Tatneft and MOL will build a rubber-modified bitumen (RBM) installation at the TANECO complex. The installation made according to the Hungarian company’s technology will allow producing high-quality astringent for the road surface and will provide for the secondary processing of up to 500 thousand automotive tyres per year.

The launch of high-tech production facility of the about 25 thousand tons of RBM has been scheduled in the middle of 2023.

The official ceremony has started the joint project implementation and it was attended by Rustam Minnikhanov, President of Tatarstan; Peter Siyarto, Minister of Foreign Economic Relations and Foreign Affairs of Hungary; Nail Maganov, General Director of TATNEFT, Ilshat Salakhov, Director General of TANECO, Kristof Szabo, General Director of the Hungarian Export Development Agency and representatives of the Hungarian MOL Group Company.

The parties have agreed to establish a joint venture OOO RMB-RUSS and signed the contract for a grant of the Hungarian Export Development Agency has been signed.

The signatures under the documents have been affixed by Sabo Cristofof, General Director of the Hungarian Export Development Agency, Maxim Chuvayev, General Director of RBM-Russ and Ilshat Salakhov, General Director of TANECO.

The investments amount in the project will account for RUB 1.2 billion. The plans provide that the project financing will be partially made through the tender arrangements by the Hungarian Export Support Agency (HEPA). HEPA has extended a non-recurring irrevocable grant to support the overseas use of a patented MOL technology for reimbursing up to 50% of the capital expenditures amount to ensure the project compliance with the requirements of structural conditions and profitability. At the same time, 51% of the joint venture share will belong to the MOL Group. The partners will be able to change the structure of cooperation 5 years after the production facility commissioning.

The joint project of TATNEFT and the MOL Group will strengthen the international cooperation and contribute to the development of the circular economy using innovative technologies. The partnership is aimed at solving decarbonization tasks in the sustainable development framework.

"Our new joint project with the Hungarian MOL Group is the desire materialization of the Vladimir Vladimirovich Putin and Viktor Orban, leaders of our countries, to develop mutually beneficial cooperation. This is an example of a partnership between two companies, our practical participation in solving global problems of warming and responsible consumption based on the concept of a circular economy," Nail Maganov, General Director of PJSC TATNEFT, said.

Oscar Vilagi, Member of the Board of Directors, General Director for Innovation of the MOL Group, said:"I always feel very much proud when the knowledge and achievements of the Carpathian basin folks contribute to the development of other countries. The rubber-modified bitumen technology developed by MOL and a group of scientists from the University of Pannonia, can now contribute to strengthening the closed cycle economy of the Commonwealth of Independent States peoples, offering a way to recycle rubber tyres, previously considered waste, into a material for the construction of a road surface. This region has a great business potential. In addition to the technology development, such cooperation also serves the future of our children and grandchildren, since global warming does not recognize national borders. We have a common destiny, although we live thousands of kilometers away from each other".