Tweet
$3.5 MILLION NEEDED TO START PRODUCTION OF BASALT FIBER IN ARMENIA
YEREVAN, November 16. / ARKA /. The minimum amount to start production
of basalt fibers in Armenia is $3.5 million, according to Gagik
Kirakosyan, general director of Onyx company.
"This business requires serious investments and the minimum amount
is $ 3.5 million,' Kirakosyan said today during a conference on "The
importance and possibilities of Armenia in processing of non-metallic
ores."
He said Armenia's geographical location scares many investors away
and therefore the government should develop a special program to
boost this business.
According to Kirakosyan, Armenia has 125 billion cubic meter of basalt,
which is about 300 billion tons. He also said that basalt fiber has
several advantages compared with other materials.
"In particular, plastic produced from basalt fiber does not lose its
features at temperatures up to 900 degrees. They are also not expensive
and are of high quality. And it is a waste-free production," he said,
adding that China is number one global producer of basalt fiber. -0-
YEREVAN, November 16. / ARKA /. The minimum amount to start production
of basalt fibers in Armenia is $3.5 million, according to Gagik
Kirakosyan, general director of Onyx company.
"This business requires serious investments and the minimum amount
is $ 3.5 million,' Kirakosyan said today during a conference on "The
importance and possibilities of Armenia in processing of non-metallic
ores."
He said Armenia's geographical location scares many investors away
and therefore the government should develop a special program to
boost this business.
According to Kirakosyan, Armenia has 125 billion cubic meter of basalt,
which is about 300 billion tons. He also said that basalt fiber has
several advantages compared with other materials.
"In particular, plastic produced from basalt fiber does not lose its
features at temperatures up to 900 degrees. They are also not expensive
and are of high quality. And it is a waste-free production," he said,
adding that China is number one global producer of basalt fiber. -0-