ST. PETERSBURG, May 22. /TASS/. Russian divisions of Denmark's Rockwool (now controlled by the Development of Construction Assets Joint-Stock Company) will invest more than 10 billion rubles ($140 million) in the production's development and diversification until 2028, the company's CEO Timur Amirov said in response to a question about how the company's four factories would be working in the Russian Federation.
"We plan to invest more than 10 billion rubles within the next two years. These are our own funds, we will not attract government subsidies. The money will be used to restore competencies for the military-industrial complex and to launch a new line of prefabricated modular buildings," he said.
Additionally, the company's Russian division has announced restoration of production to make specialized products for the United Shipbuilding Corporation (USC) - rock wool with a special coating for noise and fire insulation of nuclear submarines and military vessels.
"We have released the first pilot batch of products, and it has confirmed: Rockwool's Russian enterprises have maintained technology and quality, despite Denmark's decisions. As for pricing, we are maximum flexible, taking into account the market and requirements of the state defense order. We are starting the procedure for obtaining necessary certification. This will take a few months, but the facilities are ready now," he added.
