With the reference to information published in newspaper “Bizness & Baltija” issued on March 23, 2007, we inform that preparation of the modernization process in JSC “Liepajas metalurgs” goes on already for a long while but calculated costs, because of rise of prices and rise of necessary work amount, of this process during the last meetings were about 250 Mio EUR. During the last meeting there were discussed the questions regarding the Project of the agreement and technical specifications. We made the competition between 12 European banks to get the financing for the realization of the Project.