NLMK is the principal taxpayer in the Lipetsk region. In 2007, tax and other compulsory payments made by NLMK to the Lipetsk regional consolidated budget amounted to over RUR 11 billion (c. US$ 433 million). This was nearly 38% of total tax revenues for the city of Lipetsk, and nearly 45% of the Lipetsk regional consolidated budget.
Total investment into NLMK’s social programs in 2007 amounted to over RUR 1.66 billion.
NLMK constructs approximately 30,000 sq. m of apartments each year for its employees in Lipetsk. Between 1997 and 2007 the company built 384,000 sq. m of apartments in total. At the beginning of 2008 NLMK won a municipal auction to develop land at two locations in Lipetsk. 385,000 sq. m of apartments, schools, kindergartens, and an outpatient department will be constructed over a 49 hectare area.
NLMK has increased wages at an annual rate of between 25% and 30% over the last four years. NLMK’s a non-state pension fund established by the company, Sotsialnoe Razvitie NPF (or “Social Development”), ranks 25th in Russia by volume of assets.
Novolipetsk Steel supports various sports organizations and has set up an Olympic Shooting Complex in Kon’-Kolodez’ village in the Lipetsk Region. The company has equipped 52 sports grounds in Lipetsk and also supports educational initiatives providing bursaries to students at higher education institutes.
