A heat insulation materials plant called Izospan will be built in Mogilev, Interfax learnt from chairman of Izospan board Igor Cherny.
The plant will produce construction panels and plates of mineral wool and roamed polyurethane.
The plant is expected to be commissioned in November or December 2008, the source reported.
The plant will annually make 1 million square metres of insulation materials, which will enable it to win 10% of the Russian market and export goods to the CIS.
Izospan LLC was registered in Mogilev Free Economic Area in December 2007.
There will be created around 40 new jobs. The estimated cost of the construction project is EUR 10 million.