TNK-VR this year will increase investments on $377 million

TNK-VR this year will increase investments on $377 million TNK-VR declared the results of leadthrough of Board of directors of TNK-VR Limited, basic holding company of group of companies of TNK-VR today. Key production achievements of TNK-VR in the first half 2009 years are included start of Uvatskogo of project on the south of the Tyumenskoy area, where 45 thousands are presently obtained barr./sut.; beginning of industrial development of north part of the Stone deposit in Khanty-mansiyskom
autonomous district, and also completion of the planned major repairs on Ryazanskom NPZ, conducted in time and without accidents.  The board of directors approved the increase of organic investments on 377 million doll. in 2009. These facilities will be invested
in the strategic projects of TNK-VR, which will provide continuation of steady booty, and also will be used for financing of current production activity and maintenance of integrity of equipment.The councillors of directors considered existing
possibilities for neorganicheskogo growth and supported conception of further development of business in Russia and after its limits for the increase of value of portfolio of assets of TNK-VR.   «We are satisfied by job of TNK-VR performances in the first half 2009 years. A company continued
successfully to execute the put tasks within the framework of budget and in difficult economic terms, — the executive chairman of Board of directors of TNK-VR said Mikhail Fridman. — Our priority is maintenance of operating condition of production activity
and the effective arranged work in a transitional period of TNK-VR».