The launch of basalt fiber production is estimated at 200 million rubles. This project includes the several stages starting from the extraction of basalt raw material to the processing that material into a finished product.
The initial annual production capacity is supposed to reach 200 tons of finished products to be sold in the Russian market. The project initiators have already made preliminary supply arrangements with a number of Russian commercial structures.
The local basalt deposits located in Tskhinvali Region will be used for the production. The experts consider these reserves to be sufficient for 80-100 years, and the good quality of the mineral will reduce the processing cost. The production is environmentally friendly and capable of providing the local people with new jobs.
Businessmen who are the project initiators have rented space for the future production facilities in order to reduce the payback time. If the Investment Agency approves the business plan and allocates funding for its implementation, the basalt production in Tskhinvali will be the first in the country to use only local raw materials.
According to William Dzagoev, Economy Minister of South Ossetia, in the case of successful realization of the project, it may have a huge impact on the image of the republic.