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Lipex Engineering to build basalt fiber production plant in Russia

The plant represents the company’s plan to make basalt fiber one of its key growth areas.

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Lipex Engineering basalt fiber

Source | Lipex Engineering

Lipex Engineering GmbH (Munich, Germany) recently finalized a contract to build a turnkey plant for production of basalt fibers in Russia. 

The production plant will be built on the territory of Gukovo in Rostov Oblast, Russia, and is expected to be completed within the next two years. Representing an investment of 50 million euros and providing employment for 160 employees, the plant’s yearly capacity reportedly will be more than 5 tons. 

The company says that it plans to focus on basalt fiber production as a key area for future growth.

Lipex also recently delivered a basalt fiber nonwoven production line to the Chinese market.