OAO Severstal CEO Alexey Mordashov has been awarded one of the highest honours of Latvia, the Cross of Recognition, Degree III, as recognition of his contribution to Latvia’s economic development. Latvian President Andris Bērziņš presented the award.
“I am honoured that our efforts have been recognized with such a prestigious award. We will work hard to continue to improve and strengthen the business and cultural ties between Russia and Latvia”, said Alexey Mordashov.
OAO Severstal is one of the major international investors of Latvia. The company’s subsidiary in Latvia is AO Severstallat, which is the region’s sole manufacturer of welded pipes and one of the largest businesses in Latvia. It ranks second across the country’s industrial companies in terms of production volumes and yields approximately 1% of the Latvian GDP. Since commissioning in 2001, Severstallat’s investment in Latvian businesses has reached approximately USD 50M. Over the same period, Severstallat’s tax contributions have exceeded USD 150M, of which USD 9M was paid in 2012.
OAO Severstal also supports a wide range of Latvia’s social and cultural projects. Since 2006, Severstal sponsored Golden Mask, a Latvian theatre festival, as well as numerous other cultural events including the premiere of Boris Eifman, a concert of the Russian National Philharmonic Orchestra. Severstal has also sponsored the restoration of the Fraternal Cemetery of Riga memorial as well as “The Monument to Liberators of Riga”.