OREANDA-NEWS. April 02, 2012. Metinvest Group and Krivoy Rog government agreed to cooperate systematically and join efforts to address social challenges. The agreement was signed as part of the new social policy of Metinvest Group. The total investment in social programmes in 2012 will double to UAH 40 million.

The agreement determines mutual obligations of the company and city government to ensure better conditions for the development of Krivoy Rog and create a comfortable environment for people and business.

"Rinat Akhmetov, majority shareholder of the company, set the direction towards European business standards. This drive includes three priorities. First, to be the best by safety for employees. Second, to reach European environmental standards.  And most importantly, to be the best by business efficiency to pay good salaries and contribute much to the welfare of our local communities", said Igor Syry, CEO of METINVEST HOLDING, at the signing ceremony for the social partnership agreement between Metinvest Group and Krivoy Rog.

The development of city infrastructure, health and safety, environment, education, sports and promotion of healthy lifestyle are major areas of social investments determined in the agreement. In 2012 Metinvest will invest around UAH 40 million in the region - almost twice as much as in 2011.

"Metinvest's plants based in Krivoy Rog have always cared for our city and worked extensively for many years to improve infrastructure in Krivoy Rog. Such big projects as reconstruction of Damanskiy residential area and Block 44 as well as construction of a recreation park in Inguletskiy district have certainly benefited our city a lot. This year our relationships will be more systematic. With this agreement we fix our mutual obligations to develop the city", said Yuriy Vilkul, Krivoy Rog mayor.

Igor Syry also says that Metinvest invested around USD 2 billion in modernisation of its businesses in Krivoy Rog and is set to invest another USD 3 billion over the next five years. Also, the company is going to increase consistently the funding and efficiency of social projects.

"Even in the tough crisis times we didn't stop funding of social programmes and, hopefully, can weather next oncoming wave of the crisis. We are consistent and responsible in meeting all the obligations we take," Mr Syry underlined.