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Nornickel's investments in social projects in 2018 to remain at current year level

October 19, 2017, 18:17 UTC+3 SOCHI

Norilsk Nickel the world’s largest producer of nickel and palladium

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SOCHI, October, 19. /TASS/. Russia's mining and metallurgical company Norilsk Nickel (Nornickel) does not expect changing a lot investments in social and sports projects in the coming year against the current year's investments of about 25 billion rubles ($435 million), the company's Vice President Elena Bezdenezhnykh told TASS on Thursday.

"As for the investments (in 2018 - TASS), we do not think they will change a lot, as we still have social, housing, children's, medical, cultural and sports programs," she said on sidelines of the World Youth Festival in Sochi. "Some of them are under intergovernmental agreements of the public-private partnership, some - are a collective agreement."

"Thus, we do not plan the sum will change greatly," she added.

In 2016, she continued, Nornickel spent more than 23 billion rubles ($401 million) in support for social activities, clubs and social events, for payment of various grants. The shareholders have a responsible attitude towards support for social projects, she said.

"They realize it is necessary to support the territories, where our enterprises are working, they realize that support for sports, environment, youth movements is simply necessary to have our enterprises in future develop effectively and competitively," she added.

Russia hosts the world youth forum from October 14 through to October 22, 2017. TASS is the general information partner and an official photo host.

Norilsk Nickel

Norilsk Nickel is a Russian diversified mining and metals company, the world’s largest producer of nickel and palladium and a major producer of platinum, cobalt, copper, and rhodium. The company produces also gold, silver, iridium, osmium, selenium, ruthenium, and tellurium. The share of Interros owned by Vladimir Potanin in Norilsk Nickel is 30.3%, Oleg Deripaska’s Rusal owns 27.8% in the company, Evraz co-owners Roman Abramovich, Alexander Abramov and Alexander Frolov control about 6% of the company.

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