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TAIF plans to triple revenue due to its large-scale projects

April 07/2021

MOSCOW (MRC) - The TAIF Board of Directors discussed the implementation of the group's development program for 2020 - 2030 in 2020, Devon news agency reported.

Thus, the Council approved the Development Strategy of TAIF Group for 2021Ц2030. The plans are to receive more than Rb1.75 trillion of revenue per year by 2030. In 2020, the proceeds from the sale of commercial products amounted to Rb582 billion.
 
To implement more than 30 large-scale investment projects, a colossal amount of investment will be required, the report says. Their size over the next 10 years will amount to Rb1.6 trillion. This is 2 times higher than investments in the entire history of TAIF Group from 1995 to 2020.

Taking into account the implementation of the Development Strategy for 2021-2030. the total investment of TAIF Group for 1995-2030 will amount to Rb2.5 trillion. 
 
The company has been building a Heavy Residue Conversion Complex at TAIF-NK for several years. KGPTO will increase the level of production of valuable light oil products up to 98.2%.
 
Nizhnekamskneftekhim began construction of the first facilities of the new "ethylene plant", two stages of ethylene production with a volume of 600 thousand tons per year and its derivatives. This will increase the annual production of ethylene to 1.8 million tons, polymers by 3 times and reach the level of rubber production up to at least 1 million tons.
 
Several years ago, a program for the construction of a gas processing plant and a petrochemical complex was developed jointly with PJSC Gazprom. This would provide Kazanorgsintez with additional ethylene feedstock in the amount of up to 1.8 million tonnes per year. Kazanorgsintez itself is also going to expand and modernize.

Earlier it was reported that Nizhnekamskneftekhim (NKNKH, part of TAIF Group) signed contracts with Lummus Technology LLC for the provision of licenses and technologies for the production of ethylbenzene, styrene and propylene for the olefin complex. Facilities include a 250 ktpa ethylbenzene and styrene unit using EBOne and CLASSIC SM technologies, and a 150 ktpa olefin metathesis unit for polymer-grade propylene using Lummus ethylene dimerization and olefin conversion technology Technology. The units will operate as part of the olefin complex under construction (EP-600).

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 241,030 tonnes in January 2021 versus 217,890 tonnes a year earlier. Only shipments of low density polyethylene (LDPE) and high density polyethylene (HDPE) increased. At the same time, PP shipments to the Russian market reached 141,870 tonnes in January 2021 versus 123,520 tonnes a year earlier. Supply of homopolymer PP and PP block copolymers increased.

PSC "TAIF" was established in 1995, is the parent company of the group of the same name, which includes enterprises structured in four business areas: oil and gas processing, chemistry and petrochemistry (energy); investment and financial services; building; telecommunications and complex services, including trade. TAIF Group of Companies is a large Russian holding that controls 96% of the chemical, petrochemical and oil and gas processing industries in Tatarstan. The most important of its areas is the Chemistry, Petrochemistry and Oil and Gas Processing Division, which includes the leading Russian polymer producers Nizhnekamskneftekhim and Kazanorgsintez.


mrcplast.com
Author:Anna Larionova
Tags:petroleum products, PP, PE, ethylene, propylene, neftegaz, petrochemistry, Taif-NK, Kazanorgsintez, Nizhnekamskneftekhim, Russia.
Category:General News
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