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China Allocates $100mln For Construction of Rubber-Producing Plant

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  • China Allocates $100mln For Construction of Rubber-Producing Plant

    CHINA ALLOCATES 100MLN. USD FOR CONSTRUCTION OF RUBBER-PRODUCING PLANT


    YEREVAN, OCTOBER 4. ARMINFO. China has allocated 100mln. USD for the
    construction of a plant to produce chloroprene rubber by Armenian
    technology, the Armenian participant in the project, Director of the
    "Nairit 2" CJSC Albert Sukiasyan told ARMINFO.

    According to him, the construction of a plant with a designed capacity
    of 30,000 tons of rubber a year in the province of Shaahsi was started
    a year ago. The Armenian share in the authorized capital of the
    "Shaansi-Nairit" CJSC is 40%, and that of China 60%. Sukiasyan pointed
    out that the State Bank of China lent a credit, and the Armenian side
    is to contribute with technologies and equipment. Sukiasyan pointed
    out that a rubber-producing plan is already operating in Shaansi, but
    is was closed for environmental reasons. The old plant is to be shut
    down after the new one is put into operation, 50km. away from the
    city. Sukiasyan reported that China's yearly demand for rubber is
    100,000 tons.

    An agreement on the establishment of a JV was signed on October 2001
    between the RA Ministry of Trade and Economic Development and the
    Shaansi group of joint-stock companies of synthetic rubbers.
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