by Alexandr Avanesov
Nairit Plant employees plan another action of protest for 21 May demanding the Plant to pay arrears of wages. The Movement "Will" is the initiator of the protest action.
The founder of the Movement Artashes Avetisyan urges everyone to join the fair demands of the Nairirt Plant employees to provide them with work and to pay arrears of wages. "We don't need false promises of the authorities. Let them match words with deeds," Avetisyan says.
Earlier on 12 February, now ex-Minister of Energy and Natural Resources Armen Movsisyan promised that the Plant's destiny will shortly be decided due to Rosneft's efforts. According to ArmInfo's information, Rosneft has expressed an intention to build a new rubber plant instead of upgrading the current plant and repaying its debts. It is not ruled out that part of the Nairit specialists will be employed at the new plant.
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 over $130 mln.