Plans for 10 years: TAIF PSC and Linde AG sign memorandum on strategic cooperation

On 2 June, on the second day of the St. Petersburg International Economic Forum, in presence of President of Tatarstan Rustam Minnikhanov and Prime Minister of Bavaria (Germany) Horst Seehofer, Chief Executive Officer at Linde AG Christian Bruch and Director General of TAIF PSC Albert Shigabutdinov signed a strategic cooperation memorandum, which defines the main directions of joint activities for 10 years. The signing was also attended by the head of the technological holding company Siemens AG Joe Kaeser and President of Siemens in Russia Dietrich Meller.

The memorandum includes a number of contracts for gas distribution, technical gases, and most importantly, the four stages of the ethylene complex of Nizhnekamskneftekhim PJSC. The first stage of the memorandum was the basic agreement for design, equipment supply, performance of services for the commissioning of the first phase of the olefin complex with a capacity of 1,200 thousand tonnes of ethylene — a new production EP-600. The agreement was signed by Director General of Nizhnekamskneftehim PJSC Azat Bikmurzin and Managing Director at Engineering Division of Linde AG John Van der Velden.