25 December 2006, NKNK Board of Directors held its regular session presided by A. Shigabutdinov, General Director of “TAIF” JSC.
The Board reviewed a 2008-2012 strategic development program for “Nizhnekamskneftekhim” INC. This program contemplates large-scale construction and putting into operation of large-capacity production facilities, primarily, for synthetic types of rubber and plastics. The Company started to actively develop a plastics market four years ago, when a state-of-the-art polystyrene production facility was commissioned.
The Board approved of the progress in the NKNK environmental policy based on a sustainable advancement, in full compliance with ISO 14001:2004 requirements.
The session also reviewed participation of “Nizhnekamskneftekhim” INC in implementing a List of first priority environmental protection measures for Nizhnekamsk and Nizhnekamsk region within 2006-2008. It adopted to implement a proposal on financing a reconstruction of the environmental installations being the Company’s property, which will cost RUR 1,023m for 2007-2010.
The Board approved a first half 2007 program for audit, personnel and award committees, and Regulations for independent directors of “Nizhnekamskneftekhim” INC.
The Board members took into consideration the draft regulations for dividend policy, a report on the progress of one-stage isoprene synthesis implementation as per the Program and assessed as positive a polypropylene production facility startup operation.