Basalt Projects Inc. plans to manufacture continuous basalt fiber at Moglino SEZ
It is planned to invest 2.7 billion rubles in the CBF plant which is scheduled to be launched in late 2019. Basalt Projects has the latest generation technologies for the production of high-quality continuous basalt fiber and a team of experts who are able to apply the latest design methods based on the integrated approach.
According to the expert economic calculations, investments are expected to return within 5.5 years when the annual profit amounts to 1.6 billion rubles.
Kirill Muravyev, Chief Engineer of Basalt projects Inc., commented:
We intend to establish the production of continuous basalt fiber using single-stage extraction from basalt rocks without the use of any additional chemicals. To launch the process multiple-operated recuperative furnaces of the latest generation will be used.
It is part of the company’s strategy to increase the domestic CBF production base, so this step is supposed to saturate basalt fiber market and provides its regular development. Physical and chemical properties of the fibers manufactured from basalt rock melts allow them to successfully compete with other materials and be used to produce basalt composite products.
The foundations for cooperation with Moglino SEZ were laid during the I International Basalt Forum, which took place in Moscow, November 2016. The special economic zone was represented at the event by the Director Olga Torbich. According to the Forum business program, General Director of Basalt Projects Inc. Maxim Chernykh visited Moglino SEZ on a business trip, during which he got acquainted with the advantages of this federal project, discussed the prospects for cooperation with the management of the SEZ.
Currently, the annual production of CBF in Russia amounts to 2.5-3 thousand tons. The project will help to increase the volume by 5 thousand tons of basalt fiber per year. According to Vyacheslav Luginin, Managing Director of Basalt Capital UK, the basalt industry is at the start of its development and investments are needed to help the segment grow effectively in order to make it a competitive market player in a short time.