Government ready to provide tax breaks to Russian Rosneft –prime minister

Government ready to provide tax breaks to Russian Rosneft –prime minister

YEREVAN, February 26. / ARKA /. The Armenian government is ready to provide tax breaks to Russian state-owned  Rosneft , which pledged to invest $500 million in construction of a new chemical plant in Armenia,  Prime Minister Tigran Sargsyan  said today.

The prime minister said tthe Russian company will employ the personnel of Nairit chemical plant in Yerevan that has been idle for several years already.

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.  Rhinоville Property Limited has been co-founded by the Samex Company (Poland), Intertex (USA) and Evrogaz (Russia). 

In April 2010 the plant stopped producing rubber. Before the halt, the plant sold its products abroad – chloroprene rubber was exported to EU countries, Russia (about 30% of the exports), the United States and 20 other countries. 

Last December 25  Russian  Rosneft, Pirelli Tyre Russia and Rosneft- Armenia signed in Yerevan a memorandum of understanding today to establish a joint venture for production of butadiene- styrene rubber. The memorandum and several other agreements aimed at enhancing cooperation were signed after the meeting of Armenian President Serzh Sargsyan with Rosneft head Igor Sechin. -0-

19:41 26.02.2014

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