BASALT FIBER PLANT WORTH $9 MILLION MAY BE CONSTRUCTED IN ARMENIA

ARKA
March 17, 2010

YEREVAN, March 17, /ARKA/. Robert Harutyunian, executive director of
the Armenian Development Agency (ADA), told a news conference on March
16 at Novosti international press center that a plant for production
of basalt fiber worth $9 million may be constructed in Armenia.

He said basalt fiber is used for production of heat insulating and
soundproof materials, used in construction.

‘The investment proposal is ready. It is estimated $9 million. As a
result we shall have a modern plant for production of high quality
building materials from basalt fiber,’ he said. According to him,
possibilities of using basalt fiber in road construction are being
examined as well. He said the investment proposal was sent to Kuwait,
the United Arab Emirates and Russia.

The ADA is working also to introduce new technologies in production
of building materials, particularly, in production of light, heat
and sound proof blocks on the basis of perlite and clay, he said.