SYKTYVKAR, April 18. /TASS/. The AEON Corporation and its subsidiary Vorkutaugol built up investments in social development of polar Vorkuta in the Komi Region by 18.5 times, to 721 million rubles ($9 million) over 2.5 years. Komi's Acting Governor Rostislav Goldstein and the corporation's founder Roman Trotsenko agreed to continue cooperation in Vorkuta's economic and social development, the governor's press service said.

"Right now, Vorkutaugol is implementing unprecedentedly big projects to improve and develop infrastructures in the city, which has received the landmark status of an Arctic backbone city. After the city-forming enterprise's owner changed three years ago, the responsibility for miners and their families, residents of Vorkuta, has reached a new level. By 2024, the financial support for the city increased by more than 18.5 times against similar past periods to more than 721 million rubles over 2.5 years," the press service said.

More than 340 million rubles ($4 million) of those funds were allocated to social projects and charity in 2024. Under the cooperation agreement between Vorkutaugol and the Komi Region's government, the company has initiated buying and installing eleven playgrounds and a carousel, started building the Timansky Ravine landscape park, the parties have bought a festive New Year's town and illumination, dismantled outdated residential buildings and completed a unique landscaping project, equipped swimming pools at kindergartens, bought buggies for school students, restored student workshops of the Vorkuta Arctic Mining and Polytechnic College.

Under separate agreements with the regional government, 37.4 million rubles ($455,000) have been allocated for upgrade of the Vorkuta airport's runway and apron. Financing has been allocated for the Usinsk water pipeline design.

"The scale of Vorkutaugol's social investments in Vorkuta is impressive," the press service quoted the acting governor as saying. "Our strategic partner makes a true contribution to the well-being of the city and its residents. We appreciate this approach and will continue to work together with the company to achieve common goals to improve the quality of life in the Arctic."

Vorkuta is a city with a population of 57,000 people, one of the 16 backbone territories in the Russian Federation's Arctic Zone. About 6,000 residents are employed with coal mining and auxiliary industries of the Vorkutaugol city-forming enterprise, which since 2021 is part of AEON Corporation's Russian Energy Company. Prior to that, the coal asset was owned by Severstal.