# Lipex Engineering to build €50M basalt fiber plant in Gukovo, Russia

Munich-based Lipex Engineering GmbH announced plans to build a new basalt fiber production plant in Gukovo, Rostov, Russia. The €50 million facility is expected to be completed in about two years and will employ 160 engineers, producing 5 tons of basalt fiber composites.

- Type: New facility
- Announced: 2019-07-24
- Where: Gukovo, Rostov, Russia
- Value: $56.0M (50.0M EUR)
- Jobs: 160
- Status: announced
- Capacity: 5 tons of basalt fiber composites
- Products: basalt fiber composites
- Sectors: [Industrial Textiles](https://endata.com/sectors/industrial-textiles.md)

## Companies

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

## Sources

- [industrytap.com](https://www.industrytap.com/lipex-engineering-ups-its-basalt-fiber-game/49546), 2019-07-24: "The new production plant is expected to be completed in about two years from now, and it will cost around 50 million euros for the firm."

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