On September 28, 2007 Joint-stock company “Liepajas metalurgs” contracted the cooperation agreements with “SIEMENS VAI Metals Technologies GmbH”, JSC “Augstsprieguma tīkls” un “ABB Power Systems-FACTS” on further modernization of the existing steel works and equipment delivery. For the present still open are the financial topics and although the attraction of the funds is in process, it could run through the second half of the next year. Because of possibility that the value of whole deal during the process could be changed, concrete value may be mentioned only after the end of the finance attraction process.