Newsfeed

Armenian National Congress calls on the citizens to join the campaign against rising energy costs on May 27

Armenia's simultaneous cooperation with NATO and CSTO creates no problems, a German official says

Orange Foundation continues community development projects in Syunik region

"Rusastanyan 20" and "Rusastanyan 35" Beeline services available for postpaid subscribers

American Congressman: Menace of Terrorism and Radical Islam might Unite Armenians and Azerbaijani

Diplomatic source: Final declaration of Riga summit should be a consensus document that would refer to the views of Armenia and Belarus

"No to Robbery" to hold a motor rally on May 23

Belgian prime minister says Armenian Genocide did happen and no one in Belgium thinks differently about it

VTB Bank (Armenia) offers "Super-rate" offer - conscientious borrowers regain 10% of the loan interest paid

"Eastern Partnership" Declaration Unanimously Adopted with only UN Countries Endorsing the Wording on "Annexation of Crimea"

Latvian FM says Armenia and Azerbaijan can claim visa liberalization with EU, if they meet all the necessary requirements

European Commissioner: Cross-border cooperation between Armenia and Azerbaijan to open up new opportunities for Karabakh conflict settlement

OSCE Planned Monitoring: Azerbaijan fails to lead monitoring mission to frontline

William Lahue: NATO's Cooperation with Partners not Against Russia's Interests

ESCAP Forecasts 0.9% Growth of Armenia's Economy and 4.7% of Inflation

President of Armenia: Nagorno Karabakh has no relation whatsoever to Azerbaijan's territorial integrity

Conditioned by Wording on Artsakh Azerbaijan Refused to Sign "Eastern Partnership" Declaration

Ara Nranyan stresses the need to avoid unreasonable stimulation of import and regressive closure of markets

The Number of Operating Air Carriers in Armenia Decreased from 35 to 27 since the "Open Skies" Policy Implementation

30 people interrogated under case of attempted assassination of Syunik Governor

Edward Sharmazanov: Genocide of Armenians, Pontics and Assyrians is a Disgraceful Page of Human History

Armenian-German Forum has been Launched in Bundestag

Ashot Ghulyan Re-elected as Speaker pf Artsakh Parliament

South Caucasus Railway launches sale of Yerevan-Batumi-Yerevan tickets

Businessman Tigran Karapetyan to Bring Suit against Adviser to Syunik Governor for Slander

Azerbaijan Trying to Hinder the NATO Seminar in Yerevan

Armenian Government Endorsing a Draft Document with Microsoft

German Chancellor says Germany respects Armenia's point-of-view

Human rights defender: To fight tortures of suspects, legislative reform is needed in Armenia

Polish MP says friendly relations with Armenia have always been important to Poland

Oppositionist slams Prosecutor General for concealing Syunik Governor's crimes

Armenian delegation participates in NATO Military Committee meeting in Brussels

European Organizations to Allocate about 8.07 Mln EUR to Armenia for Garbage Collection

Reuters: As Armenia and Belarus refuse to sign up the statement on Crimea, EU diplomats say compromise text would be put to them

Dunja Mijatovic: In Armenia, Azerbaijan, and Belarus freedom of media under threat

Shootings Towards Syunik Governor's Car

On May 21 Serzh Sargsyan Will Leave for Latvia to Participate in the Riga Summit

Armenia among Eurovision finalists

Howard Stevenson: We believe investments like Amulsar will be key to raising the bar

VTB Bank (Armenia) funds construction of Progress Agro greenhouse facility

U.S. Ambassador Marks International Day Against Homophobia

"Ecotomato" Company's New Greenhouse was Opened with Financial Support from VTB Bank (Armenia)

Man Attacked by Syunik Governor's Son Loses His Eye

Newspaper: Armen Ashotyan to be appointed as Secretary of National Security Council

ACBA: A Year with and without Stepan Gishyan

"Stepan Gishyan" Benevolent Fund Set Up Upon the Initiative of ACBA-Credit Agricole Bank

Gagik Tsarukyan's guard pressing Abovyan residents protesting against oligarch's actions

Vanadzor Chemical Plant waiting for new investor

  • by Marianna Mkrtchyan

  • Wednesday, September 3, 13:10

Idling Vanadzor Chemical Industry CJSC is negotiating with a new investor for reactivation of the plant, Alexander Snegirev, Director General of the Company, told ArmInfo.

 

He said that plant is idling for debts exceeding 4 bln drams. He said these are debts for energy resources, to suppliers and arrears of wages. The plant has 160 million arrears of wages, Snegirev said.  "At present, we are negotiating with the investor for the funds to pay arrears of wages and reactivate the plant," he said.

 

The plant has never worked consistently and regularly accumulated debts. The company's staff has been repeatedly rallying demanding their wages lately. The last time, the workers held a protest action in early August, when Prime Minister Hovik Abrahamyan visited the plant. The prime minister said the plant is a private property and the issue of wages is not within his competence. However, he promised, at least, a month-salary to the workers. Quite recently, the workers received salary for a month.  It is noteworthy that the prime minister could not name the owner of the company to reporters.  So, it is not clear where the funds were taken from to pay a month-salary to the workers. A question arises as to whether the salary was paid from the state budget and why the government redeems the debts of a private company. 

 

According to local media outlets, negotiations are held with a British company for investments in Vanadzor Chemical Plant. Later, there were reports on a Georgian investor. However, neither the new nor the current shareholders of the plant are named.

 

It was reported earlier that in 2007, the shares of the Vanadzor Chemical Plant were purchased for $25 million by Roding International Limited, Russia. Recently, some media reported that the company's shares belong to a certain Galiana Kozlova.

Send to a friend

To (e-mail)


Your name


Message


Comments

View comments (0)
  • READ ALL COMMENTS
  • POST A COMMENT

Be first to comment on this article

* Indicates required fields
Most commented