OAO NGK Slavneft and Government of Yaroslavl Region signed 2012 Cooperation Agreement

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24 february 2012

OAO NGK Slavneft and Government of Yaroslavl Region signed 2012 Cooperation Agreement


Yury Sukhanov, President of OAO NGK Slavneft and Sergey Vakhrukov, Governor of the Yaroslavl region, have signed the additional protocol to the basic long-term Cooperation Agreement determining the key actions and cooperation parameters for the regional social sphere development in 2012.

 According to the document, the Slavneft Subsidiaries operating in the Yaroslavl region plan to allocate over 244 mln rub. for the social support of their employees. These funds will be used to fulfill the social obligations to the employees under the effective collective agreements, provide them and their family members with health resort treatment, and carry out cultural and sport events. A significant part of the amount allocated is designated to finance voluntary medical insurance and health resort treatment programs, and to replenish savings in the Non-State Pension Fund. 

In 2012, Slavneft plans to allocate the total of 78.5 mln rub. for implementation of charity projects in the Yaroslavl region. According to the local authorities' proposal, the Company's social investments will be targeted to upgrade the inventory and equipment of educational, medical and other social institutions, support and develop mass and professional sports, finance programs of the children's charity funds.

 OAO NGK Slavneft regularly signs long-term cooperation agreements with the local authorities of the regions where the Company performs its activity. These basic documents determine the main principles, forms and priorities for the parties' cooperation in the economic, financial and budgetary, environmental and social spheres. The parties agree and set forth certain cooperation parameters, including the corporate obligations on financing the socially viable actions and projects, in annually signed agreements. Over the last three years, Slavneft invested over 260 mln rub. in the Yaroslavl social sphere development under the agreements specified.