A Thermal Insulation Factory which is going to produce insulation materials based on basalt fiber or rock wool will be put into operation in spring 2016.
The investor in the factory construction is “TekhnoNIKOL” holding, specialized in waterproofing, roofing, and thermal insulation products.
Production facilities are located within the Territory of Priority Socio-Economic Development (Accelerated Zone) “Rakitnoe”, and the total amount of investment in the new production raised from “TekhnoNIKOL” has amounted to 1.8 bln rubles. It is planned to annually produce about 700 thousand cub. m. of basalt fiber insulation, using gabbro-basalt raw materials.
The countries of Central Asia and especially China are considered the most promising in terms of exports, according to the factory management. However, the builders from the Far East and Siberia are going to be the main consumers on the Russian market.
Export plans of Khabarovsk manufacturers for the next 5 years are based on the global forecasts and rapid growth of basalt fiber market and products in Asia. For instance, China demonstrates a steady annual growth of 9%, which fully conforms to the global trends.
As a reminder, in September 2015 JSC “Basalt Projects” representatives visited China on the invitation sent by both the Investment Fund and a number of Chinese province governments. Following the meeting, the preliminary agreement on cooperation in the framework of basalt industry projects was reached.