Government of Kursk region signs tripartite agreement for social and economic cooperation in 2016

April 1, 2016

Today, the Kursk House of Soviets hosted the signing of a tripartite agreement on the social and economic cooperation between the government of Kursk region, the government of town Zheleznogorsk and Metalloinvest Management Company LLC in 2016.

The document was signed by Alexander Mikhailov (the Governor of Kursk region), Viktor Solntsev (the mayor of Zheleznogorsk) and Andrey Varichev (CEO of Metalloinvest Management Company LLC).

Summarizing the results of last year’s partnership, the parties noted that their constructive trilateral cooperation had been obviously beneficial for the people living in the region. In particular, investment in social programs exceeded one billion rubles, the bulk of that amount coming from Mikhailovsky GOK (a company operating as part of Metalloinvest Holding). The regional government invested more than RUB 321 million, the government of Zheleznogorsk RUB 69 million.

In partnership with the city and the region, Metalloinvest is implementing a number of targeted social programs in Zheleznogorsk (“Healthy Child”, “Women’s Health”, “Our Champions”, “Our Successors”, providing support to seriously ill children, young teachers, healthcare workers, talented schoolchildren. The company also sponsors landmark projects in the cultural sphere.

The new agreement envisages higher financing of existing social programs and subsidies to businesses, in addition to that. Under the document, total investment will reach RUB 1.15 billion: more than RUB 700 million from Metalloinvest, about RUB 390 million from the budget of Kursk region, RUB 58 million from the government of Zheleznogorsk. The funds will be used for the upgrade of material and technical resources at healthcare and educational institutions, for the support of children’s sports and professional sports teams, for the development of the urban infrastructure (particularly for road building purposes), for the construction of a new kindergarten, etc.

As for the production activity of Mikhailovsky GOK, the company increased its key performance indicators against the previous year, despite the well-known macroeconomic challenges (16.8 million tonnes of iron ore, 11 million tonnes of iron ore pellets). The higher output pellet resulted from the commissioning of new production capacities at kiln no. 3.

“I’d like to particularly appreciate the contribution of Mikhailovsky GOK to the development of the region and to thank Metalloinvest and its head Alisher Usmanov. What we see is a showcase of successful public-private partnership contributing to the further development of Zheleznogorsk and solving a number of problems in the industrial and social sectors," Alexander Mikhailov said.

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