10 Aug 2022 16:43

Russia's TechnoNICOL postpones rock wool plant commissioning in Kazakhstan until 2024

ROSTOV-ON-DON. Aug 10 (Interfax) - TechnoNICOL Corporation plans to put into operation a rock wool plant in Kazakhstan in February 2024, the company said in a press release.

Previously, the company expected to launch the project in 2023.

Total investment in the project increased 23% to over 80 million euros from 65 million euros. "The increase in the project cost followed a rise in environmental investment and import equipment prices," the press service of the company told Interfax.

TechnoNICOL will become anchor lessee and the first large resident of the Kairat Industrial Zone in the Talgar district of the Almaty region.

The necessary infrastructure on the site is nearly all in place, including a power generation plant, a pumping station, access railway, water supply and sewage systems. Construction of a gas supply system and inner motor roads is ongoing, according to the press release.

TechnoNICOL is carrying out two rock wool projects in Kazakhstan. The company selected Kazakh companies as general contractors for both projects, which will be built on 30.6 hectares including rock wool production facilities, administrative buildings and a waste treatment plant. The total area of all buildings will be 20,000 square meters.

TechnoNICOL began the rock wool plant production project in Kazakhstan in Q1 2022. The new plant will produce 1.4 million cubic meters of rock wool a year.

TechnoNICOL, created in 1992, specializes in production of roofing, waterproofing and heat-insulating materials.