OREANDA-NEWS. On 17 April 2008 was announced, that the General Director of OJSC “Mineral and Chemic Company “EuroChem” Dmitry Strezhnev, the governor of the Leningrad Region Valery Serdukov and the head of the administration of MO “Kingisepp Municipal District” Elena Antonova concluded an agreement for social and economic cooperation for 2007 and recognized all the obligations of the similar agreement of the previous year as fulfilled.

In accordance with the newly signed agreement the Company will invest 680 million rubles in technical re-equipment and improvement of quality of produces of PG “Phosphorite”. Modernization provides for development and implementation of resource-saving technologies at production as well as reconstruction of the main production assets. The agreement also stipulates financial obligations of “Phosphorite” in relation to its own personnel, namely, 45 million rubles are allocated for construction of a hostel for young specialists.

It is planned to transfer to the consolidated budget of the Leningrad Region 275 million rubles (in 2007 this amount was 164 million rubles).

EuroChem will continue the practice of provision of financial support for socially significant projects of the Leningrad Region and the Kingisepp District. The agreement stipulates allocation of 28 million rubles for development of directions of charity which are of priority for the company – education, health care and sports. Funds will be directed at strengthening of the material and technical base of educational establishments of KIngisepp, development of sport clubs, acquisition of a computer tomograph for a district hospital.

Taking into consideration experience of previous years it may be marked that the Company has fulfilled its obligations under the Agreement ahead of schedule. We would like to remind, that within the framework of the supplementary agreement signed in 2006 EuroChem should have within three years transfer 45 million rubles for development of a regional clinical hospital. The last tranche at the amount of 15 million rubles was successfully received by the hospital at the end of December last year.

In their turn, representatives of regional and local authorities within the framework of effective legislation oblige to create economic conditions aimed at stimulation of sustainable development of MCC EuroChem and its subsidiaries. 

The signed agreement fixes activities traditional for MCC EuroChem within the framework of corporate social responsibility. Signing agreements for social partnership on an annual basis the parties demonstrate an example of open and constructive dialogue.