Integrated Metallurgical Complex of Nizhny Tagil (NTMK JSC), member of Evraz Group, is preparing to put into operation a new circulation vacuum vessel at its oxygen-converter plant. The vacuum vessel is used to remove detrimental gases from molten steel. NTMK has already received the vacuum vessel equipment by now. The German company SMS-Mevac has completely fulfilled its liabilities under its contract with NTMK. However, NTMK is going to manufacture some necessary units and the teeming ladle cars for the vacuum vessel on its own. Now the builders are completing the installation works.

On May 17, 2006, Sverdlovsk Regional Court of Arbitration adjudicated the claim laid by Koltsovo Airport JSC against Ural Airlines JSC. The airport demanded that Ural Airlines and the plaintiff sign the contract of handing over some socially important establishments to Yekaterinburg municipality and bear expenses of the handover on a pro rata basis. The plaintiff’s claim is based on the total privatization plan designed in 1993 during the privatization of the state enterprise Sverdlovsk Airline and its further disintegration into Koltsovo Airport JSC and Ural Airlines JSC. As a result, the

Shareholders of power generating company OGK-2 and of water power plant approved of the amendments to OGK-2 Charter proposing a merger with GRES generating company on May 15, 2006. The amendments state that OGK-2 takes on full liabilities and rights of the latter, including the ones concerning debtors and creditors, form the moment the merger has been completed. OGK-2 currently includes water power plants of Pskov, Stavropol, Surgut (a 100% share holding), Troitsk (fully controlled by GRES generating company), and Serov. GRES has recently gone through a public offer of 17,285.574,300 ordinary

Dukkerhoff AG of Germany decided to construct two cement production lines for SuholozhskCement JSC. The launch of the first line in 2007 will allow the company to raise its cement output by 1.3m tons a year and thus produce up to 3.6 million tons annually. The second line (to be launched in the beginning of 2008) will make it possible to further increase the cement output by another 1.3m tons. The total investments will come to $150m. The project was discussed at the meeting of Sverdlovsk Region Governor Eduard Rossel with management teams of both German and regional cement producers. The new

Integrated Metallurgical Complex of Nizhniy Tagil (part of Evraz Group) started rearranging its railways due to No. 5 blast furnace construction currently in process. The furnace will be put into operation in the second half of 2006 and should change the way the intramural railroad network is used, so the company now has to have some 700 meters of new railways and 8 points to make sure the furnace is supplied with coke and the converter shop with iron 24/7. According to the company’s spokesperson, the reconstruction project was designed last winter and the work started as soon as it was warm

Integrated Metallurgical Complex of Nizhny Tagil (NTMK JSC), member of Evraz Group, renews the equipment of its man-caused formations processing shop. According to NTMK PR-department, two new forklift trucks and a Komatsu bulldozer have already been delivered to the processing shop, and the company is going to receive one more Komatsu calfdozer before the end of 2006. NTMK is also going to replace the specialized magnetic grab crane. The renewal of the specialized motor-vehicle pool is intended to reduce the repairs and preventive maintenance stoppages of the company’s man-caused formations

The total heat energy debt of Pervouralsk public utilities and private consumers to Sverdlovsk Public Supply Systems (SKS JSC) has reached 40.9m RUR, reports PR-department of SKS JSC. This debt comprises the debt of manufacturing enterprises (2.778m RUR) and of the local housing and communal services (.421m RUR). The organizations financed by the municipal budget owe 2.76m RUR to SKS JSC, whereas the debt of the local haulers comes to .964m RUR. There remain considerable arrears of compensations of price reduces for private consumers (4.593m RUR as of May 1, 2006). The amount of private

A meeting of Governor of Sverdlovsk Region Eduard Rossel with President of Austrian Airlines Josef Burger and a group of Austrian journalists was held on May 16, 2006. During the meeting, Mr Burger indicated that the flights of Austrian Airlines launched in April 2006 are in great demand and that Sverdlovsk Region does have a lot of opportunities for doing business.

The executives of Integrated Metallurgical Complex of Nizhny Tagil are taking part in the workshop devoted to rail service durability that started in Yekaterinburg on May 16, 2006. Ural Institute of Metals, a state Russian scientific center, runs the workshop and provides for reports by Deputy Head of Integrated Metallurgical Complex of Nizhny Tagil’s Central Laboratory Vladimir Matveev, reports the company’s spokesperson. The Complex produces 250,000 to 300,000 tons of rails annually, mainly for the Russian Rail and partly for the countries of the NIS and the EU. The produce can boast a few

Following instructions from RosTelecom JSC, Yekaterinburg subsidiary of UralSvyazInform JSC will be disconnecting users owing them money for long-distance and international calls between May 16 and May 23. The procedure provides for several stages: firstly, about 4,000 users will be disconnected on May 16, and then 300 businesses with greatest debts will be disconnected on May 17. After that, all the other debtors (legal entities with debts over 300 RUR and natural persons with debts over 50 RUR) will be gradually being disconnected during the remaining several days. Some 20,000 natural

Annual shareholder meeting of Chelyabinsk Mains JSC will be held on June 13, 2006. The points on the agenda include agreeing on the company’s financial achievements in 2005, P & L distribution, electing the Board and the inspection committee as well as the company’s Auditor. The shareholders will also have to agree to the amendments to the company’s Charter.

The Board of Directors of Chelyabinsk Electrometallurgical Industrial Complex JSC scheduled the annual shareholder meeting for June 29, 2006. The shareholders will have to decide on merging with Marganets Komi JSC and Vladprom and Co CJSC, approve of the annual report and the accounting report, including the P & L statement. The Board suggested that the shareholders pass the ordinary share dividend for 2005. The other points on the agenda include electing the GD, the Board, the inspection committee, and the company’s Auditor.

The Board of Directors of AKSI JSC scheduled the annual shareholder meeting for June 9, 2006. The points on the agenda include approval of the annual reports, profit distribution (including the declaration of dividends), electing the Board Members, the inspection committee, and the company’s Auditor.

European Aerospace and Defense Syndicate (EADS, Munich-based producer of civil aircrafts) signed a long-term agreement on supplying titanium produce for Airbus aircrafts production with VSMPO-AVISMA Corporation JSC today. The contract is valid until 2011 and provides for the annual increase of supply in accordance with the needs of Airbus production. The total cost of the project is estimated to come to $1bn within five years, but this figure might rise significantly over the time. VSMPO-AVISMA Corporation will keep on supplying Airbus with the regular billets such as sticks, sheets, and

Market capitalization of Utair Airlines came to $180m in May 2006. According to the company’s spokesperson, their shares have been going up significantly since the beginning of the year. Thus, the price rose from 5.88 RUR per share on February 15 to 8.5 RUR on May 11. These results look even more impressive given that only two carriers (Aeroflot-Russian Airlines and Utair) are currently offering their shares on the Russian stock market. The shares are sold as TMAT on RTS stock exchange and as UTAR on Moscow Interbank Currency Exchange. One can also acquire the company’s shares in New York,

The Board of Directors of VSMPO-AVISMA Corporation JSC met on May 12 to schedule the annual shareholder meeting for June 28, 2006. The points on the agenda include agreeing on the annual report and the accounting report for 2005, profit distribution, electing the General Director, the Board of Directors, the Inspection Committee, and the company’s Auditor. The Board of Directors suggested that the shareholders declare the dividend of 37.88 RUR per share, which is 30% greater than in 2004. Among the proffered Board Members are Vyacheslav Bresht, Vasiliy Besedin, Dennis Kelly, Nikolay Melnikov,

Sverdlovsk Region subsidiary of TGK-9 is going to carry out the first stages of high-pressure pipelines testing on May 16 to May 18, 2006 in order to start preparing for the next heating season. The block pipelines will stop supplying hot water and will be tested from 9 AM to 6 PM on May 16, the backbone pipelines will be tested from midnight to 6 AM on May 17 and 18; hot water will still be available. The plan provides for seven stages of testing altogether, with everything completed by August 23.

Regional Duma Deputy and UralArm CJSC shareholder Vladimir Taskayev confirms investigative action concerning his company. ‘The company premises were searched on Friday night; I believe the whole thing has political lining,’ Mr Taskayev said.

‘The company is renovating a high-voltage line to the west of the city at the moment,’ reports their spokesperson. This is going to last until the end of the year, and in the meantime, the areas of Shirokaya Rechka, Medniy, Polovinka, Centralniy and some garden patches will have no electricity. The physiotherapy clinic and the hospital near Pond Glukhoy will have to use their own diesel generators.

Subsidiary of City Mortgage Bank Ltd. opened in Yekaterinburg on May 16, 2006. ‘Before entering the new regional market, we normally look at its development potential and the turnover of transactions. Yekaterinburg is currently one of Russia’s leading building industry areas, which is a very important factor for a bank like ours. It is here that we will introduce the ruble mortgage schemes; besides, we’ll be able to provide the most convenient kinds of loans,’ President Nikolai Schitov said at the press conference. ‘Our loan portfolio comes to over $120m, and we are planning on giving $80m