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British analyst: Oil will run out, Karabakh conflict will remain

Galust Sahakyan: Armenian Genocide International recognition process has entered a new phase

ANC calls on Armenian Parliament to take step for Founding Parliament Movement members to be set free

British expert: Baku has restricted the wide spectrum of cooperation of Armenian and Azeri NGOs to state- run process

Edward Nalbandian: International community speaking language incomprehensible to Turkey

Views from London: Ankara may recognize Armenian Genocide only if Turkish public demands it

Maria Gulegina visits Yerevan Brandy Company

Human rights organization thanks Nagorny Karabakh authorities for humane treatment of Azerbaijani saboteur

Six American States Adopting a Joint Resolution on Armenian Genocide Centennial

Political Analyst: Process of International Recognition of Armenian Genocide to be Expanded

Cem Terzi: Turkish Society Ripening for the Recognition of Armenian Genocide

Expert: April 24 Showing Scientific and Political Consensus on the Indisputability of the Armenian Genocide

U.S. State Department Representative Does not Know If the U.S. Fear Turkey

Mayor of New York commemorates centennial of Armenian Genocide - "one the worst atrocities of the 20th century"

European Movement adopts a resolution on Armenian Genocide

Ankara: Turkish nation will not forget and forgive Joachim Gauck's statements

Hollande and Aliyev discuss Karabakh conflict

Official Ankara criticizes Obama's stand on events of 1915

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Eiffel Tower and Coliseum went dark in memory of Armenian Genocide victims

Ankara strongly criticizes Francois Hollande's visit to Yerevan

Central Council of Jews in Germany advocates calling events of 1915 genocide

Ankara's Second Response to Putin's Statement on the Recognition of the Armenian Genocide

Vladimir Putin: Armenia and Russia Have Always Been, Are and Will Be Close Allies

Knesset Member Criticizing Israeli Government for Denying Armenian Genocide

Georgian Armenians Demonstrating in Front of Turkish Embassy in Tbilisi

Canadian Prime Minister Calling upon Yerevan and Ankara to Resume Negotiations on Normalization of Relations

Serzh Sargsyan: Ankara made vein attempt to resist or affect larger process related to recognition of genocide

First Commemorative Demonstration on the Armenian Genocide to Take Place in Rome since 1975

Erdogan: Turkey shares Armenians' pain

President of Armenia: I refuse to believe that transitory interests can shatter humanity's dreams of freedom and peace cherished for centuries

Serzh Sargsyan: "Turkey's proposal of establishing the so-called commission of historians has only one goal, which is to delay the process of the Armenian Genocide recognition"

Turkey's Labor Party (EMEK) and some local human rights organizations condemn Genocide of Armenians

Russian expert: Putin's participation in Armenian Genocide Centennial events not to edit Moscow's geopolitical maneuvering

Vladimir Putin: 1.5 mln Armenians were killed, 600 thsd were deported, unique historical monuments and invaluable books and manuscripts were destroyed in 1915

Serzh Sargsyan: "We are ready to embark upon a constructive dialogue with Turkey in case it faces its own history"

Francois Hollande: World community must remember Genocide to prevent it in future

Serbia President: "We have no moral right to forget the Armenian Genocide victims and the shocking facts of the past"

ANCA: Sad spectacle of President Obama playing word games with genocide falls beneath dignity of American people

Foreign Minister of Armenia: German President's statement important contribution to prevention of new genocides

Serzh Sargsyan: Armenia has never declared any territorial claims either to Turkey, or to any other country

Armenian president's interview with Hurriyet: "Turkish authorities taking burden of responsibility for crime perpetrated by authorities of Ottoman Empire"

Presidents of Russia, France, Serbia, and Cyprus arrive at Armenian Genocide Memorial in Yerevan

Google.am honors memory of Armenian Genocide victims

High-ranking representatives of various countries 'forming' a forget-me-not of peace near Armenian Genocide Memorial in Yerevan

Serj Tankian calls on Armenia's leadership to create egalitarian civic society, to get rid of institutional injustices and stop depopulation of Armenia

Obama breaks his word again

Founding Parliament Movement looks to change power in Armenia

Vladimir Putin arrives in Yerevan to commemorate Armenian Genocide martyrs

Bulgarian MP: Bulgaria has refused to discuss the draft resolution on Armenian Genocide under Ankara's pressure

Armenian Minister of Energy: The fate of Nairit Plant will be decided within the next two months

  • by Arthur Yernjakyan

  • Thursday, July 10, 14:09

 The fate of Nairit Plant will be decided within the next two months, Armenian Minister of Energy and Natural Resources Yervand Zakharyan told ArmInfo when commenting on the July 10 action of protest. Over 100 employees of the Plant gathered near the building of the Armenian Government and demanding that the Plant should pay them the arrears of wages.

The minister said that arrears of wages have accumulated over the past 15 months and total about 5 billion drams. The total debt of the Plant is nearly 50 billion drams (about 130 million USD). Zakharyan stressed that at the moment the Ministry is discussing measures to overcome the current situation. "I think the fate of the Plant will be decided within the next 2 months", he said. 

To note, Armenian Prime Minister Hovik Abrahamyan invited the representatives of the Plant to a conversation. The results will be made public later.   
This is not the first action of protest held by Nairit employees. A similar action of protest was initiated on May 21 by the movement "Will". The founder of the movement, Artashes Avetisyan, urged everyone to join the fair demands of the Nairirt Plant employees to provide them with a job and to pay the arrears of wages.  "We don't need false promises of the authorities. Let them match words with deeds," Avetisyan said.

On 25 December 2013, Rosneft, L.L.C. PIRELLI Tyre Russia, and Rosneft Armenia signed a Memorandum of Understanding in Yerevan. The Memorandum envisages creation of a styrene-butadiene rubber (SBR) production joint venture in Armenia. The fixed assets of Nairit Plant and its principal shareholder Rhinoville Property Limited were transferred to Interbank as a result of non-redemption of a loan. The 70 mln USD loan was provided in 2006 against security of the Plant. The latter received the loan for 5 years, i.e. till late Dec 2011, at 12,5% p.a. The current debt of the Plant is $130 mln. 

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