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Basalt Projects Group signed Agreement on Participation in Construction of CBF and Composites Production Facilities in Saudi Arabia

The delegation of investors from the UK and representatives of Basalt Projects Group have signed an Agreement of Understanding aimed at building a plant for manufacturing continuous basalt fiber (CBF) and continuous basalt fiber reinforced composites in Saudi Arabia. The estimated capacity is 5,000 tons per year.

Hosted by the Basalt Projects Group, the British delegation visited Russia on August 24-26, 2015. The purpose of the meeting was to familiarize the participants with the Russian second generation CBF production technologies.

After visiting the head office in Moscow, the delegation was graciously received by the LLC Russian Basalt (Chelyabinsk). The visit took place in the framework of cooperation in the field of industry development.

The meeting and signing the Agreement for Cooperation between Basalt Projects Group and British investors are the first step towards the establishment of partnership relations and further cooperation.

At present, the negotiations focused on attracting more investors in the project are going on.

Basalt Projects Group (Russia) is a company, offering complete solutions for the construction of continuous basalt fiber (CBF) production facilities and implementing projects of any complexity on a turnkey basis.

Companies: Basalt Projects Group, Basalt Technology UK, Russian Basalt (Meltrock)

Persons: Malcolm Newton, Maxim Chernykh

Industries: Construction

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