ROSNEFT, PIRELLI TYRE RUSSIA AND ROSNEFT- ARMENIA SIGN MOU TO SET UP JOINT VENTURE FOR PRODUCTION OF SYNTHETIC RUBBER
YEREVAN, December 25. / ARKA /. Representatives of Russian Rosneft,
Pirelli Tyre Russia and Rosneft- Armenia signed in Yerevan a memorandum
of understanding today to establish a joint venture for production
of butadiene- styrene rubber, the press service of Armenian president
said.
The memorandum and several other agreements aimed at enhancing
cooperation were signed after the meeting of Armenian President Serzh
Sargsyan with Rosneft head Igor Sechin.
At the order of Russian President Vladimir Putin a special delegation
has arrived in Armenia to assess the available opportunities and
develop specific action program to modernize Nairit chemical plant
in Armenia.
In 2006, 90% of Nairit’s shares were sold to British RHinoville
Property Limited for $40 million. The remaining 10% belong to the
Armenian government. RHinоville Property Lim ited was set up by
Polish Samex, US Intertex and Russian Eurogaz . In April 2010 the
plant stopped producing rubber. Before the halt, it sold its products
chloroprene rubber- to EU countries, Russia (about 30% of the exports),
the United States and 20 other countries. -0-
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