Lipex Engineering to build basalt fiber production plant in Russia

The plant on behalf of the company plans to use basalt fiber as one of its main growth areas.

Lipex Engineering GmbH (Munich, Germany) recently completed a contract to establish a turnkey plant in Russia for the production of basalt fiber.

The production plant will be built on the territory of Gukovo, Rostov-on-Don, Russia, and is expected to be completed within the next two years. The plant has an investment of 50 million euros and provides employment opportunities for 160 employees. The plant is reported to have an annual production capacity of more than 5 tons.

The company said it plans to make basalt fiber production a key area for future growth.

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