# Lipex Engineering to build basalt fiber plant in Gukovo, Russia

Lipex Engineering GmbH finalized a contract to build a turnkey basalt fiber production plant in Gukovo, Rostov Oblast, Russia. The plant represents an investment of EUR 50 million, will employ 160 people, and have a yearly capacity of more than 5 tons. Completion is expected within two years.

- Type: New facility
- Announced: 2019-06-04
- Where: Gukovo, Rostov Oblast, Russia
- Value: $56.0M (50.0M EUR)
- Jobs: 160
- Starts operating: 2021
- Status: announced
- Capacity: more than 5 tons per year
- Products: basalt fiber
- Sectors: [Industrial Textiles](https://endata.com/sectors/industrial-textiles.md), [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [Lipex Engineering](https://endata.com/companies/38771.md)

## Sources

- [compositesworld.com](https://www.compositesworld.com/news/lipex-engineering-to-build-basalt-fiber-production-plant-in-russia), 2019-06-04: "The plant represents the company’s plan to make basalt fiber one of its key growth areas."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.