Armenian premier vows to punish those responsible for Nairit imbroglio

Armenian premier vows to punish those responsible for Nairit imbroglio

YEREVAN, July 29. /ARKA/. Armenian Prime Minister Hovik Abrahamyan, talking to journalists in his trip to Dilijan, promised to punish those responsible for the crisis at Nairit chemical plant, on which the Cabinet made a decision on Thursday.  

The Cabinet ministers approved the Nairit asset handover decision as met Thursday for a regular session. 
The decision implies the handover of 53.27% of Nairit-2 CJSC’s assets worth AMD 7320.8 million and Nairit Plant’s 3.5967% worth AMD 983.4 million to Vorotan Cascade of hydro power plants for debt.  
It means the debt of Armgazprom that runs Nairit will be considered repaid. 

The Cabinet also decided that budget loans and other liabilities of Armgazprom to the Armenian finance ministry will be repaid by handing a part of its assets over to the government. The right of claiming all the accounts receivable to the defense ministry, Tech-Stepanakert Gas Pipeline and 46.73% of Nairit-2 CJSC’s assets is included here as well.  

As a result, 46.73% of Nairit-2 CJSC and Tech-Stepanakert Gas Pipeline will be owned by the Armenian energy and natural resources ministry and run by the energy minister.  

The press office of the government quoted Hovik Abrahamyan as saying that the government will keep its eye on the processes. “If there were people guilty of these developments, they will answer for that,” he said. 

Nairit, the only plant in the Soviet Union to produce chloroprene rubber, was closed in 1989 for environmental reasons and resumed operating partially in 1992. 

In 2001, some production facilities were separated from the plant for producing chloroprene rubber and a debt-free enterprise based on them was established.  

In 2006, 90% of Nairit’s shares were sold to British Rainoville Property Limited for $40 million. The remaining 10% belong to the Armenian government. In April 2010 the plant ceased operating. --0----

13:31 29.07.2014

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