Coal company's investment in Vorkuta development grows by 25 times over 3.5 years
SYKTYVKAR, October 6. /TASS/. A coal producer, Vorkutaugol, increased investment in development of Vorkuta in the Komi Region by 25 times, to 780 million rubles over recent three and a half years. Run by new owners, Vorkutaugol implements large-scale landscaping, infrastructure and social projects in the city, the company told TASS.
"By 2025, financial investment in Vorkuta has increased by more than 25 times against previous periods and to more than 780 million rubles ($9.5 million) over three and a half years, where only during 2024 - 2025 under a cooperation agreement with the Komi Region and at Vorkutaugol's initiative, the company has allocated more than 500 million rubles ($6.1 million) for landscaping, infrastructures, social projects and charity," the company told TASS.
Under other agreements with the regional government, the company has invested 37.4 million rubles ($457,000) in upgrade of runway and apron at the Vorkuta airport, in design of the Usinsk water pipeline, which supplies water to Vorkuta and nearby villages. The pipeline's deterioration has been a long-standing problem in Vorkuta, and now the authorities and the company cooperate to settle it.
Vorkuta is a city with a population of 57,000 people, one of 16 backbone territories of the Russian Federation's Arctic Zone. About 6,000 residents are employed in coal mining and in auxiliary industries of the Vorkutaugol Company, which has been part of the AEON Corporation's Russian Energy Company since December 2021. Earlier, the coal asset was owned by Severstal.
