OREANDA-NEWS. The Board of Directors of the company reviewed a strategic program of “Nizhnekamskneftekhim” INC development in 2008-2012 delivered by V. Busygin, General Director “Nizhnekamskneftekhim” INC.

Basing on the preliminary estimates as to the proposed investment projects, the NKNK proceeds will amount to RUR 158bn in 2012. The program is aimed not only at expanding the existing facilities capacities but also at constructing large-capacity petrochemical complexes, which require sizable investment outlays.

To further strengthen the Company’s position in the petrochemical market, “Nizhnekamskneftekhim” INC devised an investment program, which contemplates for investments to develop the Company’s existing production facilities and to set up new cost-effective petrochemical complexes amounting to RUR 115 billion.

Allocation of supplemental shares will enable to attract funds onto the Company’s issue account amounting to RUR 25.8bn without creating a debt burden for “Nizhnekamskneftekhim” INC, will enable to ensure achievement of the Company’s financial coefficients at the required level and to additionally gain RUR 100bn of loan capital.