSC Nizhnekamskneftekhim, registered on the Moscow Stock Exchange on November 20, 2018 under the identification No. 4-00096-A-001P-02E. A nominal value of the Program is up to 40 billion rubles or an equivalent of this sum in a foreign currency.
Dealmakers are AO RaiffesenBank and AlfaBank. The co-organizer of the issue is Avers Bank.On the eve of the New Year 18 employees of Nizhnekamskneftekhim became the owners of apartments in a new residential building No. 35 on ul. Pobedy, 30. There are 80 apartments, which consist of one and two-rooms. 16 employees got their apartments under the social mortgage program, and another two - under the additional housing construction program. The presentation of keys and settlement of the house took place on December 12.
This house is already the eighth one, which was commissioned in the new residential area No. 49. The first three houses were already settled on the eve of 2017, and 5 more new residential buildings were commissioned in 2018. 414 families of petrochemists got their apartments in this new residential area.
Providing employees with comfortable housing is the most important social task, and the Company Management pays great attention to it. A lot of work is also being done on the organization of infrastructure in 47th and 49th residential estates. Roads are being built in the districts; the system of convenient parking lots and access roads is being formed. The courts of the new apartment houses are equipped with comfortable brightly colored children’s playgrounds. On September 1, 2018, a new school and the kindergarten opened their doors to young residents of this residential district. It is planned to build one more kindergarten in the 49th district.
Since 2005, altogether 1,300 apartments have been distributed among the Company’s employees under the social mortgage program, and 1,400 apartments have been distributed from 2015 until 2017 under the additional housing construction program. These programs have been implemented by Nizhnekamskneftekhim jointly with the State Housing Fund under the President of the Republic of Tatarstan.
Construction of a new ethylene complex, support of young specialists and employment became the main themes at the meeting of representatives of Nizhnekamskneftekhim with students of specialized secondary and higher education establishments of the town. The event took place at Nizhnekamsk Institute of Chemical Technology on December 5 and 400 students participated there.
Ilfat Sharifullin, First Deputy General Director – Chief Engineer, told the students about the history and development plan of the Company, new technologies to be introduced, great opportunities for professional growth and self-fulfillment of young citizens of Nizhnekamsk. A film was shown about social benefits and programs, which are available for the employees of the Company. Particular emphasis was given to the construction of the new ethylene complex. Roman Vasiliev, Chief Engineer of Grassroots Ethylene 600, told the students in detail about its implementation and importance. The complex will be on the territory of the Company and it is intended for 600 new jobs. The largest investment project in Nizhnekamsk will enhance not only the development of the Company and town but also the whole industry of Tatarstan. This production complex will be characterized by the state-of-the-art technologies and minimized environmental impact.
Nizhnekamskneftekhim offers the jobs to graduates from colleges and institutes of higher education at the new modern complex. The representatives of Nizhnekamskneftekhim answered questions about job placement and opportunities for professional growth, which were posed by the students. Upon the completion of the event, the participants of the meeting filled up the feedback forms.Two subdivisions of Technical Control Division of Nizhnekamskneftekhim became the winners of the annual competition “Best Products and Services of Tatarstan”. Technical Control Department (TCD) of the plants for production of hydrocarbons and their compounds and synthetic polyester resins, and the sanitary-industrial laboratory were recognized as the best in the “Test Laboratory” nomination.
The main assessment criteria of the laboratory activities are a high quality performance of necessary tests and handing over of consistent results by engineers and laboratory technicians in accordance with regulatory documents and the measurement procedures designed and suitable for satisfaction of consumer requirements. The aim of TCD is to control raw material quality, production processes and finished-product output. In 2017, TCD No.3605 was successfully accredited for conformance to the requirements of International Standard ISO/IEC 17025:2005 at the accreditation body of laboratories – Association of Analytical Centers) “Analitica” and confirmed its technical competence in 2018.
Sanitary-industrial laboratory monitors the ecological state of air, water and soil. It controls the state of environment not only in the territory of Nizhnekamskneftekhim but also in all localities adjacent to the town. The certificate of accreditation in the National Accreditation System (RusAccreditation) guarantees high quality of research. In addition, the laboratory was successfully accredited in the Unified National System in 2014, and in 2015 and 2017, it confirmed its competence against 94 accreditation criteria.From 26th until 30th of November experts from a Russian-German Project “Climatic neutral business activity: implementation of the best available technologies in the Russian Federation” visited Nizhnekamskneftekhim. The aim of their visit was to inspect the Company facilities for conformity with the requirements of modern best available technologies. This is associated with changes in legislation, which will come into effect in 2019.
The expert committee visited two facilities – Biological Treatment Facility (BTF) and styrene and propylene oxide production unit at Styrene and Polyether Resin Plant.
The specialists from the international company were shown all stages of sewage purification at Biological Treatment Facility, and an extensive reconstruction of BTF was brought to their attention. When it is completed, the efficiency of sewage treatment will increase significantly, and in turn, improve the state of atmospheric air. The experts indicated that they performed audits on many treatment plants in Russia, and not all inspected facilities invest such significant amounts into the modernization.
The experts visited the next facility that is a local biological treatment unit at Styrene and Polyether Resin Plant, where styrene and propylene oxide are produced. The specialists were interested in documents of production technology, energy consumption, sources of emission and dumping.
- It is necessary for us to get an objective assessment for conformity with new legal requirements. For the moment, Nizhnekamskneftekhim complies with the best available technologies practically in all directions, at any rate, this is true for two production facilities inspected by the experts. For us it is a positive experience approach for estimation, we can apply this approach to our other divisions, - noted Andrei Rubezhov, Deputy Chief Engineer for Environment Protection of PJSC Nizhnekamskneftekhim.
In January 2019, the experts from the international company will present a final report with recommendations for the improvement and enhancement of ecological and production efficiency at the facilities of Nizhnekamskneftekhim based on the additional study of the Company’s documentation.
The project “Climatic neutral business activity: implementation of the best available technologies in the RF” is being implemented on request of the German Federal Ministry for Environment, Nuclear Safety and Preservation of Nature (BMU) in close collaboration with the official Russian partner – the Ministry of Natural Resources and the Environment of the Russian Federation. The main project aim is to contribute a comprehensive support to key Russian partners in the transfer to a new government environmental regulation based on new available technologies. The project is a part of the German initiative program on climate-smart technologies (DKTI) and International Initiative to Protect Climate (IKI). A project realization operator in Russia is German Agency for International Cooperation (GIZ) GmbH, which works to promote a sound progress and educational activities all over the world. A permanent Moscow Establishment of GIZ has been working in the Russian Federation since 1996.The Financial Division of the Company was the first one where specialists of the IT Division of Nizhnekamskneftekhim applied the latest developments in the field of information technologies - artificial intelligence based on the neural network. This a special program, which allows to find out regularities and connections in preliminary not evident aspects based on large amounts of cumulative data, and to use this information for a further forecast, classification, data and process management.
In the Financial Division of the Company artificial intelligence helps independently define and enter an activity code for bank statement lines, and therefore it releases specialists from a daily necessity to enter these data manually and this way it reduces the scope of routine work.
Before the program was put into service, specialists of the IT Division tested it during a month and carried out trainings on historical data.
By the way, capabilities of artificial intelligence allow finding use for it also in other fields of robotization that is in risk forecasts and assessments, the defining of trends, correlations and tendencies, recognition of photo, video, audio contents, setting up chat bots for a man to dialogue with computer systems. The application of artificial intelligence technologies and computerized learning is a necessary step of Nizhnekamskneftekhim towards digitalization.Professional skill competitions is one of the very first traditions established at the Company more than half a century ago. Every year more than 30 competitions are held in various professions among young specialists of the Company. The level of professional skill is demonstrated by the instrumentation technicians, drivers, turners, lab technicians, unit operators, shift leaders, etc.
On November 23, 12 young specialists of the Company and three students of Lemaev petrochemical and oil refining College competed for the title of “The best young operator” where the competition of professional skills was held. It should be noted that the profession of the operator is the most common one at Nizhnekamskneftekhim. The Company employs over three thousand unit operators.
Operators of IV - V categories at the age up to 30 years have been invited to compete. The level of knowledge of the contestants was determined by the results of theoretical and practical tasks - they passed computer tests, including the knowledge of the rules of occupational safety and industrial safety, set-up the process diagrams, performed the start-up and shutdown of the pilot plant, and also demonstrated their first aid skills.
According to the contest results, Ilnur Sultanov, operator of production shop No. 6711 of the Oligomers and Glycols Plant won the title of the best. He not only coped with the tasks faster than the others, but also scored the highest. Tikhon Petrov came in second, he is the operator of production shop No. 1307 at the Butyl Rubber Plant, and Aidar Mindubayev, operator of production shop No. 1506 of the Synthetic Rubber Plant, was the third. The winners of the contest were awarded the diplomas and valuable prizes. The victory in the competition is not only an opportunity to get the prize or get into the personnel reserve but also a chance for upgrading. This is the way of increasing the prestige of the blue-collar occupation.
By the end of the year, the professional skill contests of laboratory technicians, young instrumentation technicians and electricians will be held at the Company.
Regular Meeting of Nizhnekamskneftekhim Board of Directors was held in Kazan on November 28, 2018 under the guidance of Ruslan Shigabutdinov, Chairman of the Company’s Board of Directors.
Members of Board of Directors discussed and acknowledged the results of financial and operating performance, fulfillment of the capital investment and finance plan of Nizhnekamskneftekhim and Nizhnekamskneftekhim Group for 9 months of 2018.
During this period, the Company’s plan for production of marketable products was exceeded by 12.3%. The increase in comparable prices compared to the same period of 2017 amounted to 3.9%. Production value of marketable products for 9 months of 2018 amounted to 137.9 billion rubles which is 15.1 billion higher than the planned figures and 18.3 billion rubles higher than last year. The receipts from sales of products and services of Nizhnekamskneftekhim for the reporting period amounted to 138.4 billion rubles which is higher than the revenue of the previous year by 17.2 billion rubles.
The Board of Directors took notice of information on actual tax and duties payment performed by Nizhnekamskneftekhim to the consolidated budget of the Republic of Tatarstan at the end of 9 months of 2018 and approved the anticipated payments of Nizhnekamskneftekhim to the consolidated budget of the Republic of Tatarstan for 2019.
The Board members reviewed and approved operating and financial targets, as well as the investment program and financing of investment of Nizhnekamskneftekhim and Nizhnekamskneftekhim Group for 2019.
Members of the Board acknowledged the information related to the analysis of efficiency of rubber and plastics sales including those to the processors based on the direct contracts or via the electronic trading facility Onlinecontract for 9 months of 2018.
The Board of Directors also took note of the analysis of the efficiency and transparency of procurement procedures for purchasing the auxiliary materials, and specifically via the electronic trading facility Onlinecontract.
The Board members acknowledged the information about the activities of Internal Audit Division of Nizhnekamskneftekhim for 9 months of 2018.
The Board took note of the information on the status of raising funds for implementation of projects for construction of Grassroots EP-600 ethylene complex and derivatives and construction of CCGT-PP at Nizhnekamskneftekhim.
Members of the Board reviewed and approved the Regulation for preparation and conducting of the Board meetings, and also the risk management and internal control Policy of Nizhnekamskneftekhim.
Nizhnekamskneftekhim became an undisputed leader across multiple nominations - Music Genre, Choreography, Brush with fame and Business Card. In addition, the petrochemists team was awarded the first place in the overall standing. The participation of the Company's specialists in Beznen Zaman - Our Time TV Festival became rich with awards. The finale of this grandiose cultural event was held in entertainment complex of Kazan “Pyramid” on November 16.
The Chairman of the State Council of Tatarstan Republic Farid Mukhametshin addressed the festival participants with a welcoming speech. He noted the importance of holding such events and the participation of working youth in them.
The festival “Beznen Zaman - Our Time” was founded in 2013 with the support of the President of Tatarstan Republic Rustam Minnikhanov for the development of the creatively talented youth. For six years, the competition has gained great popularity. The numbers speak volumes about this. This year alone, more than 170 organizations and enterprises of Tatarstan have submitted applications for participation. Over 800 people competed in the regional qualifying rounds. According to their results, only the best participants reached the final, including PJSC Nizhnekamskneftekhim team.
Petrochemists participate in this competition for the sixth year in a row. Developing creativity among employees is a good tradition in Nizhnekamskneftekhim, the youth of the Company actively participates in amateur performances. The administration and the trade union committee of the Company pay special attention to the social life of the personnel, and work with young people. This time, a team of 20 people including operators, mechanics, electricians, designers and representatives of many other working professions showed their creativity in Kazan.
A group of fans led by Deputy General Director for HR and Social Management of Nizhnekamskneftekhim Rodion Bulashov and the Chairman of the Trade Union Committee of the Company Fanis Murtazin supported the participants at the festival in Kazan.
The Ambassador at large of the President of Tatarstan Republic, Executive Secretary of the Commission of the Russian Federation for UNESCO Gregory Ordzhonikidze congratulated the participants. He noted that the festival of young workers “Beznen Zaman - Our Time” needs to be expanded and held in other regions of Russia too.The laboratory assistant of shop No. 1121 of R&D Center, Aizira Farhetdinova became the only Nizhnekamskneftekhim representative who took part in one of the stages of WorldSkills Regional Professional Skills Championship “Young Professionals 2019”. It was held at the premises of Nikolai Lemaev College of Petrochemistry and Refining from 12 to 16 November.
At this stage, 18 young professionals from all over the Republic competed. They demonstrated their knowledge and skills in two categories: “Laboratory chemical analysis” and “Manufacture of products from polymeric materials”. An employee of Nizhnekamskneftekhim, Aizira Farkhetdinova, defended the interests of the Company in the nomination “Laboratory chemical analysis” and ranked second in the competition.
The Company participates actively in the WorldSkills International Championship that aims to maintain the prestige of blue-collar jobs. Nizhnekamskneftekhim provides substantial assistance in preparing for this competition. Thus, the Company allocated funds for the purchase of special equipment, such as injection-molding machines, measuring instruments and computers, as well as peripheral devices for the competition “Manufacturing of products from polymeric materials”. This equipment will be further used in the process of training and raising the level of skill of future Nizhnekamskneftekhim specialists.
- Nikolai Lemaev devoted more than 20 years of life to our Company. Construction and commissioning of the basic production plants occurred under his command. His life showed us the example to live and work, - said Ilfat Sharifullin, the First Deputy General Director, Chief Engineer of PJSC Nizhnekamskneftekhim.
- I have personally known Nikolai Vasilyevich. In 1964 he offered me the position of his deputy for Nizhnekamsk construction. He had been a wonderful, understanding person. On many occasions we have been walking around Nizhnekamsk residential quarters as he was interested in everything and he wanted to know everything, to see for himself how things were going. There was a time when there were just agricultural fields on the site of the future city, there was not a single building, the task was to create a large petrochemical production complex. Lemaev also took personal charge of the construction of the city. 31 schools, 69 kindergartens and the rest of the social infrastructure of Nizhnekamsk were built — everything was taken over by the chemical plant, - said Rafail Glyants, adviser to the department for the construction of industrial infrastructure of the Construction Department of PJSC Nizhnekamskneftekhim.
Nikolai Lemaev invested not only his knowledge and great efforts in the construction of the production complex and the city, but also a part of his generous soul. Lemaev worked from 1963 to 1985 as the director and later as the general director of the petrochemical plant and Nizhnekamskneftekhim production association. Nizhnekamskneftekhim production association has become one of the country's largest producers of synthetic rubber and monomers under his leadership. Nikolai Vasilyevich Lemaev is the Hero of Socialist Labor, awarded the Order of Merit for the Fatherland, 4th degree, two Orders of Lenin, the Order of the October Revolution, the Order of the Red Banner of Labor.
This day together with PJSC Nizhnekamskneftekhim management the future generation of petrochemists, students of the College of Petrochemistry and Refining, laid flowers at Lemaev’s monument and organized a rally on his labor feat for the benefit of Nizhnekamsk.
The Legal Department of PJSC Nizhnekamskneftekhim is included in GC Powerlist Legal 500: Russia 2018 (the list of the best lawyers and legal advisers in Russia) published on November 8, 2018. It emphasizes the professionalism and tremendous contribution of the head of the legal department Aydar Sultanov to the development of the Russian legal community.
The top list of the best lawyers and legal advisers in Russia has been compiled by the leading international publication The Legal 500 that conducts annually the legal market study in more than 100 countries around the world since 1987. Estimates and recommendations of the directory are based on independent research and questioning of law firms, as well as a survey of their clients and competing firms’ representatives. Comprehensive research is carried out for several months.
The legal service of Nizhnekamskneftekhim on several occasions became the winner in the contest “The Best Legal Departments of Russia”.
Training is conducted in three stages. The first one, remote, took place at the end of August, included a self-directed learning, viewing webinars and execution of control tests. The second stage covers the theoretical training (classroom lessons) at the Company's training center from 12 to 16 November.
The training will be completed at the end of November with an internship at the leading Kazan universities, such as FSBEI HE "KNRTU" (Industrial Biotechnology Department), FSBSI "Tatar Research Institute of Agrochemistry and Soil Science" (Agroecology and Microbiology Laboratory). Also specialists from Dmitry Mendeleev University of Chemical Technology of Russia (Faculty of Membrane Technologies and Biotechnology), Moscow will be invited.
Aquatic bioresources replenishment is only one of the directions of the Company’s environmental policy, which Nizhnekamskneftekhim regularly conducts in order to compensate for the damage caused to water resources as a result of water withdrawal.
The water area for the release of fingerling is determined by the territorial department of the Middle Volga Territorial Administration of the Russian Federal Agency for Fishery. The reservoir is carefully studied before settling: it must be shallow, rich in food resources, and there should be no predators and anthropogenic impact.
In order to improve the wastewater treatment quality, the Company completed the first stage of BTF reconstruction works in 2016, in particular the mechanical cleaning unit of industrial and domestic effluents. The cost of revamping amounted to 522 million rubles. Mass media personnel saw at the first hand the mechanical cleaning process and got to know the results of the first stage of BTF reconstruction works.
In 2018, modernization entered a second phase on BTF, within the framework of which the reconstruction of the pig receiver and mechanical cleaning of industrial effluents is underway. Chemically polluted effluents come here from the industrial plants. Journalists assessed the scope of work at the construction site, where new buildings and structures are being built. To date, construction of the flotation sludge pumping station has been completed, and one of the four preparation tanks, three sand traps and the first tier of the pool for polymer flakes. Underground utilities of the first and second chemically contaminated runoff headers have also been laid.
Moreover, at the moment, the BTF experts have completed pilot testing to prevent the polluted gases ingress with an odor nuisance into the atmosphere. A special closed package unit will catch volatile hydrocarbons and clean the sewage. The selected technology is one of the best in Europe and the first in Russia. The cleaning efficiency of gas emissions is up to 95%.
As a result, after the completion of the second stage, the concentration of hydrocarbons in chemical flow will decrease and the efficiency of biological treatment will increase, improving the state of atmospheric air. In addition, BTF will be able to clean the chemically contaminated drains from polymer flakes and petroleum products that will improve the quality of treated wastewater discharged into the reservoir.
Modernization of the second stage will cost about 1 billion rubles for the Company. All reconstruction costs of biological wastewater treatment plants, including the additional chemically contaminated runoff headers construction, will amount to more than 3 billion rubles. Revamping of the second stage is expected to be completed in the near future.
BTF reconstruction is the most important water-control practice of the fourth environmental program of PJSC Nizhnekamskneftekhim for 2014-2020. Its main goal is reliable environmental protection and compliance with environmental legislation requirements.
During the press tour, the media representatives were also informed about environmental monitoring arrangement that is carried out by departmental accredited and licensed laboratories of the technical control department: sanitary-industrial and BTF laboratory.
The automated system for monitoring the atmospheric air has bee in operation in Nizhnekamskneftekhim since 2008. Five fixed stations for atmosphere monitoring have been installed around the perimeter of the industrial zone and on BTF territory, with the help of which the content of light hydrocarbons, methane, nitrogen oxides, and suspended substances is being under control. The control stations are equipped with weather stations for measuring meteophysical properties.
In the near future, Nizhnekamskneftekhim will have a mobile ecological post equipped with the most modern equipment. This will be a special “Laboratory” car, which will allow removing a complete ecological cut of the atmospheric air for the main pollutants in any geographic location. The obtained information will be subject to real-time transmission to the company's environmental monitoring system.Staff members of Nizhnekamskneftekhim Design & Engineering Center took part in a specialized conference organized by Aspen Technology in Moscow. Event attendees, representing a number of big industrial companies in Russia, projected their digitalization strategy for chemical and petrochemical industries, spoke about new trends and experience in application of AspenTech software directly in the chemical industry and in the design.
Nina Sharipova, Head of Design Automation Department at Nizhnekamskneftekhim D&E Center, made a presentation on “Process engineering support by modeling methods based on Aspen Tech solutions.” She also answered questions of conference participants on modeling tools’ application and achieved practical effect.
It was stated at the conference that modeling systems are successfully used by PJSC Nizhnekamskneftekhim in the design because of gained experience and profound knowledge both in the field of petrochemical technologies and implementation of Aspen Tech solutions, which allowed to develop a significant number of various process models.
PJSC Nizhnekamskneftekhim participated in the Ural International Scientific and Practical Forum “Polymers - 2018. Production. Recycling. Logistics", which took place on October 4 in the city of Revda, Sverdlovsk Region, on site of one of the largest plants for production of extrusion materials.
Representatives of 35 companies from Russia, Germany, Austria, Poland and Canada have attended the Forum. More than 100 participants - managers and technologists of processing enterprises and scientists gathered together to discuss the development of the polymer industry and share experience.
PJSC Nizhnekamskneftekhim was represented by specialists of Commercial division and R&D Center, who presented three reports. Their papers gave special focus on the results of the development of new polystyrene grades for food packaging as well as new popular grades of polyolefins with improved characteristics and reviewed general characteristics and application field of PE 5118NM, PE 6146KM, PE 5115R, PE 6347K, PP 8440R, PP 4222L polymers along with their advantages compared to current market brands.
The presentation highlighted main advantages due to which PJSC Nizhnekamskneftekhim is selected for cooperation, specifically: high product quality, wide range of brands, scientific background of R&T center, technical support, convenient logistics, product availability for consumers, delivery according to the agreed schedule, reasonable prices, product fulfillment, social responsibility.
Azat Bikmurzin, General Director, was solemnly awarded a commendation at the annual symposium of “Bulletin of Civil Procedure ” journal, held at the Arbitration Court of the Volga District of Kazan on October 5; the letter itself was officially handed in to Aidar Sultanov, Head of Legal Division of the Company, by Pavel Krasheninnikov, Chairman of the State Duma Committee on State Building and Legislation, Doctor of Law. The letter states: "Thanks to your participation, we have the opportunity to publish academic papers of the best representatives of procedural science of Russia."
Nizhnekamskneftekhim has been cooperating with “Vestnik of Civil Procedure” journal for 8 years. During this period the journal has become a recognized and highly authoritative academic publication in the field of procedural law.
Two new pyrolysis furnaces of SRT-VI type were put into operation at Ethylene plant of PJSC Nizhnekamskneftekhim. Their construction was carried out under the production facilities modernization and expansion program. The main advantage of the new equipment is that it is energy- efficient and environmentally safe. Furthermore, their implementation will reduce the consumption of fuel gas and reduce the emission of harmful substances into the atmosphere.
To date, 18 pyrolysis furnaces are installed at ethylene plant: 11 of them are in operation, the rest are in reserve. Two new SRT-VI furnaces will be able to replace 4 old ones as they show higher capacity and selectivity. Configuration of the furnaces allows to increase the yield of end products - ethylene, propylene, benzene and produce a conditioned super high pressure steam.
On October 3, 2018, as part of the Russian Energy Week 2018 forum, PJSC Nizhnekamskneftekhim signed a long-term loan agreement covered by the insurance policy of Euler Hermes for about 240 million Euros until the end of 2033.
The creditor will be a consortium of six banks, representing mainly the Federal Republic of Germany and organized Deutsche Bank AG. In addition to Deutsche Bank, the original lenders include UniCredit Bank AG, Bayerische Landesbank, Landesbank Baden-Wurttemberg, DZ BANK AG.
The agreement was signed by Azat Bikmurzin, the General Director of PJSC Nizhnekamskneftekhim, and Daniel Schmand representing Deutsche Bank AG, who is the head of the global trade finance department, and also heads the commercial banking department for EMEA (Europe, Middle East and Africa). The signing ceremony was attended by the President of the Tatarstan Republic Rustam Minnikhanov and the General Director of TAIF Albert Shigabutdinov.
The funds of the credit line will be used to finance the contract with Siemens as part of the project for the construction of a new electric power plant with a capacity of 495 MW (CCGT-TPP) being implemented by PJSC Nizhnekamskneftekhim.
PJSC Nizhnekamskneftekhim – is one of the largest petrochemical companies in Europe, it takes up the leading position among domestic producers of synthetic rubber, plastics and ethylene. The Company is part of TAIF Group. The company was founded in 1967. The main production facilities are located in the city of Nizhnekamsk, Republic of Tatarstan. The range of products output comprises more than 120 items. The products of the company are exported to 50 countries in Europe, America and Southeast Asia. The share of export in the total volume of production is about 50%.
TAIF group is one of the largest industrial investment companies in Russia with significant assets and a strong production potential, a flexible form of administration and a high level of management. TAIF group of companies, which unites 47 subsidiary and affiliated companies, operates in many areas. Five of them are basic: oil and gas processing and petrochemistry, energy production, construction industry, investment and service sectors. All enterprises of the Group are closely interconnected financially, technically, technologically and in management. TAIF is the largest holding in terms of production volumes among the enterprises of the petrochemical industry in Russia.
Deutsche Bank AG is the leader of the German banking industry, having a strong position in Europe, North and South America and the Asia-Pacific region. Deutsche Bank AG provides financing for trade operations, investment banking services, commercial banking services, banking services to individuals and offers products and services for managing assets and large private capital. The bank's clients include corporations, government agencies, institutional investors, small and medium-sized businesses, and individuals.
Euler Hermes is a world leader in the field of insurance and receivables management, as well as a recognized expert in the field of credit insurance. The history of Euler Hermes has more than 100 years, during which the company has experienced a series of ups and downs with the global economy, having accumulated considerable expertise in the analysis of financial and economic risks on an international scale. Company's offices are located in more than 50 countries.
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