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STATEMENT BY THE WORLD BANK YEREVAN OFFICE
Lragir.am
Business - 19 February 2015, 12:17
Armenia's future economic growth highly depends on the development of
a vibrant modern knowledge-based economy, foreign direct investments,
and several other factors, including addressing adequately the legacy
of economic activities in the previous era. We understand that in
this regard critical discussions are underway within the Government of
Armenia regarding the best options available to resolve long-standing
challenges in the energy and industrial sectors.
To support the Government in this process, the World Bank has
agreed to identify and bring on board a highly respectable and
globally-experienced consulting firm to assess the technical and
financial viability of Nairit chemical plant operation. The anticipated
technical and financial analyses, as well as a basic environmental
assessment, will be provided to the Government in order to make
important choices about the future of the plant.
"We have agreed with the Government to mobilize grant resources
of more than $110,000 from within the World Bank for the proposed
expertise that will ensure the quality of analyses the counterpart
needs from internationally recognized experts," clarified Laura E.
Bailey, World Bank Country Manager for Armenia. "We had hoped to have
the work begin in early February, but it took some time to ensure
that we selected the best possible experts".
Throughout the first phase, which is scheduled to begin on 25 February
and take two and a half months, the consulting firm will specifically
review four elements:
* An overview of the global market for the main products that could
be produced by the plant;
* An assessment of the technical feasibility of production based on
the existing plant;
* An assessment of the financial viability of production given
current cost structures; and
* A strengths-weaknesses-opportunities-threats (SWOT) analysis.
In the second phase, a basic environmental review of Nairit operations
will be undertaken.
The World Bank will provide close monitoring and quality review for
this analysis of Nairit, however we would like to clarify that this
analytical work will be conducted under the leadership of the Minister
for Energy and Natural Resources as part of the cooperation between
the Government of Armenia and the World Bank.
http://www.lragir.am/index/eng/0/economy/view/33653#sthash.R5vewSOW.dpuf
Lragir.am
Business - 19 February 2015, 12:17
Armenia's future economic growth highly depends on the development of
a vibrant modern knowledge-based economy, foreign direct investments,
and several other factors, including addressing adequately the legacy
of economic activities in the previous era. We understand that in
this regard critical discussions are underway within the Government of
Armenia regarding the best options available to resolve long-standing
challenges in the energy and industrial sectors.
To support the Government in this process, the World Bank has
agreed to identify and bring on board a highly respectable and
globally-experienced consulting firm to assess the technical and
financial viability of Nairit chemical plant operation. The anticipated
technical and financial analyses, as well as a basic environmental
assessment, will be provided to the Government in order to make
important choices about the future of the plant.
"We have agreed with the Government to mobilize grant resources
of more than $110,000 from within the World Bank for the proposed
expertise that will ensure the quality of analyses the counterpart
needs from internationally recognized experts," clarified Laura E.
Bailey, World Bank Country Manager for Armenia. "We had hoped to have
the work begin in early February, but it took some time to ensure
that we selected the best possible experts".
Throughout the first phase, which is scheduled to begin on 25 February
and take two and a half months, the consulting firm will specifically
review four elements:
* An overview of the global market for the main products that could
be produced by the plant;
* An assessment of the technical feasibility of production based on
the existing plant;
* An assessment of the financial viability of production given
current cost structures; and
* A strengths-weaknesses-opportunities-threats (SWOT) analysis.
In the second phase, a basic environmental review of Nairit operations
will be undertaken.
The World Bank will provide close monitoring and quality review for
this analysis of Nairit, however we would like to clarify that this
analytical work will be conducted under the leadership of the Minister
for Energy and Natural Resources as part of the cooperation between
the Government of Armenia and the World Bank.
http://www.lragir.am/index/eng/0/economy/view/33653#sthash.R5vewSOW.dpuf