The fate of the chemical giant "Nairit" is still unresolved:  investors show a certain interest - Minister

ArmInfo.The fate of the chemical giant of Armenia - Nairit plant has not been finally  resolved - investors show a certain interest in this enterprise. This  was stated by Minister of Economic Development and Investments Tigran  Khachatryan on January 31 after a meeting of the Cabinet.

According to Khachatryan, the ministry held talks about a possible  restart of the plant. "They (possible investors - Ed.) Have their own  vision, but the process is at an early stage of discussion. To say  that there is an investment proposal is an exaggeration," he said.   Refraining from calling a potential investor, the minister said that  the interested party has specific technological and organizational  capabilities. According to him, the government is ready to discuss  all initiatives aimed at economic development, while indicating that  the issue of "Nairit" is extremely sensitive. "The government can  discuss the issue of restarting the enterprise on the condition of a  substantive proposal, a clearly calculated and evaluated project. But  this is still far off," said the Minister of Economic Development and  Investment of Armenia.

Recall that the chemical giant of Armenia - Nairit plant has been  idle since March 2010. The company completely stopped working in  2014. The total debt of the company approached 50 billion drams  (about $ 130 million). The court of the Yerevan administrative  district Shengavit at the end of November 2016 declared bankrupt  "Nairit Plant" CJSC on the basis of a lawsuit filed by the Electric  Networks of Armenia company.  Until the end of the 80s, the plant's  products occupied 10-12% of the world market of synthetic rubber. The  government of Armenia has repeatedly stated that the enterprise can  be launched if there is an investor ready to invest in the plant. At  the same time, according to preliminary estimates by auditors, an  investment of $ 200-300 million is needed to launch Nairit.