Rustem Khamitov: "We will insist on making Bashneft’s dynamic development even more vigorous"

UFA, 17 September 2015. /Bashinform News Agency, Iliya Spiridonov/. Further development of Bashneft involves the chemical production expansion. The Head of Bashkortostan Rustem Khamitov stated that after a meeting with the Head of the Federal Property Agency (Rosimuschestvo) Olga Dergunova and signing a Shareholders Agreement on disposal and voting procedure of Bashneft’s shares.

“Of course, further development of Bashneft is associated with development of the chemical industry. Today "Ufaorgsintez" is a very respectable company, which is making good progress and should double its production and output according to the strategic plan by 2020. There will be implemented new kinds of products, including demanded in the economy and in the defense industry,” said the Head of the Republic.

According to Rustem Khamitov, cluster policy should be promoted to achieve the necessary goals.

“We need a collaboration of chemical, petrochemical complexes located in the territory of the Republic of Bashkortostan and in neighboring regions”, said the Head of the Region.

The leadership of the republic is interested in the success of the company.

“We will try to create all conditions to make the company's financial results materially significant, to apply forward thinking approach that the company's development strategy will meet the demands of Russian society as a whole and the Republic of Bashkortostan in particular”, said Rustem Khamitov. “For us it is especially important as 5 billion rubles of dividends are almost 4 percent of the spending part of our budget. It's quite large resources.”

The Head of the Republic expressed his confidence that in the future the company would be able to achieve more significant results.

“Bashneft company is powerful. It can develop even faster; it can move even more actively in terms of increasing its production in all areas. It relates to not only oil and oil products, but many, many other directions. I think it will all be discussed at the Board of Directors and at the general meetings of shareholders. We, as a major shareholder, will insist on making Bashneft’s dynamic development even more vigorous”, Rustem Khamitov said.