The Board of Directors of Metallurgical Works of Asha has decided to adopt the Development Program for 2006-2010. The company is planning to raise the steel and production and increase its authorized capital as well as restructure the management. This will require a number of steps to be taken. In 2006, the continuous steel casting line will be installed, alongside with the development of a business plan targeted at renovating the Martin furnaces and assembling the high-voltage lines and an electric furnace. In 2007, the steel casting technology will have been fully adopted and the high-voltage lines and an electric furnace will be under construction. In 2008, the lines will have been put into operation, which will provide for the plant’s own electricity and electric furnace steelmaking as well as renovation of the rolling industry. In 2009 and 2010, steel will start being produced in the electric furnaces, and the company will enter the foreign markets with its slabs. All this should raise the company’s output from 650,000 tonens in 2006 to 800,000 tonnes in 2009.

As for the management structure, more joint ventures will be set up for sales in different Russian regions and for providing the works with scrap metal; besides, some of the company’s departments will become independent subsidiaries.