Press Room

Metalloinvest and Monotown Development Fund sign collaboration agreement

1 June 2017

Metalloinvest and the Monotown Development Fund, a non-profit organisation, have signed a collaboration agreement at the St. Petersburg International Economic Forum.

Andrey Varichev, CEO of Management Company Metalloinvest, and Ilya Krivogov, Director of the Fund, signed the agreement.

The parties agreed to collaborate on the implementation of development projects in single-industry towns.

The agreement envisages the exchange of information on issues related to preparing and implementing monotown development programmes and supporting projects and initiatives taking place in single-industry towns.

Metalloinvest plans to present the Fund with information about its development plans in single-industry towns where its enterprises are the main employers, programmes to allow employees of its enterprises more leisure time, and the measures the Company has undertaken to improve its employees' social conditions. In addition, Metalloinvest intends to take part in the implementation of projects to improve living conditions in single-industry towns, to make the urban environment more pleasant in these towns and to support small and medium-sized enterprises.

The Monotown Development Fund will provide the Company with support in the form of consultancy and informational assistance for the formulation and implementation of development programmes for single-industry towns, as well as assistance in identifying and attracting investment in these places.

Andrey Varichev commented: "The sustainable development of the towns in which Metalloinvest enterprises operate is a constant factor in the Company's decision making. Metalloinvest actively takes part in the economic and social development programmes of the towns where it operates, in close partnership with local authorities. In 2016, Metalloinvest began developing and implementing its Novotroitsk development programme, working with the administrations of Novotroitsk and the Orenburg region, with the invaluable support of the Monotown Development Fund. This year, we are launching a similar project in Zheleznogorsk in the Kursk region."

Ilya Krivogov noted: "Implementing this programme will give new momentum to the development of the single-industry towns in which Metalloinvest operates, and we hope for a long and productive partnership with the Company."

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