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Nairit Rubber Plant Needs Additional Investment Of $70 -$100 Million

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  • Nairit Rubber Plant Needs Additional Investment Of $70 -$100 Million

    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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