MMK Directs RUR 2.2bn to Social Projects

15 March 2018 (11:22)

UrBC, Yekaterinburg, March 15, 2018. MMK Group directed around RUR 2.24bn to charity and social programs last year, which exceeded the figures for a year earlier by 4%, the company press service reports.

RUR 1.4bn came from Magnitogorsk Iron & Steel Works (MMK) itself; the company is now among Russia’s corporate social responsibility leaders in the mining and metallurgical sector, with SCR spending at RUR 42,700 per worker on average last year.

MMK and MMK Group’s member organizations allocate funds for a wide range of charity and social programs that cover nearly all aspects of employees’ lives and apply to retirees and old-service employees as well. MMK Group typically focuses on social support of its retired ex-workers, people with disabilities, and other vulnerable groups. The company directed nearly RUR 300m for the purpose in 2017 (with MMK providing RUR 204.9m).

The plant also has a budget to cover its workers’ medical bills and to coordinate a number of healthcare programs. MMK Group allocated RUR 500m for the purpose last year; around RUR 450m got spent on healthcare services for the plant employees and their families. The plant also makes an effort to promote a healthy lifestyle and sports, with RUR 113m allocated for the purpose in 2017.

Other materials on the topic::