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Nairit's Uncertain Fate: Even Energy Minister is Short on Specifics
http://hetq.am/eng/news/23415/nairits-uncertain-fate-even-energy-minister-is-short-on-specifics.html
14:21, February 16, 2013
RA Minister of Energy and Natural Resources Minister Armen Movsisyan
seems to be at a loss for words when reporters quiz him about the fate
of the ailing Nairit Rubber Plant.
The only line he's come up with for the past year is that the
government is still negotiating with a company called ITERA
International Energy L.L.C.
Movsisyan's last official pronouncement on Nairit was that everything
would be settled in January. Well, January has come and gone and still
no decision has been reached.
At a press conference yesterday, Minister Movsisyan stated that the
government had approved a program proposed by Jacobs Consultancy Ltd.
to provide technical advice and other professional services.
`All the debt will be paid. As to when, I can't say. It's a very
complicated matter. Nevertheless, discussions between the parties have
taken place and are now being assessed,' Movsisyan told reporters.
In 2011, Nairit shareholders and creditors announced a competitive bid
to appoint a new operator to implement the plant's 2011-2019
development program valued at $400-$500 million.
Last year, the Armenian government and ITERA signed an agreement of
cooperation that led to the creation of a working group tasked with
the effectively implementing the development program.
Minister Movsisyan failed to mention who would be paying the debts of
Rhinoville Property Ltd. or the other millions in loan obligations -
the new operator or the Armenian government?
From: Emil Lazarian | Ararat NewsPress
http://hetq.am/eng/news/23415/nairits-uncertain-fate-even-energy-minister-is-short-on-specifics.html
14:21, February 16, 2013
RA Minister of Energy and Natural Resources Minister Armen Movsisyan
seems to be at a loss for words when reporters quiz him about the fate
of the ailing Nairit Rubber Plant.
The only line he's come up with for the past year is that the
government is still negotiating with a company called ITERA
International Energy L.L.C.
Movsisyan's last official pronouncement on Nairit was that everything
would be settled in January. Well, January has come and gone and still
no decision has been reached.
At a press conference yesterday, Minister Movsisyan stated that the
government had approved a program proposed by Jacobs Consultancy Ltd.
to provide technical advice and other professional services.
`All the debt will be paid. As to when, I can't say. It's a very
complicated matter. Nevertheless, discussions between the parties have
taken place and are now being assessed,' Movsisyan told reporters.
In 2011, Nairit shareholders and creditors announced a competitive bid
to appoint a new operator to implement the plant's 2011-2019
development program valued at $400-$500 million.
Last year, the Armenian government and ITERA signed an agreement of
cooperation that led to the creation of a working group tasked with
the effectively implementing the development program.
Minister Movsisyan failed to mention who would be paying the debts of
Rhinoville Property Ltd. or the other millions in loan obligations -
the new operator or the Armenian government?
From: Emil Lazarian | Ararat NewsPress