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ROSNEFT COMPANY NEGOTIATING WITH ARMENIAN GOVERNMENT FOR REACTIVATION OF NAIRIT PLANT
http://www.arminfo.am/index.cfm?objectid=5267C4A0-B0CE-11E2-BCCFF6327207157C
Monday, April 29, 17:10
Rosneft Company, Russian, is currently negotiating with the Armenian
Government for modernization and reactivation of Nairit Plant CJSC,
the only producer of rubber in the CIS, Hrach Tadevosyan, Head of
Nairit Plant Trade Union told several dozens of the plant's employees
picketing the Government building on Monday.
Tadevosyan said that he met with the deputy minister of energy and
natural resources of Armenia Ara Simonyan and introduced the demands
of the picketers. In particular, the employees of the plant demand
their salaries for the last two months and information on the fate
of the plant that has been idling for already 3 years. He said that
Rosneft Company leadership had recently met with the president and
prime minister of Armenia and, as he was told in the government,
the Russian company is currently studying the situation on the plant,
the mechanisms of supply of raw materials and sales, as well as the
financial situation. Big investments are in question, Tadevosyan said.
(It was reported earlier that the Russian petroleum company Rosneft
and the Armenian Oil Techno CJSC signed an agreement on creation of
a JV on April 4 in Yerevan).
As regards the salaries, Tadevosyan said, the arrears for March will
be repaid on Friday and those for April will be paid in May. The plant
has been idling for three years. Arrears of wages for 11 months have
been accumulated. The monthly salary fund is $1 million, Tadevosyan
said. By data of the plant's press-service, the total debt of the
company is nearly $120 million. These are mainly loan debts. Some
employees of the plant say it is dangerous to reactivate the plant
without prior technological modernization. The plant employs 2700
people, with 1300 being on enforced leave. The average monthly salary
at the plant is 157,000 drams.
In 2006, 90% of the shares of "Nairit" were sold to British Consortium
Rhinoville Property Limited for 40 million US dollars. Rhinoville
Property Limited holds 89,999% shares in the plant, the Armenian
Ministry for Energy and Natural Resources - 4.496%, and ArmRusgasprom -
3.569%, Yerevan TPP - 1.907%. The fixed assets of the plant and the
major shareholder Rhinoville Property Limited were put in pledge at
Mezhgosbank, Russia, and were transferred to the bank after the company
failed to redeem the loan. The loan in the amount of $70 million was
provided in 2006 on security of the plant for a period of 5 years
(till Dec 2011) at the annual interest rate of 12.5%.
Earlier Russian media reported that in May, the Moscow Arbitration
Court will hear Mezhgosbank's lawsuit against the owner of Nairit Plant
CJSC, Rhinoville Property Limited, in the amount of $25.183 million.
From: Emil Lazarian | Ararat NewsPress
http://www.arminfo.am/index.cfm?objectid=5267C4A0-B0CE-11E2-BCCFF6327207157C
Monday, April 29, 17:10
Rosneft Company, Russian, is currently negotiating with the Armenian
Government for modernization and reactivation of Nairit Plant CJSC,
the only producer of rubber in the CIS, Hrach Tadevosyan, Head of
Nairit Plant Trade Union told several dozens of the plant's employees
picketing the Government building on Monday.
Tadevosyan said that he met with the deputy minister of energy and
natural resources of Armenia Ara Simonyan and introduced the demands
of the picketers. In particular, the employees of the plant demand
their salaries for the last two months and information on the fate
of the plant that has been idling for already 3 years. He said that
Rosneft Company leadership had recently met with the president and
prime minister of Armenia and, as he was told in the government,
the Russian company is currently studying the situation on the plant,
the mechanisms of supply of raw materials and sales, as well as the
financial situation. Big investments are in question, Tadevosyan said.
(It was reported earlier that the Russian petroleum company Rosneft
and the Armenian Oil Techno CJSC signed an agreement on creation of
a JV on April 4 in Yerevan).
As regards the salaries, Tadevosyan said, the arrears for March will
be repaid on Friday and those for April will be paid in May. The plant
has been idling for three years. Arrears of wages for 11 months have
been accumulated. The monthly salary fund is $1 million, Tadevosyan
said. By data of the plant's press-service, the total debt of the
company is nearly $120 million. These are mainly loan debts. Some
employees of the plant say it is dangerous to reactivate the plant
without prior technological modernization. The plant employs 2700
people, with 1300 being on enforced leave. The average monthly salary
at the plant is 157,000 drams.
In 2006, 90% of the shares of "Nairit" were sold to British Consortium
Rhinoville Property Limited for 40 million US dollars. Rhinoville
Property Limited holds 89,999% shares in the plant, the Armenian
Ministry for Energy and Natural Resources - 4.496%, and ArmRusgasprom -
3.569%, Yerevan TPP - 1.907%. The fixed assets of the plant and the
major shareholder Rhinoville Property Limited were put in pledge at
Mezhgosbank, Russia, and were transferred to the bank after the company
failed to redeem the loan. The loan in the amount of $70 million was
provided in 2006 on security of the plant for a period of 5 years
(till Dec 2011) at the annual interest rate of 12.5%.
Earlier Russian media reported that in May, the Moscow Arbitration
Court will hear Mezhgosbank's lawsuit against the owner of Nairit Plant
CJSC, Rhinoville Property Limited, in the amount of $25.183 million.
From: Emil Lazarian | Ararat NewsPress