Lipex Engineering GmbH has become the general contractor for the construction of a basalt fiber manufacturing plant in the Rostov Region (Russia).
At the Chamber of Commerce and Industry of the Rostov Region, ABV Holding Ltd, a resident of Gukovo advanced development zone, and Lipex Engineering GmbH (Germany, Munich) have finalized a contract to build a turnkey plant for production of basalt fibers.
The project is supposed to be completed within two years and to raise 50 million euros of mixed investments involving state funds. The annual capacity of the future plant is expected to reach 5 thousand tons of basalt fibers and 100 thousand tons of basalt fiber-based products.
If the German manufacturer strives to demonstrate its competene in basalt fiber manufacturing technologies and is committed to growing demand for basalt fiber, the Russian party hopes for a demand for basalt composites in a number of industries.
2017 was the year when both companies underwent some kind of transformation: ABV Holding took over LAVViP Aviation Concern LLC, and Lipex Engineering changed ownership and management. On January 22, 2019 ABV Holding LLC joined Gukovo as a resident.
For ABV Holding, it has become the second attempt to start basalt fiber production in Gukovo advanced development zone. The first time they tried as LAVViP Aviation Concern LLC in 2011 with the investment project amounted to 5.3 billion rubles.
Lipex Engineering GmbH focuses on basalt fiber as a promising material and has recently concluded a supply agreement for a basalt fiber nonwoven production line to China.