Energy Minister calls deputies not to hinder talks with Rosneft

YEREVAN, FEBRUARY 25, ARMENPRESS: The Minister of Energy and Natural Resources of the Republic of Armenia Armen Movsisyan does not consider the creation of the temporary commission on Nairit Plant expedient at this moment. During the discussion of the bill on the creation of the temporary commission on Nairit issues at the National Assembly of Armenia, Movsisyan stated that at present they are implementing a new program in Nairit with Rosneft and the works are not advisable to be hindered. “At last we have a company, which is ready to make investments of $500 million in Armenia and let us not hinder these processes”, - he said, Armenpress reports.

Nairit was one of the biggest plants of Armenia and being the biggest, it had problems both in the USSR and the Republic of Armenia. “I welcome the speeches, directed to improve this situation but the speeches, which give the issue a political shade, are not acceptable”, - said the Minister of Energy and Natural Resources of the Republic of Armenia Armen Movsisyan.

The Nairit Plant CJSC was established in 1940. On December 1 2008 the work of the Plant was stopped because of the financial crisis. About 1,500 employees were dismissed. The employees of the Nairit Plant are being paid the debts of their salaries by parts. In 2006 the Rhinoville Property Limited international company purchased 90% of the shares of the Nairit Plant CJSC. The other 10% belong to the Ministry of Energy and Natural Resources of the Republic of Armenia.

In 2013 the Russian Itera and Rosneft were interested in the Nairit Plant, though the negotiations have been suspended. According to different data, the total debt of the Nairit Plant makes about 120-130 million dollars, 20-25 million of which – to the Armenian banks.The Plant has a debt of one year’s salaries.