YEREVAN, December 26. /ARKA/. Representatives of Rosneft, Pirelli Tyre Russia and Rosneft-Armenia signed a memorandum of understanding about setting up a joint venture for production of styrene-butadiene rubber in Yerevan Wednesday, the press office of Armenia’s president reported.
The memorandum and a number of other agreements were signed after Armenian president Serzh Sargsyan’s meeting with the head of Rosneft Igor Sechin.
According to earlier reports, Armenia was considering possible involvement of Rosneft in a rubber production project in Nairit chemical plant in Yerevan.
Instructed by Russian president Putin a special delegation arrived in Armenia to assess the current capacities and develop an action plan for modernizing Nairit plant.
Nairit was the only plant in the Soviet Union to produce chloroprene rubber. The plant was closed in 1989 for environmental reasons and resumed operations partially in 1992. In 2006, 90% of Nairit’s shares were sold to British Rainoville Property Lim ited for $40 million. The remaining 10% belong to the Armenian government. The plant suspended its operations in 2010. –0--