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Nornickel to provide $2bn for Norilsk’s development
Norilsk, Krasnoyarsk Krai, Russia.
(Image by Ninara, Flickr).
Russia’s Norilsk Nickel, the world’s largest producer of palladium and nickel, announced the launching of a $2 billion program to support the city of Norilsk, located above the Arctic Circle and which hosts the company’s main industrial campus.
According to the miner’s CEO, Vladimir Potanin, the program involves four parties, including Norilsk Nickel, the federal government and regional authorities. The idea is for it to be introduced before 2024.
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The funds will be used to launch social initiatives that promote enrollment in the Norilsk State Industrial Institute, as well as projects to build new housing for the city and advance infrastructure enhancements and renovations such as the refurbishing of unused factories and abandoned apartment buildings.