Vladimir Putin called for the sustainable development of the metallurgical sector of the country this week, noting the positive impact of more than $31.267 billion into the industry.
Putin spoke during a meeting in Magnitogorsk about the development of the iron and steel industry. He said that investing in the sector gives the country the opportunity to meet all environmental standards and requirements, Interfax reports.
“I remember when I visited (Magnitogorsk Iron & Steel Works) for the first time, it was in winter, the snow was all black,” Putin said, according to Interfax. “Today, the situation is not ideal, but it has nonetheless changed radically. I hope that colleagues at other major plants will continue efforts to improve the environmental situation.”
Putin noted the importance of investing so much money into the metallurgy industry in Russia.
“This means that owners, key shareholders are thinking about their employees, social problems, about the environment and about the sector’s future,” Putin said, according to Interfax. “I doubt that any neighboring countries, where the metallurgical industry has also always been a significant part of the economy, saw such an investment boom.”
Putin said that by supporting metal companies with policies like government guarantees even during the global crisis, the industry can continue to develop.
“Today the goal and objective is to achieve stable development in the sector,” Putin said, according to Interfax.