Basalt fiber new material industrial park was mentioned among marine projects considered during the Yantai marine economic forum.
The event held in autumn of 2018 led to the signing of investment deals totally worth $948.5 million, says China Daily. The Forum is positioned as a leading platform for attracting investments and cooperation with multinational companies.
Yantai is a center where modern drivers of the marine economy sector are being developed: fishery, oil & gas production, hydro-power, desalination and sea transportation.
Marine and coastal infrastructure require materials resistant to corrosion in salty media and constant high humidity. And, of course, those that are cost effective for large-scale projects.
Basalt fiber and basal composites meet the listed requirements, and offer excellent properties for marine applications both for plastics reinforcement and building mixes.
Perhaps, it is considerations that get China to set up production facility for basalt fiber-based materials near the consumer locations and export transport routes.