  Rosneft may decide on Nairit plant purchase in late October October 9, 2013 - 14:49 AMT PanARMENIAN.Net - Negotiations are ongoing with Russia’s top oil producer Rosneft for sale of Nairit plant, Aravot daily said quoting the Energy and Natural Resources Minister. The agreement with Rosneft includes several stages: assessment of the effectiveness and acceptability of the program-suggested technology, investments and possible ecological issues. According to the Armen Movsisyan, with the first 3 stages having proved positive, Rosneft is inclined to invest. The ongoing ecological assessment will be finalized by late October, with the sale to start should the 4th stage prove successful, the daily quoted the Minister as saying. Earlier, Russian oil major Rosneft agreed with Italian Pirelli to visit Armenia’s Nairit to assess possible lines of cooperation. At the September 3 meeting with Nairit director general Hovhannes Akhinyan, Rosneft President Igor Sechin discussed potential possibilities of Rosneft participation in production of chloroprene rubber at Nairit. Rosneft will decide on participation in the project after an audit, as well as upon completion of talks with the Armenian government. According to earlier reports, Rosneft and gas producer Itera were in talks with the Armenian government to make investments in the country’s largest petrochemical plant. Armenian Minister of Energy and Natural Resources Armen Movsisyan repeatedly noted that $400-500mln is needed to upgrade Nairit plant. Nairit specialises in the production of chloroprene rubber. In 2006, 90% of Nairit’s shares were sold to British Rainoville Property Limited for $40 million. The remaining 10% belong to the Armenian government. According to some estimates, a comprehensive upgrading of this facility will require hundreds of millions of dollars. Nairit has been operating at minimal capacity since a gas price hike in 2010 made production unprofitable. Related links:   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news Biden honors resilience of Armenian people on April 24  U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide.Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan.Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says.Freedom House concerned by mounting reports of police violence in Armenia Freedom House urged Armenian authorities to investigate this pattern of excessive force and inhumane treatment. |
