Kazanorgsintez told about plans to increase revenue

One of the largest Russian producers and exporters of petrochemical products, PJSC "Kazanorgsintez" (part of the "TAIF" group of companies) in the coming years should increase revenues from 72 billion rubles in 2017 to 100 billion rubles in 2021, said  President of Republic of Tatarstan, Rustam Minnikhanov.

"It is impossible to stop on what has been achieved. The new program (strategic development of the company) until 2025 is very serious, but already in 2021 they must go to the revenue for 100 billion rubles," Minnikhanov told journalists after the annual shareholders meeting of Kazanorgsintez.

At the same time, according to the President of the Republic of Tatarstan, the company should produce 650,000 tons of its own ethylene and 1 million tons of polyethylene.

Minnikhanov underlined, that "Kazanorgsintez" successfully completed 2017, despite all its difficulties - the conjuncture of prices for polyethylene, the difficulties of access to raw materials and others. At the same time, the company carried out a large modernization of existing production facilities and fully paid for loans that they took for this purpose. "There is no doubt that the company will cope with this task," the head of the republic summed up.

Earlier, the general director of "Kazanorgsintez" Farid Minigulov said that in 2017 the revenue from the sale of the company's marketable products amounted to 72 billion rubles, which is for 3.4 billion rubles or 4.5% lower than in 2016. The main impact on revenue reduction, he said, was the price environment in the polyethylene market. At the same time, the influence of the price factor was partially offset by an increase in production volumes in physical terms.