Kadyrov has high hopes for the development of the company «Chechenneftekhimprom»

© RIA Novosti / said to Carnaveral in fotobanka of the Chechen Republic Ramzan Kadyrov. Archival photoKadyrov has high hopes for the development of the company «Chechenneftekhimprom»© RIA Novosti / said to Carnaveral the image Bank

The head of Chechnya Ramzan Kadyrov believes that the development of the company «Chechenneftekhimprom» will be the main investment direction in the Republic’s economy, which will allow «to produce oil, to build the plant.»

The President of the Russian Federation on September 18 signed a decree on the transfer to Chechnya of the company «Chechenneftekhimprom». The head of state instructed the Cabinet of Ministers of the Russian Federation within two months to ensure the transfer of the enterprise. The Russian government has instructed the government until November 15 to transfer 100% of the company «Chechenneftekhimprom» the property of Chechnya.

«Chechenneftekhimprom» owns about 2 thousand land plots with an area of 7740 hectares, and more than 1.1 thousands of wells, most of which are in working condition.

«We have long been negotiating the transfer «of Chechenneftekhimprom», faced with misunderstanding and opposition finally gave it to us. This will be our main priority. We will be able to produce oil, to build a plant, to offer investors. According to forecasts, we expect that this will be the main investment direction. There are already interested people and companies», — Kadyrov said at a press conference on Saturday in Grozny.

The Chechen Republic for many years tried to regain control of oil and gas assets, however, approval of transfer «of Chechenneftekhimprom» the question arose about the division of property of the company, which is controlled Rosneft, Grozneftegaz. In early 2017 it became known about the readiness of Rosneft to sell Chechnya 51% of shares of Grozneftegaz, the Republic owned it 100%. This package and other assets of Rosneft in Chechnya was estimated at PwC 12.5 billion rubles. The head of the Republic Ramzan Kadyrov called the amount excessive.

The latest news on this topic was in April 2017, when Rosneft announced that its head Igor Sechin have agreed with Kadyrov to establish a working group on enhancing the effectiveness of joint projects. For his part, Kadyrov announced the settlement of all misunderstandings of the requirements and arrangements that the company will develop and oil direction, and the economy as a whole.