MMK Group Directs RUB 2.5bn to Social Welfare Programs

22 February 2019 (09:17)

UrBC, Yekaterinburg, February 22, 2019. Magnitogorsk Iron & Steel Works (MMK) Group directed nearly RUB 2.5 billion to social welfare programs and charity projects last year, which exceeded the figures for the year 2017 by 11%.

According to the Group’s Information & PR Department, the company allocated more than RUB 1.6 billion to social welfare programs, with a focus on the employee healthcare projects. The Group directed around RUB 425 million to a number of medical programs and covering the workers’ medical bills in 2018; Magnitogorsk Iron & Steel Works provided about 50% of the funding.

Another RUB 428 million went to covering employees’ and their families’ stays at health resorts and sanatoriums; RUB 54.7 million got directed to covering children’s camps and children’s health resorts. Additionally, MMK promotes a healthy lifestyle, fitness, and sports among its workers: RUB 130 million got allocated for the purpose last year.

The Group’s social welfare and charity projects involve not only the company’s current employees but former workers and retirees as well. The Group makes a point of supporting pensioners already out of the workforce, people with disabilities, and other socially vulnerable groups. MMK allocated RUB 322 million for the purpose last year, including RUB 229 million worth of its own funds.

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