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BIG POLISH COMPANY INTERESTED IN "NAIRIT" PLANT
arminfo
Tuesday, October 18, 18:19
The big Polish company is interested in "Nairit" chloroprene rubber
producing plant, secretary of Armenian National Security Council,
Artur Bagdasaryan, said at today's press-conference in Yerevan.
"Armenia and Poland have already reached certain arrangements
regarding the next steps on deepening of cooperation in the sphere
of economy. But I would like to specially emphasize that a big Polish
company is interested in the "Nairit" plant. Together with our Polish
counterparts we have arranged to do everything possible so that to
fulfill this joint project", - Bagdasaryan said.
For his part, Ambassador of Poland to Armenia Zdislaw Rachinsky said
that over a year the problem of participation of a number of Polish
companies in fulfillment of a large-scale investment programme at the
"Nairit" plant will be resolved.
Nairit was the only producer of chloroprene rubber in the
Soviet Union. In 1989 it was shut down, following protests by
environmentalists. In 1992-1993 the plant was partly restarted. In
2001 it started producing chloroprene rubber again. In 2006 90%
of its shares were sold to the British Rhinoville Property Limited.
The shareholders and the creditor of Nairit Plant, the CIS
InterStateBank, have launched a $500mln anti-crisis program, with
$100mln to be spent for repaying the debt to the InterStateBank.
Some $400mln will be borrowed from the EurAsEC Anti-Crisis Fund,
with the rest to be invested by the managing company.
The fixed assets of the plant and its major shareholder, Rhinoville
Property Limited, have been given as security against the
InterStateBank's loan.
Nairit Plant has been inoperative since Apr 2010. Its full capacity
is 9,000-10,000 tons of acetylene rubber and 26,100 tons of butadiene
rubber a year. The development program stipulates restarting the
chloroprene rubber production and increasing it to 25,000-30,000 tons
a year - 6-7% of the world market.
Before the late 1980s Nairit produced 10-12% of the world's chloroprene
rubber. In the last years it produced some 6,000-8,000 tons a year.
Rhinoville Property Limited owns 89.999% of Nairit Plant CJSC's
shares, the Energy and Natural Resources Ministry of Armenia - 4.496%,
ArmRusgazprom - 3.596%, Yerevan TPP - 1.907%.
In 2010 Nairit Plant registered a 24.6bln AMD loss against 20.3bln
AMD loss in 2009. In late 2010 the authorized capital of the company
totaled 27,307,055,000 AMD, own capital and liabilities - 84.552bln
AMD against 93.633bln AMD in late 2009.
arminfo
Tuesday, October 18, 18:19
The big Polish company is interested in "Nairit" chloroprene rubber
producing plant, secretary of Armenian National Security Council,
Artur Bagdasaryan, said at today's press-conference in Yerevan.
"Armenia and Poland have already reached certain arrangements
regarding the next steps on deepening of cooperation in the sphere
of economy. But I would like to specially emphasize that a big Polish
company is interested in the "Nairit" plant. Together with our Polish
counterparts we have arranged to do everything possible so that to
fulfill this joint project", - Bagdasaryan said.
For his part, Ambassador of Poland to Armenia Zdislaw Rachinsky said
that over a year the problem of participation of a number of Polish
companies in fulfillment of a large-scale investment programme at the
"Nairit" plant will be resolved.
Nairit was the only producer of chloroprene rubber in the
Soviet Union. In 1989 it was shut down, following protests by
environmentalists. In 1992-1993 the plant was partly restarted. In
2001 it started producing chloroprene rubber again. In 2006 90%
of its shares were sold to the British Rhinoville Property Limited.
The shareholders and the creditor of Nairit Plant, the CIS
InterStateBank, have launched a $500mln anti-crisis program, with
$100mln to be spent for repaying the debt to the InterStateBank.
Some $400mln will be borrowed from the EurAsEC Anti-Crisis Fund,
with the rest to be invested by the managing company.
The fixed assets of the plant and its major shareholder, Rhinoville
Property Limited, have been given as security against the
InterStateBank's loan.
Nairit Plant has been inoperative since Apr 2010. Its full capacity
is 9,000-10,000 tons of acetylene rubber and 26,100 tons of butadiene
rubber a year. The development program stipulates restarting the
chloroprene rubber production and increasing it to 25,000-30,000 tons
a year - 6-7% of the world market.
Before the late 1980s Nairit produced 10-12% of the world's chloroprene
rubber. In the last years it produced some 6,000-8,000 tons a year.
Rhinoville Property Limited owns 89.999% of Nairit Plant CJSC's
shares, the Energy and Natural Resources Ministry of Armenia - 4.496%,
ArmRusgazprom - 3.596%, Yerevan TPP - 1.907%.
In 2010 Nairit Plant registered a 24.6bln AMD loss against 20.3bln
AMD loss in 2009. In late 2010 the authorized capital of the company
totaled 27,307,055,000 AMD, own capital and liabilities - 84.552bln
AMD against 93.633bln AMD in late 2009.