New chemical plant construction to start in Armenia this year – president

New chemical plant construction to start in Armenia this year – president

YEREVAN, February 17. /ARKA/. Construction of a new chemical plant will be launched in Armenia this year, president Serzh Sargsyan said at a congress of sociopolitical Erkrapah Union of Volunteers Saturday.

If some instigators do not mislead Nairit staff, the construction will start this year, president said adding preliminary agreements are made and design works are completed.

Sargsyan also said the old Nairit plant may be re-commissioned.

Nairit was the only plant in the Soviet Union producing chloroprene rubber. The plant was closed in 1989 for environmental reasons and resumed operating partially in 1992. 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. The plant operations were suspended in 2010. 

On December 25, 2013, Rosneft, Pirelli Tire Russia and Rosneft-Armenia signed a memorandum of understanding in Yerevan to set up a joint venture for butadiene-styrene rubber production. Armenia’s premier was cited as saying Rosneft was planning to invest 400 million dollars in construction of a new plant in Armenia. Russian ambassador to Armenia Ivan Volinkin said specialist form Nairit will be demanded in the new plant. –0--

13:10 17.02.2014

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