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TMK and Sinara Group participate in St. Petersburg International Economic Forum

TMK and Sinara Group took part in the St. Petersburg International Economic Forum (SPIEF 2021). The leaders of the two companies discussed the outlook for the metallurgical and mechanical engineering industries, international cooperation, the transition to a green economy as well as their HR and ESG strategies, and held talks with partners from industry and finance and representatives of regional authorities.

An agreement between TMK and Rosneft regarding the supply of metal products for the Vostok Oil project was announced at the forum. The agreement was signed by LLC Vostok Oil (part of Rosneft Group) and LLC Sinarastroikomplekt (a Sinara Group subsidiary).

Sinara Group was equally productive, signing a number of deals to finance and implement major transport infrastructure development projects. The Group signed memoranda of understanding with Otkritie Bank and Sberbank, letters of intent with RZD and RUSNANO, a separate agreement with RUSNANO to form TECHNOMOTION FUND, a private equity fund, and an agreement with the state corporation VEB.RF to finance the upgrade of the Taganrog tram network. Sinara Group also signed a memorandum with Siemens Mobility to found a joint venture that will provide maintenance services for rolling stock, as well as a cooperation agreement with the Rostov Region government.

Dmitry Pumpyanskiy, Chairman of TMK’s Board of Directors and President of Sinara Group, participated in the Investment Attractiveness and Export Potential of Strategically Important Industries panel discussion held as part of SPIEF 2021. He took the opportunity to invite the government representatives present to extend the planning horizon for investment programs at state-owned companies, as well as to stimulate the growth of exports of high-tech products. At the Russia–Germany business dialogue session, he also shared TMK and Sinara Group’s experience working together with German companies.

Igor Korytko, CEO of TMK, also took part in several sessions, including the Pandemic as a Catalyst for Sustainable Development Through the Incorporation of ESG Principles and New Challenges for the Green Economy: Could the Crisis Delay the Inevitable?, where he shared the Company’s ESG practices. During the Corporations and Employees: How to Manage Human Capital in a Post-COVID World discussion, Mr. Korytko explained how the Company organized work during the pandemic and discussed the benefits and shortcomings of working from home.

On the sidelines of SPIEF 2021, the management teams of TMK and Sinara Group held business meetings with the heads of a number of Russian regions, major energy and mechanical engineering companies from Russia and abroad, Russian and international banks and insurers, and other forum attendees.

The St. Petersburg International Economic Forum (SPIEF) has been held annually since 1997, and since 2006, it has been held under the auspices of the President of the Russian Federation, who has also attended each event. SPIEF has become a leading global platform for representatives of business to discuss the key economic issues facing Russia, emerging markets and the world more broadly. In line with tradition, in 2021, its business agenda was dedicated to the Russian and global economies, social issues and technological advances.