The company is planning to sell the equity in the petrochemicals units OAO Nizhnekamskneftekhim and OAO Kazanorgsintez, and TAIF-NK oil refinery for funding the investment plan through 2016, plastemart.com reported.
The three plants are estimated to have net income of RUB15.6bn on revenues of RUB248bn this year.
The group said that discussions are underway with banks, and a decision will be taken on the best way to do this- through loans, bonds, or an IPO.
The group’s annual report was quoted by plastemart.com as saying that TAIF is planning to invest RUB88bn in the TAIF-NK oil refinery, which will be used to improve the plant’s refining depth to 98.5% from 72% and increase capacity to 10.1 million tpa year in 2016.
An investment of RUB149bn is being considered in Nizhnekamskneftekhim and another RUB110bn has been planned for the Kazanorgsintez petrochemical plant.
