Ru En

Acron Group’s Subsidiary Transfers RUB 99 million to Apatity Administration Under Social and Economic Partnership Agreement

Mining Company Partomchorr (an Acron Group subsidiary) transferred RUB 99 million to the city of Apatity for social and public infrastructure improvements. The payment was made under previously executed agreement on social and economic partnership, collaboration and cooperation.

Apatity plans to use RUB 17.6 million of the total to improve financial and technical support of its educational institutions and to upgrade facilities in schools and kindergartens.

Other plans include construction of a Sports and Recreational Centre and upgrades to the front of the Athlete swimming pool, one of the main sports facilities in Apatity, in order to increase the number of city’s sports facilities and promote sports and healthy lifestyles. These investments will cost RUB 52.2 million.

The city will use RUB 16.8 million of the partnership money for road improvements to meet safety requirements, including pedestrian areas.

Some of funds allocated under the 2018 social and economic partnership agreement were used to upgrade street lights in a number of the city’s districts. RUB 10.2 million has been set aside for additional lighting upgrades planned for 2019.

Partomchorr Mining Company is developing the Partomchorr deposit in Murmansk region under a licence transferred to the company in 2016. Initially, the licence to develop the deposit was obtained by North-Western Phosphorous Company, a member of Acron Group, in 2006.