"Nairit" Employees Determined to Turn to Court and Punish Blackmailers

ArmInfo.  "Nairit" ex-employees have been blackmailed and were forced to sign an agreement according to which they will not be demanding fines for arrears in wages, Anush Harutyunyan, the former press secretary at "Nairit" plant, said during an August 5 press conference.She also added that all employees had received their long-promised salaries.

 

Harutyunyan has also added that former employees will not be demanding fines, however, they are determined to turn to the court and punish the blackmailers. To note, the arrears in wages made 5.3 bln AMD. "Nairit" former employees have held numerous protest rallies in front of presidential compound and government building. 

 

To recall, Nairit Plant has been idle since April 2010. The Plant's shares were given as security against the CIS InterStateBank's 70 mln USD loan provided in 2006 for 5 years - till late Dec 2011 - at 12.5% p.a. In 2006, 90% of Nairit Plant's shares were sold to Rhinoville Property Limited (UK) for 40 mln USD. In January 2014, the Moscow Court satisfied the InterStateBank's claim on seizing the specified 90% of shares for the debts. The remaining 10% of shares belong to the Armenian Government. 1,700 employees of Nairit Plant were fired on Feb 6. A total of 478 employees remain at the Plant now to ensure the security of the Plant. 

 

To note, the Government of Armenia is keen to apply to the CIS InterStateBank with a proposal to write off the Nairit Plant's debts.  On July 2, the Government approved a draft agreement with 

InterStateBank on it. The draft agreement suggests that InterStateBank should delegate the debt of the major shareholder of  the plant - "Rhinoville Property Ltd" - to the Armenian state company 

Armgazprom for a symbolic price - $100.  

 

At the moment the debts of Nairit Plant amount to 126 billion AMD. 79 bln AMD of the specified amount is the debt to the CIS Interstate Bank, 23 bln AMD - to the Yerevan TPP, 10 bln AMD is the tax debt, 1.3 bln AMD is the debt to Gazprom Armenia CJSC, 1.2 bln AMD - to Electric Networks of Armenia, and the wage arrears total 5.4 bln AMD.