OREANDA-NEWS. On 17 March 2008 was announced, that OJSC Mineral and Chemical Company “EuroChem”, JSC “Lifosa” (the subsidiary of OJSC MCC “EuroChem”) and Self-Administration of the Kedaynyansky District of the Republic of Lithuania signed the Agreement for social and economic cooperation for 2008. The solemn ceremony of signing involved the General Director of OJSC MCC “EuroChem” Dmitry Strezhnev, the General Director of JSC “Lifosa” Ionas Dasticas and the mayor of the Self-Administration of the Kedaynyansky District Niole Nauikene.

The Parties recognized the results of fulfillment of the trilateral agreement for 2007 productive and constructive. OJSC MCC “EuroChem” invested over 460 thousand dollars for implementation of the programs for financing of social needs of Lithuania and the Kedaynyansky District in 2007. Investments into modernization of production at JSC “Lifosa” amounted to 8.5 million dollars. More than a half of this amount was spent for development of technologies aimed at mitigation of environmental impact of production.

In accordance with the signed Agreement for social and economic cooperation for 2008 OJSC MCC “EuroChem” assumed the obligations for further optimization of production and improvement of resource saving technologies at JSC “Lifosa”. It is planned to invest not less than 14.9 million US dollars into financing of the technical modernization program. In addition, the Company obliges to invest not less than 1.4 million USD into implementation of projects facilitating social and economic development of the Kedaynyansky District, in particular, into support of science and education, sports and wellness and charitable programs of the region.

 In its turn, the Self-Administration of the Kedaynyansky District obliges to facilitate improvement of living and labor conditions of local population including employees of JSC “Lifosa”.

This is already the fourth Agreement for social and economic cooperation between OJSC MCC “EuroChem”, JSC “Lifosa” and Self-Administration of the Kedaynyansky District (the first one was concluded in 2005). Such agreements are concluded by OJSC MCC “EuroChem” on an annual basis in all regions where enterprises of the holding are situated.