TAIF HAS SIGNED TWO MAJOR AGREEMENTS WITH SIEMENS AND DEUTSCHE BANK
Posted on 11-10-2018 by GBC
Deutsche Bank will issue TAIF a loan at 240 million euros for the construction of a power plant. The autonomous power plant is to be built by 2021, the project on the basis of an EPC contract is implemented by the German concern Siemens. The power unit with a capacity of 495 MW has a forward-looking nature — it will provide electricity to all enterprises of the petrochemical giant, including those which construction is only planned.
It has been the second loan agreement between TAIF and Deutsche Bank this year. In May, at the St. Petersburg International Economic Forum, NKNK, the TAIF subsidiary, signed the document with Deutsche Bank to provide a loan of 807 million euros for 15 years for the implementation of the olefin complex project.
“We appreciate the reliability of TAIF and NKNK and the professionalism of their management. Besides, we should support German industry and European companies in the export of their equipment and products,” said Daniel Schmand, Global Head of Trade Finance and Regional Head GTB EMEA at Deutsche Bank.
The second agreement has been signed between TAIF and Siemens. The strategic cooperation agreement between TAIF and Siemens has been in force since 2014, and the new document has become its supplement and continuation. Over the years of the joint work, the German concern has supplied equipment and has been engaged in the reconstruction of production facilities at all leading enterprises of TAIF Group.
The new document will allow to expand the cooperation on direct purchases of equipment, components and spare parts of Siemens by the enterprises of TAIF Group. In addition, by signing the new agreement, the partners confirmed their intention to continue the implementation of joint projects in the field of power engineering, automation of technological processes and integrated resource accounting, the introduction of modern electrical equipment for power supply systems of industrial enterprises, energy-saving technologies.
“The agreement should expand cooperation in the field of petrochemical complex, it is the improving of the efficiency of technological chains. Energy efficiency projects: these are digital control systems, i.e. digitalization and various systems, so the agreement should be the basis for deepening the cooperation with TAIF. We have a number of new projects that we will discuss,” commented Alexander Liberov, President of Siemens in Russia.
Digitalization plays a key role in Siemens strategy. “In Europe Siemens is one of the pioneers in development of Industry 4.0 system”, — stressed the head of company’s Volga Federal District branch Shamil Fayzrahmanov, — “Siemens offers its customers the digital twin models that help to optimise production processes of client’s enterprise, thereby increasing its effectiveness and profitability”.
“Siemens is a strategic partner of our republic in many areas,” Tatarstan President Rustam Minnikhanov said after the signing. Germany remains one of the largest trade and economic partners of the republic: in 2017, the foreign trade turnover between Germany and Tatarstan increased by 74% and amounted to almost 2 billion dollars. The signed agreements will strengthen the cooperation not only between the companies, but also between the republics.
Shamil Fayzrahmanov will give a speech at the second annual “Downstream Tatarstan” conference presenting Siemens solutions in the field of industrial digitalisation using KAMAZ case-study.