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Tripartite Agreement on the Development of Housing Construction in Berezniki Signed

06.12.2013
Tripartite Agreement on the Development of Housing Construction in Berezniki Signed

On 5 December 2013 Uralkali (LSE: URKA; the Company), the Government of the Perm Region and the Administration of the town of Berezniki signed an agreement outlining the financing plan for the period between 2013 and 2015 for the relocation of people living in inadequate housing facilities in Berezniki, including the construction of new infrastructure facilities and demolition of the vacated buildings.

The agreement will be effected pursuant to the state programme on “Securing quality housing and facilities for the citizens of the Perm Region” and is in line with the decisions adopted by the Governmental Commission on 24 May 2013.

In line with its commitment to corporate social responsibility, Uralkali has undertaken to provide to the Perm Region and the town of Berezniki a total of RUB 2,539,684,100 (approx. USD 76.7 million), payable in installments by 1 August 2015, including approximately RUB 300 million already disbursed by Uralkali in July 2013. A similar amount will be paid to Berezniki from the budget of the Perm Region.

The implementation of the state programme will significantly improve the Berezniki housing stock, whose quality is deteriorating due to general wear and the consequences of the flooding of Berezniki-1 mine in 2006.

Viktor Belyakov, acting CEO of Uralkali, said:

The signing of the agreement with the Government of the Perm Region and the Administration of Berezniki is an important step in improving the housing construction in this town, where many Uralkali employees were born, grew up and currently reside. Under the agreement, the town will receive over RUB 5 billion, including Uralkali’s funds, by the end of 2015. I am confident that these funds will enhance the quality of housing in Berezniki and give a new impulse to its development.

On 25 November 2013, Uralkali presented a master plan for the development of the Berezniki-Solikamsk agglomeration. The master plan, prepared by German architects, is among the first such documents in Russia and envisages creation of a new modern model of urban development while at the same time preserving the distinct historical and architectural character of the towns of Berezniki, Solikamsk and Usolye

Uralkali (www.uralkali.com) is one of the world’s largest potash producers with a share of about 20% in global potash production. The Company’s assets consist of 5 mines and 7 ore-treatment mills situated in the towns of Berezniki and Solikamsk (Perm Region, Russia). Uralkali employs ca.11,800 people (in the main production unit). Uralkali’s shares and GDRs are traded on the Moscow Exchange and LSE, respectively.

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