Nizhnekamskneftekhim to boost revenue 150% in 2020
KAZAN. April 16 (Interfax) - Russian petrochemicals company OJSC Nizhnekamskneftekhim plans to boost revenue 150% from 2011 to 2020 and sales profit by 350%, company materials show.
For comparison, the company is using figures from 2010, when revenue to Russian Accounting Standards was 94.4 billion rubles and sales profit was 12.3 billion rubles.
The company aims to boost its sales with the help of its investment program to 2020, which Nizhnekamskneftekhim is already implementing. The materials say another Nizhnekamskneftekhim will be built by around 2020.
"The strategic development program for OJSC Nizhnekamskneftekhim to 2020 was designed to integrate with the key areas of development in the Tatarstan oil and gas industry and completely corresponds to its aims and objectives. It corresponds to the key principles of the oil and petrochemicals development plan in Russia to 2030, which emphasizes the great shortage of domestic pyrolysis capacity as a factor hindering further development in the industry."
The company's main project within the strategy will be to set up ethylene production with 1 million tonne annual capacity with subsequent production of polyethylene (600,000 tonnes per year) and polypropylene (400,000 tonnes per year). Current production capacity is 600,000 tonnes for ethylene, 230,000 tonnes for polyethylene and 190,000 tonnes for polypropylene.
The company produced around 600,000 tonnes of rubber in 2012. It plans to produce 1 million tonnes in 2020.
The strategy also envisages upgrading and expanding petrochemical production.
Nizhnekamskneftekhim is one of the largest producers of synthetic rubbers in the world and one of the biggest plastics producers in Russia. According to the company's data, OJSC Svyazinvestneftekhim owns 28.6% of its ordinary shares (25.2% of its charter capital), LLC Telecom-Management (a subsidiary of OJSC TAIF) has 50.6% (44.5%), and NKB Investments Ltd. holds 8.8% (7.7%).
