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One of Orange subscribers to become the VIP guest of Cannes Film Festival

Vazgen Sargsyan's brother appointed Advisor to Armenian Defence Minister

RPA minister: If Kocharyan wants to return to the politics, let him do that openly

Serzh Sargsyan: Not one drop of Lake Sevan water goes to Azerbaijan

"Hraparak": Artur Bagdasaryan appointed as a head of CSTO Academy Council

Within the frames of charitable action Anelik Bank staff gathers 1 billion AMD to help Kessab Armenians

Armenia on the second position among post-Soviet countries by the number of EU visa denials

Director of Ichthyology and Hydroecology Institute: Higher maximum admissible level of water release from Sevan to have a negative effect on the lake's ecosystem

Hraparak newspaper: Tigran Sargsyan will be appointed Armenia's Ambassador to USA

Karen Karapetyan has no intention to take any post in the government staff

Serzh Sargsyan has not yet offered parliament speaker's position to Galust Sahakyan

Hovik Abrahamyan: Pension reform in Armenia must be mandatory, but not binding

Serj Tankian: Both Armenians and Turks deserve leaders and governments

Hovik Abrahamyan introduces the newly appointed Economy Minister Karen Chshmarityan

Vacheh Gabrielyan appointed top advisor to prime minister of Armenia

Successful experience of first two Ameria Generation projects of 2012-2013 encourages Ameriabank to launch the third project in 2014

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Gagik Tsarukyan: Consultations between political forces and civil sector underway

Oppositionist: Serzh Sargsyan shuts down for Robert Kocharyan the way towards the power

Laura Bagdasaryan: Having proclaimed me Mata Hari, the authorities of Azerbaijan are striving to put the lid on the people's diplomacy

In Q1 2014 Areximbank-Gazprombank Group registers net profit of 289mln AMD

Politician: President of Armenia does not want to fray relations with the West. For this reason, he does not recall his signature from under the Armenian-Turkish Protocols

Robert Kocharyan: Constitution should be reformed only in case if it must not but be reformed

Council of Field Commanders to convene in Republican Square on 23 April

Hraparak newspaper: Galust Sahakyan to head parliament

Robert Kocharyan: Regretfully, Serzh Sargsyan did not perceive the difference between sincere concern over country's fate and exulting over poor performance of the authorities

New parliament speaker and ministers may be named at RPA Executive Body's meeting on 26 April

Armenian President visits Teghut copper and molybdenum mine

Armenian PM: Support of business will be a top priority for us

Well-known French filmmaker Robert Gedikian shoots film about Armenian Genocide

Newspaper: Armenian Government to shortly ease tax burden on SMEs

Newspaper: Prime Minister Hovik Abrahamyan will shortly urge officials and parliamentarians to refuse from salary increase

David Haroutiunyan appointed as Government Chief of Staff

Regional

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German Chancellor Invites Garibashvili to Visit her Country

Georgian Foreign Minister to Visit Germany

Georgian Foreign Minister Attends International Conference in Vilnius

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NATO Week in Georgia Starts Today

Discussion of the Azerbaijani-Iranian relations on Culture and Tourism

Chief of General Staff of the RF to visit Baku

Ilham Aliyev will visit NAR

Georgian Premier Starts his Regional Tour

Georgian President to Hold Talks in Poland

Georgian Prime Minister Meets with EU Special Adviser

Erdogan is arriving in Baku

Simplification of the visa regime between the EU and Azerbaijan may occur in the summer

U.S. Embassy: Any allegations that US government representatives are trying to foment a revolution in Azerbaijan are absolutely absurd

Foreign Minister of Afghanistan to Pay Official Visit to Georgia

Georgian Foreign Ministry Makes Strict Statement, Concerning Referendum in the Crimea

President Margvelashvili Meets Georgian Troops, Deployed in Afghanistan

Georgian Premier and Afghan Foreign Minister Discuss Two Countries' Relations

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Analyst: The USA invested $5 billion to directly support Maidan

Georgian Ambassador to Japan Hands over Credentials to His Imperial Majesty Emperor Akihito of Japan.

Tbilisi Hosts Annual PDP Conference

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Georgian Ambassador to Lithuania Addresses Seimas

Iranian Deputy Foreign Minister in Baku

Gerhard Schroeder will make a speech in Baku

Putin is unable to persuade the leader of the Crimean Tatars

Georgian Defence Minister Attends NATO Defence Ministerial

Saakashvili is Offered High Post in Kiev

Rosneft is ready to invest $400 mln in construction of a tyre plant in Armenia

  • by Arthur Yernjakyan

  • Friday, December 27, 17:13

Rosneft is ready to invest in 400 mln USD in construction of a tyre plant in Armenia, Prime Minister of Armenia Tigran Sargsyan said at the Dec 27 press conference.   

He said that the tyres will be made of rubber, and rubber production will be re-launched at Nairit Plant.  (Due to financial problems, Nairit has been idle since 2010 - editor's note). Pirelli (Italy) will also take part in the creation of the new enterprise. The Premier added that Armenia is currently negotiating on creation of the new plant and on redemption of Nairit's debts. 

It was reported earlier that in October 2013 Jacobs (UK) competed the environmental audit of Nairit Plant CJSC, the sole rubber manufacturer in the CIS. The audit was commissioned by Rosneft (Russia), which is gong to re-launch butadiene technology of rubber production at the Armenian chemical plant. To recall, the Plant used the butadiene technology of rubber production in the 1970s. In the 1990s it switched to the acetylene technology. The Plant has been idle since 2010. The design capacity of the Nairit is 9-10 thsd tons of acetylene rubber and 25-26 thsd tons of butadiene rubber per annum.

y the end of the 1980s the Plant covered 10-12% of the world market. In 2006, 90% of the company's shares were sold to Rhinoville Property Limited (UK). Now 89.999% of Nairit Plant's shares belong to Rhinoville Property Limited, and the remaining 4.496% - to the Armenian Ministry of Energy and Natural Resources, 3.596% - to ArmRusgasprom CJSC, and 1.907% - to the Yerevan Thermal Power Plant. The fixed assets of the Plant and its major shareholder Rhinoville Property Limited passed into the ownership of the Interstate Bank due to non-redemption of a loan. The loan ($70 mln) was provided in 2006 for 5 years - till the end of December 2011 at 12.5% p.a. The Plant's current debt is $130 mln. 

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