YEREVAN, JULY 28, ARMENPRESS. A discussion on “Nairit Plant” further exploitation, technical and financial feasibility studies is in progress at the National Assembly of Armenia. The studies were carried out by the experts of “Jacobs Consultancy” and summarized by The World Bank. The Minister of Energy and Natural Resources of the Republic of Armenia, Yervand Zakaryan, briefly presented the research done.

 “The Government of Armenia turned to the World Bank taking into account the social tension surrounding “Nairit Plant”. The World Bank ordered by its own means an audit on the financial and technical condition of the plant.” Armenpress reports, Yervand Zakaryan stated. According to Yervand Zakaryan, beginning from 2006 when 90 percent of the plant was sold to “Raynovil Property Limited” company, and only 10 percent remained in the possession of the Government of the Republic of Armenia, the owner company started to run into debts.  

Currently Nairit’s debt is 126 billion AMD.

The Minister added that some suggestions were made as a result of the studies and the Government may take the latter into account when making a decision. “The position of the authorities is to find ways of restarting the factory.”, said Yervand Zakaryan. In reference to the unpaid salaries of Nairit employees, the Minister said that the payment of the salaries had started at the end of the previous week.