MURMANSK, May 18. /TASS/. The Kola Mining and Metallurgical Company (the Murmansk Region, a part of Nornickel), which produced nickel and copper, and which is Russia’s only producer of electrolytic cobalt, is working on the production modernization, which is worth 25 billion rubles ($400 million), press service of the Murmansk Region’s government said on Friday following a visit to the Kola MMC of the Presidential Envoy to the North-Western Federal District Alexander Beglov.
"The modernization is underway at all the facilities, and the total investments in the projects are about 25 billion rubles," the press service said.
Kola MMC is reconstructing the production to cut impacts on the environment and to improve the ecology situation, to raise the production’s economic effectiveness, competitiveness and sustainability.
The key project is implementation of a brand-new, modern highly effective technology of nickel refining. This technology was created by Nornickel, and it is being implemented now at the company’s enterprises. The technology’s final result would be cut operational expenses and emissions.
The presidential envoy pointed to the company’s social responsibility, to its input in the region’s social and economic development. "In addition to the main activities and to paying high taxes both to the local and federal budgets, the company is solving social problems," the press service quoted the official as saying. Those are projects "in healthcare, sports and culture - they are playing an important role in development of the Murmansk Region."