An investor delegation from the United Kingdom and a representative of the Russian Basalt Project Joint Stock Company signed an understanding agreement aimed at establishing a continuous basalt fiber (CBF) and continuous basalt fiber reinforced composite production plant in Saudi Arabia, with an estimated annual capacity For 5000 tons.
The implementation of the agreement involves carrying out the project in phases. The first phase of the project was carried out after the commissioning of the company's own designed pultrusion production line "Compositor Sergey Rachmaninov" in October 2018. According to the terms of the agreement, the basalt project company will also supply raw materials and subsequent maintenance equipment.
It is reported that the British delegation visited Russia as early as August 2015. This visit allowed British investors to understand Russia's second-generation CBF production technology and formed a cooperation framework around the two sides in the field of industry development.
The cooperation agreement between the Russian Basalt Project Company and British investors is the first step in establishing partnerships and further cooperation. At present, the project is still attracting more investor participation.