A regular session of “Nizhnekamskneftekhim” INC Board of Directors presided by A. Shigabutdinov, General Director of “TAIF” JSC, was held on November 24, 2006.Within 9 months of year 2006 commodity output constituted RUR.32.9bn , which is 14% higher compared to the level of 9 months of year 2005. The growth of commercial output, compared to the relevant period of the last year, amounted to 103.9%. The company effects full and timely payments into budgets of all levels. Over the reporting period more than RUR.3.6bn have been transferred as tax payments. The average wage compared to the relevant period of the last year increased by 12.9% and constituted 16.3 thousand rubles.
Board of Directors approved the financial and production activity results of “Nizhnekamskneftekhim” INC for nine months of year 2006 and approved production program, finance and investment activity plans for year 2007. Total commodity output volume is planned at the level of RUR 52.9bn. The internal rules for Auditing Committee as well as for Personnel and Rewarding Bonuses Committee of NKNK Board of Directors were also approved. RT Minister of Finance, Mr. R. Gaizatullin, and head of the department for the issues of petrochemical complex of RT Cabinet of Ministers, Mr. R. Sabirov, were elected as Chairmen accordingly. During the session, the Board of Directors also discussed questions, connected with finance and economic activity of “Nizhnekamskneftekhim” INC.