OREANDA-NEWS. November 26, 2013. 2nd Murmansk International Business Week  opens in the capital of Polar region. The event is held with the support of Economic Development, Energy, Regional Development and Transport Ministries of Russian Federation and the Maritime Board of the Government of Russian Federation. Kola MMC (subsidiary of MMC Norilsk Nickel) is the general partner of the event.

The international forum program includes conferences, specialized exhibitions, round table discussions on development of energy sector, mining complex, small and medium business and international cooperation in tourism, investment policies and industrial production.

The event  started with discussions regarding revised 2020 and 2025 social and economic development programs of Murmansk region. The strategy assumes that Kola MMC will play a special role. In the coming years Norilsk Nickel’s subsidiary will implement a number of major investment projects, including transition of existing production facilities to electric nickel extraction technology, construction of own cobalt electrolyte production facility, treatment of acidic effluents formed during nickel refining process and modernization of crushing and screening section of the concentrator plant.

According to the first deputy Chief Engineer of Kola MMC – Pavel Egorov, in accordance with the new strategy, over RUB 13.5 bln will be allocated towards this four projects alone, during the next five years. Such major capital expenditures shall ensure stable employment of the local resident in the regions where the Company conducts its operations and shall also contribute towards development of such related industries as transportation, power and construction.

Murmansk business week will end on November 22 with an international conference on future prospects of the mining industry of Barents Euro-Arctic region, in which the representatives of Kola MMC will also participate. It is expected that over 800 representatives of both Russian and International (Finland, Denmark, Norway, UK, Germany, Canada and other countries) business and diplomatic communities will participate in the Business Week activities.