North Ossetia (Russia) to build a basalt manufacturing facility

Projects of facilities to manufacture basalt products and basalt heat insulation materials based on thin basalt fiber were presented during the Investment Forum, which took place from September 29th till October 2nd in the city of Sochi.

The projects offer to use basalt developed in the Alagir District as a raw material. This District contains the largest reservoirs of basalts in the Republic. The Project “Manufacture of basalt products near the Zaramag field in the Alagir District” is estimated at 911 million rubles, and the cost of setting up the manufacturing of basalt heat insulation materials is 73 million rubles.

The authorities of North Ossetia attach great importance to the implementation of this investment project. The head of the Republic Vyacheslav Bitarov states: ‘It has great social significance. The implementation of this project will help to create new jobs.  North Ossetia possesses great basalt reserves enough to establish successful and cost-effective production.’

Previously, the authorities of South Ossetia declared their intention to launch own production of basalt fiber.

Countries: Russia

Industries: Finance & Investment, General society

Terms: Investment

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