It is part of the projects that are being implemented according to the regional industrialization of the Almaty region under the State program of industrial-innovative development of Kazakhstan.
Experts have repeatedly mentioned the rich basalt deposits in Kazakhstan. And “Basalt-NPA” LLC is not the only company specialized in basalt fiber.
Located in the city of Taldykorgan, “ST BEST” LLC produces insulating materials based on basalt stone wool. The company’s products are used for the insulation of pipelines, equipment, and in construction work. In 2016 “ST BEST” received government support, which helped the company to purchase new equipment and to launch additional facilities.
Kazakhstan is interested in attracting foreign investments, so they created attractive conditions to support international investors. According to the Entrepreneur Code of the Republic of Kazakhstan, foreign businessmen investing in the priority sectors of the Kazakh economy are exempt from corporate income tax and land tax for a period of 10 years, and after putting the facilities into operation the capital expenses will be reimbursed up to 30%. In addition, they plan to enlarge the list of visa-free countries for foreign investors to 54 countries in 2017.