NAIRIT RUBBER PLANT NEEDS ADDITIONAL INVESTMENT OF $70 -$100 MILLION: PM
/ARKA/
December 24, 2010
YEREVAN
Armenian prime minister Tigran Sarkisian said Nairit synthetic rubber
plant in Yerevan needs an additional investment of $70 -$100 million in
order to organize a modern production. He was speaking to journalists
after a meeting with his Russian counterpart Vladimir Putin in Russian
St. Petersburg. The prime minister was quoted by Armenia’s Public TV
as saying that special instructions were issued to relevant bodies
in both countries.
He said also the Armenian side will work closely with Russian
colleagues to take correct decisions.
Nairit plant was closed in 1989 for ecological reasons, but resumed
partial operation in 1992-93. In 2006 some 90 % of its shares were sold
to a British-registered Rainoville Property Limited at $40 million. The
Armenian government has a 10 percent stake in the Soviet-built company,
which has repeatedly changed owners over the past two decades.
From: A. Papazian
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