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Zakharova about Karabakh peace process: There are issues that should be hushed up

Naira Zohrabyan to Serzh Sargsyan: Prosperous Armenia Party will win in upcoming parliamentary elections

Masis Mailyan : Baku intends to continue its "military diplomacy" with impunity

Deputy minister: Creation of a joint air defense system with Russia will only strengthen combat ability of Armenian armed forces

South Caucasus Railway CJSC sets car to auction

Beeline improves Smart tariff plans

Armenian political forces express different opinions about influence of possible Moscow-Ankara normalization on Armenia

Areximbank-Gazprombank Group offers 50% discount for renting safe deposits boxes during summer holidays

Sergey Lavrov to travel to Yerevan

Ban Ki-moon: UN concerned over violations of ceasefire in Karbakh conflict zone

Defense sure Zhirayr Sefulyan's arrest is a political order

Sharmazanov explains Serzh Sargsyan's interview: If Armenia's citizens are reluctant to vote for RPA, no one will make them do it

Rostelecom holds two seminars on sidelines of Hartak Festival

Paul Stronski: Yerevan’s security alliance with Moscow will not impede Armenia’s good ties with NATO

Armenian President: Armenia expects wider recognition of Genocide after German vote and pope's remarks

Nikol Pashinyan: Consensus on Electoral Code is ridiculous

Turkey's foreign ministry reacts to Pope Francis' visit to Armenia

By beginning of tourism season Areximbank-Gazprombank Group offers significant discounts of premium class chip cards

Geoteam CJSC is sure that mining industry is compatible with agriculture and small business

UNICEF Armenia launches a breast feeding campaign in Armenia

Activist hits parliamentarian Hrant Bagratyan during picket in front of Parliament against Joint Air Defense system with Russia

Ankara: Turkey wants speedy settlement of Nagorno-Karabakh conflict, which will meet all requirements of Azerbaijan

Turkologist: Ankara has used up all its possibilities to deny Armenian Genocide

Heritage Party: Joint Air Defense with Russia is an attempt to surrender the last elements of Armenia's sovereignty

David Harutyunyan: Next conference of donors will take place in Yerevan on June 29

Frank-Walter Steinmeier to travel to Armenia on June 29

Armenians and Azerbaijanis should take efforts towards peace, Pope Francis says

Opposition MP condemns political persecution against Zhirayr Sefilyan

Ancient Armenian city Ani may become UNESCO World Heritage Site

Tickets for Russian trains can be acquired at Yerevan railway station

"We Are the Owners of Our Country" initiative picketing Parliament building opposing ratification of agreement on joint air defense system with Russia

Pope Francis: "I am happy to have visited Armenia"

Sharmazanov: OSCE MG should react very strongly to Aliyev's refusal to implement arrangements made in Vienna and St. Petersburg

Pope Francis leaves Armenia ending his pastoral visit

Pope Francis and Catholicos of All Armenians visit Khor Virap Monastery at the foot of Ararat and launch doves of peace

Aliyev says Azerbaijani armed forces seized part of Karabakh districts during April aggression

Serzh Sargsyan: Pope Francis' calls for peace and tolerance are a powerful signal for peaceful settlement of regional problems

Serzh Sargsyan: I am sure we will find the best possible option of settlement for Nagorno-Karabakh people

President of Armenia calls on Armenians worldwide to unite to settle the three fundamental issues of the Armenian people

Karekin II and Pope Francis sign Common Declaration: "We express our hope for a peaceful resolution of the issues surrounding Nagorno-Karabakh"

Armenian President: We are grateful to Pope Francis for visiting Armenia and showing warm attitude to Armenian people

Vatican reacts to Turkey’s criticism: “Pope has never been on a Crusade, he tries to build peace rather than to wage war”

Pope Francis: “May the Armenian Church walk in peace and may the communion between us be complete.”

Karekin II: The processes of secularism are intensifying, spiritual and ethical values and views are distorted, and the family structure, established by God, is being shaken

Pontifical Divine Liturgy underway in the Mother See of Holy Etchmiadzin at the St. Trdat Open Air Altar

Ilham Aliyev: Nagorno-Karabakh will never get independence

Karekin II: More practical steps must be taken by Christian churches on the road to searching for peace

Pope to Armenian people: Your sufferings are our own

Pope Francis participates in ecumenical meeting with Patriarch of Armenian Apostolic Church, Karekin II, in Yerevan

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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