Nairit plant’s future: Russia or China?

09:03 • 08.07.13
Economy

The Nairit chemical plant must not be closed. If Armenia cannot reach an agreement with Russia, it should focus its attention on China, Vazgen Safaryan, Chairman of the Union of Native Commodity Producers (Domestic Producers), told Tert.am.
 
“In the Shanxi province of China a Nairit rubber production line is being operated. I have the information that China’s annual output of rubber is 50,000 tons, but the country needs 100,000 tons. We should raise the cooperation level so that they invest in the Nairit plant and produce an additional 17 to 18 thousand tons of chloroprene rubber for their needs,” the economist said.

According to Safaryan it will facilitate the Armenia-Iran railway construction project as the new railway may be used for the transportation of rubber.

Since 1999, Safaryan has been dealing with the Nairi plant problem, and the Gazprom Company has for years used Nairit-produced rubber.

“The monthly output was 500 tons a month and the annual output was 6,000 tons,” Safaryan said.

Since 2007, Rhinoville Property Limited (Great Britain) has held 90% of the Nairit plant stock, with the rest 10% held by Armenia’s government.

With demand for rubber being 350,000 tons, Armenia can have its 20,000-ton share in the market. The only problem is competent management.

The economist Vahagn Khachatryan, a member of the Armenian National Congress (ANC) party, shares Safaryan’s opinion about competent management.

“The fact is that the Nairit plant is closed now and its debts total 400 million, with rubber being in great demand,” Khachatryan said. He does not think that the Russian side or the British company cannot arrange competent management at the plant. Rhinoville Property Limited is an offshore company and “its owners are not known yet.”

The negotiations with the Russian side have been suspended. The Russian side’s requirement is that the ITERA company become full owner of the Nairit plant after its debts have been cancelled.
 

Armenian News - Tert.am

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