OREANDA-NEWS. The social and economic cooperation agreement was signed by CJSC Transmashholding and the Rostov Region authorities in Rostov-on-Don on June 7, 2007.

According to the press service of “Transmashholding”, the agreement sets the main cooperation principles for the region and Novocherkassk authorities, holding top management, and Novocherkassk Electric Locomotive Plant (NEVZ).

All the parties concerned have made commitments to develop the region social and economic fields. CJSC Transmashholding is implementing its investment projects in the Rostov Region.

For instance, NEVZ has made a commitment to achieve some eight billion roubles’ worth of sales, and forward at least 230 million roubles’ worth of taxes and other compulsory payments to the regional and local budgets.

On the behalf of the region authorities there is a commitment to help Transmashholding in solving problems at the region and federal authorities’ levels.

The agreement provisions also include CJSC Transmashholding support for social programs under way in the Rostov Region.

The agreements like that have been signed with the Rostov Region authorities since 2004. Transmashholding has similar agreements with other regions where its member-companies are located, namely Tver Region, Penza Region, Bryansk Region, and Saint-Petersburg.