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Joint Venture for Glass Fibre Established in Russia

03 August 2008

July 4 witnessed the foundation stone of a factory for the production of glass fibre and glass fibre based products in Alabuga, Republic of Tatarstan.

The Joint Venture ""P-D Tatneft Alabuga Steklovolokno"" founded by Tatneft-Alabuga and P-D Glasseiden GmbH Oschatz (subsidiary of the German firm Preiss - Daimler Group).

The plant will produce high-quality competitive products, such as wire glass, straight roving, roving for felling, glass-fibre mats etc., which are used in construction, automotive, shipbuilding, electrical and other industries. Design capacity is 20.7 thousand tons of products per year. The cost of the project is 2.2 billion rubles.

The plant will have the features local raw materials, convenient geographical location, proximity to major petrochemical, automobile manufacturing and other industrial enterprises, as well as the region's developed transport infrastructure.

The foreign investor, P-D Glasseiden GmbH Oschatz company, is a leader in Europe for the production of glass fibre and possesses the latest technologies for the manufacturing various glass fibre based products.

Vladimir Putin, Prime Minister of Russia, at a meeting on the development of the automotive industry in Russia during his visit to SEZ Alabuga at the end of May this year set a global challenge to the domestic automobile industry that by 2012 at least 60% of components for auto vehicles manufactured in the territory Country should be produced in Russia. The joint venture of Tatneft and Preiss-Daimler Group is intended to contribute to the solution of this problem.





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