OREANDA-NEWS. October 31, 2011. On October 19 2011, Russian First Deputy Prime Minister Viktor Zubkov and Anatoly Brovko, Volgograd Region Governor, visited EuroChem-Volgakaliy, a EuroChem subsidiary currently developing potash deposits in the Southwest of Russia. The guests toured the beneficiation plant construction site as well as social infrastructure projects such as the residential development presently underway in the neighboring town of Kotelnikovo.

In conjunction with the visit Anatoly Brovko and EuroChem CEO Dmitry Strezhnev signed a social and economic partnership agreement aimed at developing social and transportation infrastructure around the Gremyachinskoe potash project.

The agreement prioritizes construction projects and sets investment guidelines for the RUB 2.2 billion in federal subsidies granted in 2011. The Volgograd Regional Administration will implement a series of measures regarding the intended use of federal subsidies and provide RUB 200 million from the regional budget for investments. EuroChem will invest up to RUB 2 billion in housing developments representing 90,000 square meters of residential space and RUB 1.5 billion in social infrastructure projects, including in kindergartens, a school, an outpatient clinic, and in transportation and engineering infrastructure facilities. The Volgograd Regional Administration is set to facilitate the implementation of these investment projects and assist EuroChem on organizational matters.