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$400-500MLN NEEDED TO UPGRADE NAIRIT PLANT
PanARMENIAN.Net
June 2, 2011 - 13:49 AMT
PanARMENIAN.Net - Armenian Minister of Energy and Natural Resources
Armen Movsisyan said USD 400-500mln is needed to upgrade Nairit plant.
The term of tender announced for an operator will expire on June 15,
2011, Movsisyan told the June 2 governmental sitting.
Referring to the current situation at the plant, which employs 3,074
people, the Minister noted that after the plant's privatization,
the greatest volume of production was recorded in 2007-2008, when the
price for gas was $54 per thousand cu m. According to him, the price
continuously increased after it, what has had a negative impact on the
plant. "It resulted in growth of output's prime cost and forced the
plant to look for new sales markets. But the main problem referred
to restoration of chloroprene rubber production," he said, adding
that the global financial crisis has also considerably affected the
plant's operation.
Movisyan said the program is ready and envisages huge investments.
"Under the announced tender, we are looking for an international
operator to implement it. Investments at the amount of USD 400-500mln
are required to finally solve the problem of Nairit, so that it
achieves international standards," noted Movsisyan.
Armenian Prime Minister Tigran Sargsyan said for his part that
transparency is the best way of activity, adding that international
structures, namely IMF and Eurobank.
From: A. Papazian
PanARMENIAN.Net
June 2, 2011 - 13:49 AMT
PanARMENIAN.Net - Armenian Minister of Energy and Natural Resources
Armen Movsisyan said USD 400-500mln is needed to upgrade Nairit plant.
The term of tender announced for an operator will expire on June 15,
2011, Movsisyan told the June 2 governmental sitting.
Referring to the current situation at the plant, which employs 3,074
people, the Minister noted that after the plant's privatization,
the greatest volume of production was recorded in 2007-2008, when the
price for gas was $54 per thousand cu m. According to him, the price
continuously increased after it, what has had a negative impact on the
plant. "It resulted in growth of output's prime cost and forced the
plant to look for new sales markets. But the main problem referred
to restoration of chloroprene rubber production," he said, adding
that the global financial crisis has also considerably affected the
plant's operation.
Movisyan said the program is ready and envisages huge investments.
"Under the announced tender, we are looking for an international
operator to implement it. Investments at the amount of USD 400-500mln
are required to finally solve the problem of Nairit, so that it
achieves international standards," noted Movsisyan.
Armenian Prime Minister Tigran Sargsyan said for his part that
transparency is the best way of activity, adding that international
structures, namely IMF and Eurobank.
From: A. Papazian