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German c.a.c. single participant in tender for selecting operator for
Armenian Nairit plant
YEREVAN, July 1. /ARKA/. Only one company, German C.A.C., has applied
for participation in tender announced by the government of Armenia to
select a company to operate Nairit synthetic rubber plant, Armenian
Energy and Natural Resources Ministry's Press Secretary Lusine
Harutyunyan said.
The initially set deadline for applications was prolonged from June 15
to June 30.
`Other companies have expressed interest in the tender as well, but
they haven't submitted their applications,' she said.
Harutyunyan said that the ministry's specialists would meet with
representatives of the company to discuss the proposed program.
In 2010 the shareholders approved a new development program based on
new approaches that emerged in post-crisis period.
Earlier, Energy and Natural Resource Minister Armen Movsisyan said
that the cost of modernizing Nairit synthetic rubber plant in Yerevan
and bringing it into line with international standards may amount to
$400-500 million.
The minister also said the plant has accumulated $120-$150 million of
international commitments, including a debt to CIS Interstate Bank and
about $25 million of domestic obligations.
Nairit plant was closed in 1989 for ecological reasons, but resumed
partial operation in 1992-93. In 2006 some 90 % of its shares were
sold to a British-registered Rainoville Property Limited at $40
million. The remaining 10% is held by the Armenian government. -0-
Armenian Nairit plant
YEREVAN, July 1. /ARKA/. Only one company, German C.A.C., has applied
for participation in tender announced by the government of Armenia to
select a company to operate Nairit synthetic rubber plant, Armenian
Energy and Natural Resources Ministry's Press Secretary Lusine
Harutyunyan said.
The initially set deadline for applications was prolonged from June 15
to June 30.
`Other companies have expressed interest in the tender as well, but
they haven't submitted their applications,' she said.
Harutyunyan said that the ministry's specialists would meet with
representatives of the company to discuss the proposed program.
In 2010 the shareholders approved a new development program based on
new approaches that emerged in post-crisis period.
Earlier, Energy and Natural Resource Minister Armen Movsisyan said
that the cost of modernizing Nairit synthetic rubber plant in Yerevan
and bringing it into line with international standards may amount to
$400-500 million.
The minister also said the plant has accumulated $120-$150 million of
international commitments, including a debt to CIS Interstate Bank and
about $25 million of domestic obligations.
Nairit plant was closed in 1989 for ecological reasons, but resumed
partial operation in 1992-93. In 2006 some 90 % of its shares were
sold to a British-registered Rainoville Property Limited at $40
million. The remaining 10% is held by the Armenian government. -0-