Rosneft, Pirelli Tyre Russia and Rosneft- Armenia sign MoU to set up joint venture for production of synthetic rubber

Rosneft,  Pirelli Tyre Russia and Rosneft- Armenia sign MoU to set up joint venture for production of synthetic rubber

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-

19:48 25.12.2013

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