Alabuga Basalt Technology Centre is approved for RUB 499 million loan

2 August 2021, Monday

Tatarstan’s Alabuga Basalt Technology Centre has been approved for a RUB 499 million loan from the Industrial Development Fund (IDF) under the Components Programme, which will launch a new plant for the production of continuous basalt fibre with a capacity of 5,300 tonnes of product per year.

Basalt fibre is a high-performance and environmentally friendly insulation material. The products are used as a filler in the production of construction materials (asphalt, concrete), as a feedstock for composite polymer materials, fireproof clothing, fireproof mats, filters, as well as for pipe reinforcement and cable protection.

In total, the Expert Council of the Industry Development Fund (VEB.RF Group) approved seven loans for projects in St Petersburg, the Moscow, Sverdlovsk, and Orel regions, as well as in the republics of Tatarstan, Bashkortostan, and Krasnoyarsk Territory. The amount of the loans from the IDF will exceed RUB 1.88 billion, and the total budget for the projects will be RUB 4.5 billion.

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