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POST-CRISIS SITUATION MORE FAVORABLE FOR ARMENIAN CHEMICAL INDUSTRY - GOVERNMENT
news.am
July 13 2011
Armenia
YEREVAN.- Neither Armenian Prime Minister Tigran Sargsyan nor any
other official, any resident of Armenia are co-owners of Rainoville
company owning Armenia's Nairit chemical plant, said Minister of
Energy and Natural Resources Armen Movsisyan.
Owner of Nairit plant is Rainoville company control stock of which
belongs to CIS Interstate bank.
Speaking about the reasons why Rainoville company was unable to cope
with the management of chemical giant, Movsisyan said that there are
objective and subjective reasons. He claimed it was the only company
which agreed to buy Nairit for $ 40 million in addition to debts.
Among the objective reasons he mentioned rise in gas prices in Armenia
and AMD revaluation.
Minister Movsisyan said that the government has drafted a plan for
rehabilitation of Nairit. If implemented, chemical giant will be able
to work at full capacity.
German C.A.C company is interested in management of the plant,
he added.
"Negotiations with the company are underway. If they do not succeed,
there are other proposals from Poland and Russia," said Movsisyan.
He stressed that more favorable atmosphere for the chemical industry
developed after global crisis.
news.am
July 13 2011
Armenia
YEREVAN.- Neither Armenian Prime Minister Tigran Sargsyan nor any
other official, any resident of Armenia are co-owners of Rainoville
company owning Armenia's Nairit chemical plant, said Minister of
Energy and Natural Resources Armen Movsisyan.
Owner of Nairit plant is Rainoville company control stock of which
belongs to CIS Interstate bank.
Speaking about the reasons why Rainoville company was unable to cope
with the management of chemical giant, Movsisyan said that there are
objective and subjective reasons. He claimed it was the only company
which agreed to buy Nairit for $ 40 million in addition to debts.
Among the objective reasons he mentioned rise in gas prices in Armenia
and AMD revaluation.
Minister Movsisyan said that the government has drafted a plan for
rehabilitation of Nairit. If implemented, chemical giant will be able
to work at full capacity.
German C.A.C company is interested in management of the plant,
he added.
"Negotiations with the company are underway. If they do not succeed,
there are other proposals from Poland and Russia," said Movsisyan.
He stressed that more favorable atmosphere for the chemical industry
developed after global crisis.