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Mass media: Activist Ani Navasardyan detained on charge of provoking mass unrest

Serviceman of NKR Defense Army killed from adversary's shot

Group of journalists arrives at seized building of the Police Patrol Service Regiment

Investigative Committee: Charges pressed against three citizens of Armenia for participation in mass disorders

"Sasna Tsrer" released the rest two hostages -Osipyan and Yeghiazaryan

Russian Foreign Ministry criticized EU's statement on events in Yerevan

Major General Vitaly Balasanyan provides details of his meeting with "Daredevils of Sasoun"

Armenian Foreign Ministry verifying if there were citizens of Armenia among Munich shooting casualties

National Security of Armenia confirms: Members of armed group voluntarily release two of four hostages

National Security Service of Armenia says two persons tied to armed group detained

Nikol Pashinyan: Levon Ter-Petrosyan and Serzh Sargsyan plot yielding territories around Nagorno Karabakh to Azerbaijan

"Daredevils of Sasoun" reportedly releases two of four hostages

NKR Defense Army soldier wounded, as Azerbaijan violates ceasefire

Armenia and UAE sign agreement to boost and protect investments

Sharmazanov: It is more likely that Kura River changes its course and falls into Black Sea than Karabakh becomes part of Azerbaijan with any status

Galust Sahakyan: Talks on possible resignation of Armenian government are rumors

Russian political scientist: Destabilization of situation and pressure on authorities prevail in "Sasna Tsrer" group's actions

Statements that five districts adjacent to Nagorno Karabakh will be passed to Azerbaijan exert pressure on the process, Bryza says

Levon Ter-Petrosyan: It is senseless to analyze the reasons that led to armed seizure of state building

President: In Armenia problems are not settled through brutal force and hostage taking - this situation continues longer than we can afford

Serzh Sargsyan: Punishment of those guilty inevitable

Newspaper: After talks with "Daredevils of Sasoun," Vitaly Balasanyan met with Serzh Sargsyan

Social media warn: physical attack prepared on Nikol Pashinyan

Views from Tel Aviv: Loss of control over country may push external powers to settle Karabakh conflict not in favor of Armenian people

Armenia's Defense Ministry confirms: Azerbaijani side targets school in near border village of Movses

Maria Zakharova slams Armenian and Azerbaijani journalists

Azerbaijan keeps intensively violating ceasefire on Line of Contact

Republican Party of Armenia for peaceful resolution of standoff and hostage situation in Yerevan

Night was calm near seized building of Patrol Police Station in Yerevan

Government of Armenia dismisses idea of creating "Aviation Code"

Cyber security specialists to be trained in Armenia with support of Kaspersky Lab

Zakharova: Moscow hopes process around Nagorno Karabakh will not lose its dynamics

Paul Goble says Moscow has lost its interest in Christian Armenia and is moving to increase its ties with majority Shia Islamic Azerbaijan, Armenia's longtime enemy, and now with Sunni Turkey

Vartan Oskanian sees the solution to the current situation in Yerevan in political field only

Meeting of Vitaly Balasanyan and armed loyalists of jailed oppositionist is over; no details are reported

Maria Zakharova: We support measures taken by Armenia's authorities over seized Patrol Service Regiment in Yerevan

EU Delegation in Armenia makes a statement on recent events in Armenia

Forecast: Russian policy's stagnant Armenian vector fraught with "Ukrainization" of Armenia

Authorities send Vitaly Balasanyan to rebels as negotiator

View from Moscow: Role of April war in current protests in Armenia should not be underestimated

Healthcare Minister: None of those suffered in clashes at Khorenatsi Street is in extremely critical condition

Ara Abrahamyan: Situation in Yerevan demonstrates that there is a need for dialog between society and authorities

Azerbaijani side did not lead OSCE mission to its frontlines during planned monitoring of Line of Contact

Armenia's Economy Minister calls for tolerance and reasonableness

Analyst: In negotiations with Zhirayr Sefilyan's supporters authorities should consider factor of weapons fallen in the rebels' hands

Investigative Committee: 16 people arrested on suspicion of participating in mass disorder at Khorenatsi Street

In H1 2016, Anelik Bank increased deposit portfolio by 13.5% y-o-y due to significant growth of private deposits

Adversary continues to intensively violate ceasefire on Line of Contact

Armenian Police gives explanations related to clashes at Khorenatsi Street overnight

Police: 136 people detained following clashes at Khorenatsi Street

Regional

European investors express willingness to elaborate a program on rehabilitation and commissioning of Nairit Plant

  • by Arthur Yernjakyan

  • Tuesday, June 24, 22:24

On June 23, European entrepreneurs and investors visited the idle Nairit Plant in Armenia and expressed their willingness to elaborate a program on rehabilitation and commissioning of the Plant, reports the Forum of Armenian Associations of Europe (FAAE), which organized the Europeans' visit to Armenia.     

The European delegation included experts specializing in rehabilitation and management of crisis-affected enterprises. The specialists got acquainted with the situation at the Plant and decided to work out a program for rehabilitation and commissioning of the Nairit Plant. The idea arose after the Armenian state officials directly stated that they "were washing hands" of Nairit and leaving it to Moscow's discretion. 

FAAE President Ashot Grigorian said that such a behavior of the Armenian Government demonstrates that the officials feel no responsibility for their country.
Earlier the Armenian officials were reliant on Rosneft (Russia), which was going to invest in Nairit Plant.  However, the Russians' interest has exhausted after long negotiations. In addition, Rosneft and Pirelli (Italy) have recently signed a Memorandum of Understanding on production and delivery of synthetic rubber to Nakhodka (Far East). Moreover, Pirelli has a distributor in Armenia, which sells the Italian manufacturers' tires.        

In 2006 90% of Nairit's shares were sold to Rhinoville Property Limited for 40 million USD, with the remaining 10% belonging to the Government of Armenia. In April 2010 the production at the plant was stopped. The Plant's shares are pawned and the Plant is undergoing legal proceedings.

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