Kazakhstan: A new Vodokanalstroy Company mineral wool plant has started operation in the city of Karaganda in Karaganda region as part of the Business Roadmap-2020 programme.
The executive director of the company, Mikhail Lashkov, said, "The project cost USD11.2m. The sources of financing were our own funds, accounting for USD7.6m and a loan of USD3.7m borrowed at an interest rate of 7%/yr."
According to Lashkov, the production capacity of the plant is 85,000m3/yr of thermal insulation material. "The main product of the plant are mineral wool slabs with Misot synthetic binding agent," he added. The raw materials for the products are sourced from ArcelorMittal Temirtau.
"There is a huge demand for heat insulation materials in Kazakhstan and 85% of such products are imported. Now the imports can be reduced," said Lashkov.
