OREANDA-NEWS. November 28, 2012. EuroChem announced that it has reached a framework investment agreement with the Kingisepp city administration for the construction of a hockey arena. Under the investment agreement, the parties agree to provide all necessary assistance for the construction of the sports and recreation centre by late 2014.

The future arena’s design will emphasize both functionality and overall community integration. With a seating capacity of 311, the arena will be the prime venue for hockey and figure skating competitions throughout the year. The project also includes the establishment of a SKA St Petersburg Hockey Club children’s and junior sports school of Olympic reservists with SKA management to provide coaching courses. The total project’s budget is estimated at between 220 and 250 million roubles.

“Today’s agreement is another milestone in the implementation of this project”, commented Vladimir Yerlykov, Phosphorit Executive Director, before adding “We have already done a huge amount of work together, thanks to which we will obtain the 2013/2014 budgeted co-financing from the Sports Ministry. In any case, already this month we are starting to prepare the site for the project development.”

“I am grateful to EuroChem for contributing to the development of sports in our region,” said Victor Geshele, Head of the Kingisepp Municipal District Administration, “and it is a privilege to sign this agreement as we have been dreaming of a hockey arena for so many years. We have already reached an understanding on co-financing from the federal budget and the Vice-Governor of the Leningrad Region has assured us of his support for our project.”

The ice sports programme is delivered by an efficient public-private partnership using a co-fi nancing model. Russia’s Ministry of Sport, Tourism and Youth Policy includes the EuroChem ice sports facilities under construction on its list of projects eligible for federal financing. At regional level, regional governments transfer budget subsidies to municipal authorities and provide administrative support. EuroChem and municipal authorities then build the facilities in accordance with existing investment agreements.

Under this initiative, EuroChem aims to promote and facilitate opportunities to play ice sports for children, its employees and the communities in the towns where it operates. In 2011, two out of six facilities under the programme (a hockey stadium in Kovdor and the ‘Yubileyny’ hockey arena in Novomoskovsk) were successfully built, with another arena planned for Nevinnomyssk, in addition to this project in Kingisepp.