Ministry of energy package of solutions for Armenian Nairit expected

Ministry of energy package of solutions for Armenian Nairit expected
in mid September

YEREVAN, September 4. /ARKA/. Armenia’s ministry of energy and natural
resources will by September 15 submit a package of proposals to solve
issues related to Nairit chemical plant, to the future of the plant
and salary arrears in particular, head of the ministry Yervand
Zakharyan told the activists protesting outside the government
building on Thursday.

Unfortunately, not everything has been clarified with Rosneft so far,
but it is not the only option, the minister said adding possible
solutions will be suggested under the package to come soon.

At the end of December 2013, Russian Rosneft, Pirelli Tyre Armenia and
Rosneft-Armenia signed a memorandum to set up a joint venture for
production of styrene-butadiene rubber.

Earlier, ex-premier of Armenia Tigran Sargsyan said Rosneft was
planning to invest some $400 million in a new chemical plant where
Nairit’s professional staff could find jobs.

The minister also assured the protesters one month salaries will be
paid to the staff within the deadline set.

Nairit was the only plant in the Soviet Union to produce chloroprene
rubber. The plant was closed in 1989 for environmental reasons and
resumed operating partially in 1992. In 2001, some production
facilities were separated from the plant for producing chloroprene
rubber and a debt-free enterprise based on them was established.

In 2006, 90% of Nairit’s shares were sold to British Rainoville
Property Limited for $40 million. The remaining 10% belong to the
Armenian government. The plant has been at a standstill since April
2010; the salary arrears were about $12 million as of November 2013.
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