Technonicol to build new stone wool plant in Kazakhstan

24/04/2024

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The Russian company “Technonicol” has started building a new stone wool factory in Kazakhstan, with an investment of 55 billion tenge. The facility will be located 20 kilometers from Karaganda in the industrial zone “Sarany”. The launch is scheduled for April 2026, according to the company’s release.

This is already the third factory of “Technonicol” to open in Kazakhstan. In 2024, two factories of the company will start operating in the Almaty region, producing thermal insulation materials.

“Kazakhstan demonstrates active economic growth and increasing domestic demand for building materials. Additionally, the country’s geographical location at the intersection of trade routes connecting Kyrgyzstan, Uzbekistan, China, and Mongolia expands opportunities for export,” said Sergei Kolesnikov, co-owner of “Technonicol”.

The new factory will produce mineral wool for thermal and sound insulation of roofs, facades, floors, and internal partitions of residential, public, and industrial buildings, as well as insulation materials for sandwich panels and technical insulation.

According to the company’s plans, 30% of the materials will be exported abroad, while the remaining part will be supplied to domestic companies. The opening of the factory will create over 180 jobs at the production site and around 1,500 jobs in service subcontracting organizations that will serve it.

“We are formalizing land ownership and starting the construction design process, as well as assembling a team of key specialists. We have concluded part of the contracts for engineering and equipment supply. By the end of the year, we will begin preparatory and earthworks,” noted Vasily Tkachev, one of the company’s executives.

“Technonicol” is a major Russian manufacturer of roofing, waterproofing, and thermal insulation materials.

The company was founded in 1992 by Sergei Kolesnikov and Igor Rybakov. Both businessmen are included in the Russian Forbes list for 2023, with each estimated to be worth $1.4 billion. In May 2023, Poland imposed sanctions against the billionaires, citing their activities in “key sectors of the economy, including those related to oil processing”.

In October 2023, TechnoNicol announced the sale of two plants in the UK and legal action over its Polish plant. The company has no plans to sell its assets in Lithuania, Germany, or Italy, which continue to operate autonomously. In March 2024, the company announced that it would triple its investments in mineral wool production in Russia and Kazakhstan.

Source and Credit: kz.kursiv.media