YEREVAN, December 25. / ARKA /. Representatives of 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 press service of Armenian president said.
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.
At the order of Russian President Vladimir Putin a special delegation has arrived in Armenia to assess the available opportunities and develop specific action program to modernize Nairit chemical plant in Armenia.
In 2006, 90% of Nairit’s shares were sold to British RHinoville Property Limited for $40 million. The remaining 10% belong to the Armenian government. RHinоville Property Lim ited was set up by Polish Samex, US Intertex and Russian Eurogaz . In April 2010 the plant stopped producing rubber. Before the halt, it sold its products chloroprene rubber- to EU countries, Russia (about 30% of the exports), the United States and 20 other countries. -0-