OREANDA-NEWS. March 16, 2012. The decision on wage indexation has been made by the Company’s Management Board following the results of the Company’s financial and operational activities in Q4 2011 and based on the advance in prices for commodities and services in the Republic of Bashkortostan.

“The Company’s strategy in 2011 was focused on further production modernization and construction of new facilities. We obtained good results at the year-end and increased capitalization. In terms of product shipment, we tended to saturate the internal market with oil products”, said Damir Shavaleev, Director General of Gazprom neftekhim Salavat. “This year we are planning to implement a large volume of investments: the Refinery modernization in underway for switching to the production of higher-quality fuels, the start-up operations at a urea granulation unit are commenced, ELOU AVT-6 (desalter/crude & vacuum distillation unit) is to be put into operation in Q2 2012. The successive modernization of EP-300 (ethylene/propylene production facilities) is underway. As for the creation of All-Russian Gas Chemistry Center and the Industrial Estate, we have gained the support of shareholders and management, intense work in that direction is done. All projects require involvement of top-ranked specialists without whom it is hard to imagine a modern petrochemical complex today”.

Gazprom neftekhim Salavat annually indexes the wages of its personnel. The high level of social protection of the Company’s employees was appreciated by the Republican Organization of Bashkortostan of Roskhimprofsoyuz (Russian Trade Union of Chemical Industry Workers) in 2011; the Collective Agreement of Gazprom neftekhim Salavat was recognized the best among the largest chemical companies of the Republic.