ArmInfo. For the safe storage of chemical materials and devices in "Nairit", the Armenian government will allocate 76 million AMD (about $156 thousand.). The corresponding decree was approved at the Cabinet meeting on 23 February.
According to the Minister of Emergency Situations David Tonoyan, the allocated amount will ensure safe operation of the enterprise during 4 months, involving 121 employees.
To note, the Court of Yerevan General Jurisdiction of Shengavit administrative district at the end of November 2016 satisfied the claim of the company and admitted the factory "Nairit" to be a bankrupt. Plant employees accused the government of disrupting the earlier announced tender to attract private investors to restart the plant by Energy Ministry. Previously, its interest in restarting the company declared the labor collective of the plant, and the Slovak holding EU-ASIA Business Finance Centre. On February 14, the Yerevan court of general jurisdiction of Shengavit administrative district, on 14 February 2017, the first meeting on the case of recognition of the factory "Nairit" bankrupt took place. During the meeting, the council was elected, which should work with the managing bankruptcy. "At the factory "Nairit" dismantle the storage equipment. After dismantling will be impossible to attract investors", said the former director of the company Karen Israelyan.at the meeting.
The "Nairit" factory completely stopped working in 2014. Total debts of the enterprise are close to the mark of 50 billion AMD (about $ 130 million). By the end of the 80s the plant production occupied 10-12% of the global synthetic rubber market. In 2015, with the assistance of specialist companies Jacobs Consultancy WB commissioned by the government of Armenia held a financial and technical audit of the factory "Nairit".
According to World Bank estimates, the restart of "Nairit" was inappropriate, since it requires a minimum of $250 million of Investments. But in case of investors appear, the WB experts doubt that the plant's production will be competitive and the will find a buyer. WB Auditors came to the conclusion that in the conditions of the manufacturing process based on a butadiene and acetylene, the production of "Nairit" will have a fairly high cost, including due to a significant deterioration of a large part of the fixed assets of the enterprise. Most experts believe that the results of the World Bank's audit had to be regarded as a recommendation to the plant bankruptcy process, which, in fact, happened.
