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Vanadzor Chemical Plant waiting for new investor
by Marianna Lazarian
ARMINFO
Wednesday, September 3, 13:10
Idling Vanadzor Chemical Industry CJSC is negotiating with a new
investor for reactivation of the plant, Alexander Snegirev, Director
General of the Company, told ArmInfo.
He said that plant is idling for debts exceeding 4 bln drams. He said
these are debts for energy resources, to suppliers and arrears of
wages. The plant has 160 million arrears of wages, Snegirev said. "At
present, we are negotiating with the investor for the funds to pay
arrears of wages and reactivate the plant," he said.
The plant has never worked consistently and regularly accumulated
debts. The company's staff has been repeatedly rallying demanding
their wages lately. The last time, the workers held a protest action
in early August, when Prime Minister Hovik Abrahamyan visited the
plant. The prime minister said the plant is a private property and the
issue of wages is not within his competence. However, he promised, at
least, a month-salary to the workers. Quite recently, the workers
received salary for a month. It is noteworthy that the prime minister
could not name the owner of the company to reporters. So, it is not
clear where the funds were taken from to pay a month-salary to the
workers. A question arises as to whether the salary was paid from the
state budget and why the government redeems the debts of a private
company.
According to local media outlets, negotiations are held with a British
company for investments in Vanadzor Chemical Plant. Later, there were
reports on a Georgian investor. However, neither the new nor the
current shareholders of the plant are named.
It was reported earlier that in 2007, the shares of the Vanadzor
Chemical Plant were purchased for $25 million by Roding International
Limited, Russia. Recently, some media reported that the company's
shares belong to a certain Galiana Kozlova.
From: Baghdasarian
by Marianna Lazarian
ARMINFO
Wednesday, September 3, 13:10
Idling Vanadzor Chemical Industry CJSC is negotiating with a new
investor for reactivation of the plant, Alexander Snegirev, Director
General of the Company, told ArmInfo.
He said that plant is idling for debts exceeding 4 bln drams. He said
these are debts for energy resources, to suppliers and arrears of
wages. The plant has 160 million arrears of wages, Snegirev said. "At
present, we are negotiating with the investor for the funds to pay
arrears of wages and reactivate the plant," he said.
The plant has never worked consistently and regularly accumulated
debts. The company's staff has been repeatedly rallying demanding
their wages lately. The last time, the workers held a protest action
in early August, when Prime Minister Hovik Abrahamyan visited the
plant. The prime minister said the plant is a private property and the
issue of wages is not within his competence. However, he promised, at
least, a month-salary to the workers. Quite recently, the workers
received salary for a month. It is noteworthy that the prime minister
could not name the owner of the company to reporters. So, it is not
clear where the funds were taken from to pay a month-salary to the
workers. A question arises as to whether the salary was paid from the
state budget and why the government redeems the debts of a private
company.
According to local media outlets, negotiations are held with a British
company for investments in Vanadzor Chemical Plant. Later, there were
reports on a Georgian investor. However, neither the new nor the
current shareholders of the plant are named.
It was reported earlier that in 2007, the shares of the Vanadzor
Chemical Plant were purchased for $25 million by Roding International
Limited, Russia. Recently, some media reported that the company's
shares belong to a certain Galiana Kozlova.
From: Baghdasarian