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Yenakiieve Iron and Steel Works signed agreement for the social and economic partnership with the town

7 March 2012

For the first time Yenakiieve Iron and Steel Works, Metinvest Group, has signed the agreement «Town-Works» on social and economic partnership for 2012 between the Works management and Yenakiievo Municipal Council. This bilateral agreement specifies the fundamentals, forms and trends of cooperation, and also mutual liabilities of the Parties regarding social and economic development of Yenakiievo.

According to this document the cooperation between the Administration and Business in Yenakiievo will be focused on the following promising trends: municipal infrastructure development, Health Care and Environmental Protection, Educational level improvement, and also popular sport elaboration and a healthy lifestyle promotion. This cooperation will be performed in the framework of the mutual programmes, projects and activities, which will also engage the local community.  

«Town-Works» agreement fundamentals are based on the voluntary participation of the Parties and their equal partnership. During the projects approval attention will be drawn to the consistency of the approaches for the determination of the priorities for the town development, long-term intentions and joint activities, and also to the publicity and the transparency of the cooperation.

«Yenakiieve Steel, as the main employer and socially conscious enterprise, is always actively involved in the welfare improvement of Yenakiievo and its citizens, - noted Aleksandr Podkorytov, PJSC Yenakiieve Steel General Director. – However, the social funding approach was discrete with a limited range of social models – charity, sponsorship, targeted social assistance. In such unauthorised processes, the efficiency estimation method of the projects under implementation was poor. Currently, due to METINVEST regional partnership programs, the unified and transparent rules for the local communities support are being developed, that will bring significant social benefits».   

It should be noted, that Yenakiieve Steel invests the funds at the socially important municipal projects. In 2011 the total Works social funding for Yenakiievo amounted to more than UAH 3.5 mln.