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Metinvest to Increase Investments in Krivoy Rog
04/05/2012 - Metinvest Group and the municipality of Krivoy Rog signed an agreement to jointly solve key social issues. The volume of investments in 2012 will comprise nearly UAH 40 million, almost double that of 2011.
Metinvest Group and the municipality of Krivoy Rog signed an agreement to jointly solve key social issues. Areas of investment stipulated in the agreement include development of the city infrastructure, health care and environment, education quality improvement, mass sports development, and health promotion.
The volume of investments in 2012 will comprise nearly UAH 40 million, which is almost double that of 2011.
The agreement determines mutual obligations of the company and the municipality to provide better conditions for Krivoy Rog development, creation of comfortable living conditions for people, and business development.
“Major shareholder of the company, Rinat Akhmetov, set the direction towards the European standards of doing business. These include three key priorities. First, become the best in labor safety assurance; secondly, achieve European standards in ecology and protection of environment. And, mainly, become the best in business excellence in order to be able to pay decent salaries to the employees as well as to contribute actively into improving the welfare of the regions of our presence,” said the CEO of Metinvest Holding, LLC, Igor Syry.
Syry also noted that in the past five years Metinvest has invested around $2 billion into upgrading its enterprises in Krivoy Rog and intends to invest another $3 billion during the next five years.
