The Steelworks from Niksic increased the production of steel for 40% in the first five months of the year, and production of goods for 73% in comparison with the same period last year, said president of the Board of directors of the factory, Arsenije Jovanovic. At today#s press conference he said that the realization of the production program during the same period was increased for 50%, and that the Steelworks# experts already made the development plan for modernization of the plant. "The development plan consists of two parts that include modernization of the expert plant of the steelworks for which it would be necessary to provide 24 million USD, while the other is the modernization of the rolling mill which would need about 17 million USD," said Jovanovic. The Steelworks ended last year with the deficit of about 10 million USD. "The support of the state is necessary for realization of these plans, above all the support of the Government of Montenegro, since the Steelworks cannot finance the modernization project," said Jovanovic. It was also said that the priority task in the forthcoming period would also be the efforts in privatization process in order to provide the conditions for influx of foreign capital.