Official website of the President of Russia

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President of Russia Vladimir Putin: Good afternoon, friends,

Today is a very happy, important and exciting day for all of us. It’s not only because it marks the completion of a 60-billion-ruble project, which is certainly impressive in and of itself. Two billion US dollars is a very large investment project by any standard.

But what’s even more important is that these funds have been invested in something that’s useful, necessary and beneficial for our country. Both in terms of its scale and its value, today’s event – I know you’ve been preparing for the plant’s opening for a long time – has a very significant meaning.

A new, important cluster has appeared on Russia’s industrial map; not just one plant, but an entire cluster involved in the production of a very important product: polypropylene.

The issue at stake is not simply that we’ve started to produce something new. This is a multifaceted task. For many years now we’ve been talking about how to make use of associated gas, large quantities of which are burned. Previously, in 2012, we burned 23 percent of all associated gas, over 17 billion cubic metres. Once your plant is operational, 5 billion cubic metres of gas that would otherwise be burned will be used here, in your plant. Instead of being flared, it will be put to work for the Russian and global economies.

”A new cluster has appeared on Russia’s industrial map; not just one plant, but an entire cluster involved in the production of a very important product: polypropylene. 5 billion cubic metres of gas that would otherwise be burned will be used here. Instead of being flared, it will be put to work for the Russian and global economies.“

Paradoxically, despite its huge resource potential, Russia is still a net importer of products our economy needs, and in quite large volumes. With the launch of this enterprise the number of products we import will decrease. Therefore, this project has achieved a number of objectives, and from its inception, was approached using the most up-to-date technologies, involving environmental experts of global standing and international environmental organisations.

Finally, it is important that new jobs, especially high-tech, well-paying ones have been created. Average salaries within the SIBUR group are more than 50,000 rubles, which is higher than the national average. And here at this plant salaries should be 25% higher than they are within the entire group of companies.

Therefore, all aspects of this project are positive; it represents a real step forward in the development of Russia’s economy. I congratulate all of you and would like to thank everyone who participated in the project’s implementation from the outset.

Just yesterday I met with Moscow Mayor, Sergei Sobyanin, who, as you know, used to be Governor of Tyumen Region. He recalled how the project got started several years ago now.

This project was realised through the efforts of engineers, workers and entrepreneurs, as well as government agencies: nearly two thirds of total funding was secured by Vnesheconombank loans. This is all our shared achievement, the result of our joint work.

I congratulate you and wish you every success. Thank you very much.