Svetlogorsk-based Khimvolokno plans to invest more than Br120 million in the development of production in 2010-2011, Khimvolokno’s Director General Vasily Kostyukevich told reporters on 18 November.

Vasily Kostyukevich said that the total cost of the Khimvolokno development program for 2006-2011 is Br340 billion. Up till now, the company has already spent Br218 billion. Some Br69 billon has been allocated for construction of new non-woven fabric production facilities. The facilities have been already put into operation. They will allow producing new generation of non-wovens (AquaSpan).

Another major project of the company is the upgrading of the polyether textile fibers plant. The goal of the project is to increase the plant’ capacity up to 38,500 tonnes a year. This year Khimvolokno has attracted Japanese loan (€24 million) for this purpose and signed a contract to purchase equipment with Japanese company of Marubeni. The development program also includes a number of projects in energy saving, expanding carbon materials and special fibers production, and upgrading viscose production facilities.

All in all, the investment program of Khimvolokno for 2006-2011 consists of 15 projects.

Vasily Kostyukevich said amid the current economic situation the company works steadily, it meets almost all the forecasts. The company has recently won the struggle with poor sales. The warehouse stocks comprise about 75% of the monthly average volume of production. In the beginning of 2009, this figure was more than 100%. Vasily Kostyukevich said that given the wide range of Khimvolokno’s products, the 75%-80% of stocks is a standard level for the company. And the stocks of polyether fiber total only 25%.

Khimvlokno exports its goods to 40 countries. Tthe company has recently entered new markets with special fibers and carbon materials.

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