Penoplex, the only manufacturer of extrusion polystyrene in Russia, plans to invest RUB 700m (€18m) in buiding a plant for the production of heat insulation materials in the Tula region.
The company will fund the project itself and the plant’s capacity will be 650,000m³ of insulation per year. It will reach full capacity by 2012.
The plant will be Penoplex’s eighth manufacturing facility, giving the firm a 60% share in the Russian insulation materials market.
The firm has six production facilities – in Kirishi, Taganrog, Novosibirsk, Perm, Khabarovsk and Cheremkhovo – and one in Kazakhstan.