“Rosneft” to invest 400 million dollars for establishment of tire production venture in Armenia
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YEREVAN, DECEMBER 27, ARMENPRESS. The Russian “Rosneft” company will invest 400 million dollars to the Republic of Armenia for the establishment of tire production venture. The raw materials for the tires will be the rubber to be produced in Armenia. The Prime Minister of the Republic of Armenia Tigran Sargsyan stated this at the course of this year’s final press conference convoked on December 27.
Tigran Sargsyan reminded the statement made by the Chairman of“Rosneft” Igor Sechin at the course of the meeting with the President of the Republic of Armenia in attendance with the President of the Russian Federation. According to the statement made by Igor Sechin, “Rosneft” has come to an agreement with the Italian company, the investment draft has been stated on establishing a new venture in the Republic of Armenia. “The venture suggests investments of 400 million dollars, that “Rosneft” has to realize in the Republic of Armenia and it regards the new factory that will produce tires,” the Prime Minister said as reported by “Armenpress”.
Tigran Sargsyan noted that the negotiations with “Rosneft” are ongoing. “We already have a clear idea on the construction of that new venture in the first stage. The second stage must regard the relations with “Nairit” within the volumes of this new investment,” the Prime Minister said.
At the end of the meeting between the President of the Republic of Armenia Serzh Sargsyan and the delegation headed by the Executive Chairman of the largest oil company “Rosneft” Igor Sechin,the representatives of the companies of “Rosneft”, “PIRELLI Tire Russia” and “Rosneft-Armenia” in attendance to the President of the Republic signed a number of agreements directed to the expansion of the cooperation, including a memorandum of mutual understanding on the establishment of a joint venture for the aim of butadiene-styrene rubber production in Armenia.