Russian foam glass manufacturer Penosytal, in cooperation with state corporation Rusnano and Rostov developer Rostovgorstroy, is to build a USD 69.3 million plant to produce foam glass in the Perm reg…
Russian foam glass manufacturer Penosytal, in cooperation with state corporation Rusnano and Rostov developer Rostovgorstroy, is to build a USD 69.3 million plant to produce foam glass in the Perm region. Rusnano will reportedly invest USD 17 million, Penosytal and Rostovgorstroy USD 8.5 million each, while USD 35.3 million will come from a loan from Sberbank. As per the plans, the project will be carried out in three stages. The first stage involves project development and engineering to be completed by the second quarter of 2010. During the second stage, experimental production facilities are to be launched by the fourth quarter of 2011. The third stage involves the putting into operation of the production facilities with annual capacity of 106,000 cubic meters of slabby foam glass, by the second quarter of 2013.