According to the region economic development program, the construction and commissioning of the plant to produce basalt heat-insulation boards are scheduled to take place until 2020. Manufacturing facilities are expected to be located in Teykovo District, and the project should be implemented with the direct support of Teykovo city administration and the government of the Ivanovo region,
Thermal insulation made of basalt fibers is increasingly used in construction as a material, well combining excellent thermal insulating and fire retarding properties. Thus, thermal insulation materials of mineral wool have been used in the construction of the Evolution tower, which is part of the Moscow City complex of buildings. They are able to withstand the temperature up to 1000 °С, thereby can prevent a flame from spreading in case of fire.
Taking into account project drivers, which include a basalt fiber insulation plant, the municipality plans to increase the volume of investment in fixed assets by 42.6% as compared to 2014 figures.