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  • Nairit Fate Is Unknown

    NAIRIT FATE IS UNKNOWN

    Story from Lragir.am News:
    http://www.lragir.am/engsrc/economy25089.html
    Published: 16:27:19 - 09/02/2012

    The modernization plan of Nairit Chemical Plant of Yerevan is under
    consideration, said Minister of Energy and Natural Resources Armen
    Movsisyan to Lragir.am. Foreign experts are invited to Armenia to
    give a final assessment to the worked out project, he said.

    "If the project is positive, it will be presented. The assessment
    should be based on how right and modern the project is", said the
    minister without providing further details. According to him, the
    project supposes an investment of over USD 400 million in the plant.

    The Minister rejected the information on the ongoing staff reduction,
    in particular, of the leadership, in the plant.

    Nairit Plant has huge debts and does not work at this moment, and
    the employees are jobless at this moment without having received the
    salaries of previous months. The press secretary of the plant Anush
    Harutyunyan said rumors on reductions are just talks. She says the
    plant has not paid the salaries for 5 months.

    Recall 90% of Nairit shares is owned by Rhinoviille Property Ltd
    consortium, 10% - government of Armenia.

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