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President of Armenia: We have prepared many surprises for hotheads in Azerbaijan

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Expert: Turkish president will not change his rhetoric on threshold of Centenary of Armenian Genocide

Edward Nalbandian: Doubts about Baku's reasonableness are growing with every passing day

SME representatives demand that Armenian Government should suspend Law "On Turnover Tax"

Three Azeri soldiers killed and two wounded as a result of ceasefire violation by Azerbaijan

Turcologist: No serious events in Armenia on threshold of Centenary of Armenian Genocide are observed yet

NATO plays no role in Karabakh conflict settlement but supports OSCE Minsk Group's efforts

Armenia's Defense Ministry: It was relatively calm on NKR-Azeri contact line last night

Retail gasoline prices drop again in Armenia

Over 20 members of ARFD break away from the party

Armenian MP: EBRD's forecast that Armenian economy will stagnate in 2015 was a political put-up job

Armenia's Defense Ministry: Armenian armed forces destroy a group of Azeri raiders in Tavush region

Armenia's involvement in Eurasian Economic Union does not look too promising

German Government considers Armenia's invitation to attend Apr 24 commemorations of 100th year of Armenian Genocide

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A bas-relief of Lord George Gordon Byron inaugurated in downtown Yerevan near the head office of ACBA-CREDIT AGRICOLE BANK

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Ameriabank signed the 80th deal under EBRD TFP

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ARDSHINBANK has strengthened its position among the top three of the banking system by all key indicators

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Reiner Morell: Germany is ready to show aid in Karabakh settlement whenever is a need

Each country is free to choose what event to attend, German Ambassador says on Erdogan's invitation

Armenian analyst: Azerbaijan may attack Artsakh and Armenia only if Russia gives it appropriate guarantees

Germany to continue its policy aimed at strengthening cooperation with Armenia

Robert Kocharyan: Armenia needs drastic changes but not a constitutional reform

Armenian Defense Ministry: Armenia's retaliatory measures to Azeri provocation will be tougher

Armenian expert: The tense situation in the Nagorno-Karabakh conflict zone has own logic of development, which has nothing to do with Russia- West relations

Seyran Ohanyan considers full-scale military operations in Karabakh conflict zone to be low probable

Two Armenian servicemen killed as a result of a new Azeri sabotage attack

Member of Russian parliament does not rule out handing over of Permyakov to the Armenian party

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Angela Merkel urges peaceful resolution to Karabakh conflict

As Hepatitis C detected at Kajaran Medial Center, all hospitals in Armenia will undergo strict control

Investigation Committee: Valeriy Permyakov has accepted charges brought against him

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.

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