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Participants in the videoconference included Head of Tatarstan Rustam Minnikhanov, Chairman of Vnesheconombank Vladimir Dmitriev and Chairman of the Board of Directors of Ammonium JSC Rinat Khanbikov.

The Ammonium high-tech complex producing ammonia, methanol and granulated urea was established in Mendeleyevsk on the basis of a mineral fertilizer plant. The company’s production capacity is over 700,000 tonnes of urea, 480,000 tonnes of ammonia and 230,000 tonnes of methanol per year.

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President of Russia Vladimir Putin: Colleagues,

I would like to congratulate you on the successful completion of the first stage of works to launch a much-needed, major company. We have not launched an enterprise like this – a full-cycle gas processing plant – since 1991. This is certainly a much-needed project whose products will be used in construction, agriculture, and other sectors.

The investment is decent, $1.5 billion, and there is good cooperation with Asian partners, with Chinese and Japanese investors, with European industrial companies’ representatives.

The first part of the project has been implemented. I know that you have other plans for developing this enterprise. I want to congratulate you and wish you success.

Vnesheconombank Chairman Vladimir Dmitriev: Thank you.

Mr President, Mr Minnikhanov, the Ammonium project truly is a bright example of long-term, effective cooperation between Vnesheconombank and the Republic of Tatarstan.

In September 2008, Vnesheconombank Supervisory Board, which you, Mr President, chaired at the time, made the decision that the bank would provide financing for this project. And today, we are proud to say that this project is ready to launch.

It is important to stress that the Ammonium project is among ten largest industrial and infrastructure projects launched this and last year with financial assistance from Vnesheconombank. Thank you very much for your support in implementing these projects.

Vladimir Putin: Mr Minnikhanov, please.

Head of Tatarstan Rustam Minnikhanov: Mr President, I am sincerely grateful to you; you supported the project back then, although there were many doubts and concerns. And today, we can report that this is the most modern export-oriented plant. And we have plans to implement a second project like this. I am confident that we will succeed in this as well.

A video is played.

Chairman of the Ammonium JSC Board of Directors Rinat Khanbikov: Mr President, Mr Minnikhanov, we have completed start-up and adjustment work at the Ammonium complex to produce ammonia, methanol and urea, and obtained all licenses and approvals. We are ready to launch production at full capacity. I am asking for your permission to launch operations at rated capacity.

Vladimir Putin: I want to once again thank you for the work you did along with Mr Minnikhanov, because back then he managed to convince everyone engaged in decision-making regarding financing of this project that it would certainly be implemented. And you did it.

Go ahead. Start operations.

Rinat Khanbikov: Start operations at rated capacity.

Rustam Minnikhanov: Thank you, Mr President.

Vladimir Putin: Congratulations.