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Our current product line is primarily a series of medium voltage switchgears suitable for a wide range of applications across the electrical power distribution industry. According to a recent report from the China State Development and Reform Ministry, during 2007 China will launch the country's Eleventh "5-Year Plan" for economic development. As part of this Plan, the Government will invest the equivalent of approximately US$110 Billion towards the expansion and reconstruction of the country's electrical power network. Two-thirds of this budget (valued at in the range of US$65 Billion) is expected to be invested in the medium voltage network system (less than 35 kV) through the year 2012. Medium voltage infrastructure components constitute our Company's main product niche.
To meet the pending challenge of obtaining a larger market share from supplying the booming domestic electrical infrastructure market under the economic development stimulus of the Chinese Government's 11th "5-Year Plan", it was critical for the company to improve its production capacity. The result is Asia Electrical's new Industrial Park, which is now in the final stages of construction and is scheduled for completion next fall. Comprising manufacturing facilities totaling more than 300,000 square feet, this Industrial Park was designed to deliver more comprehensive production scope through an enlarged physical plant housing improved machinery and equipment as well as greater personnel resources. In launching this expansion project, management's goal has been to significantly enhance the Company's manufacturing capability in order to satisfy the expected increases in sales. We expect these increases to result from emerging sales opportunities over the next 5 years.
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