TechnoNicol increases investment in insulation plant in Kazakhstan to 10 bln rubles

KRASNY SULIN. Oct 27 (Interfax) - TechnoNicol, a Russian building materials manufacturer, plans to invest 10 billion rubles in the construction of a stone wool thermal insulation plant in Kazakhstan, the head of the company's mineral insulation division, Vasily Tkachev said.

"We currently have the largest construction site in Almaty, a plant to produce mineral insulation is being built there right now. And a plant to produce extruded polystyrene (XPS) thermal insulation is also being built. There are fairly large investments there. Investment in the plant in Almaty totals about 10 billion rubles," Tkachev said.

The company is also starting to build an XPS plant in Uzbekistan, he said.

It was reported earlier that investment in the mineral insulation plant in Almaty would total 5.5 billion rubles, so investment in the project will increase by 80%. TechnoNicol began the active stage of building the plant in Kazakhstan in August 2023.

Tkachev said the company also has big plans for projects in Russia.

"We have fairly big plans for the next three years. We see that the construction sector is growing, construction is being actively supported by the government. We, as an active producer of construction materials, feel the state's support and are moving forward, so that when there is demand there will be product. We're forced to open production earlier, forecasting growing demand," Tkachev said.

TechnoNicol, which was founded in 1992, is a major manufacturer of roofing, waterproofing and insulation materials.