Govt. approves partial handover of Nairit assets to Vorotan CascadeJuly 24, 2014 - 18:40 AMT PanARMENIAN.Net - Armenian government approved a draft resolution for handover of a part of Nairit CJSC assets to Vorotan Cascade of Hydroelectric Power Plants, ARKA reported. The draft resolution stipulates for handover of 53.27% of Nairit-2 CJSC’s assets of AMD 7320.8 million and 3.5967% of Nairit Plant’s assets of AMD 983.4 million to Vorotan Cascade for debt, with the debt of Armgazprom that runs Nairit to be considered repaid. The cabinet ministers also ruled that budget loans and other liabilities of Armgazprom to the Armenian finance ministry will be repaid by handing a part of its assets over to the government. The right of claiming all the accounts receivable to the defense ministry, Tech-Stepanakert Gas Pipeline and 46.73% of Nairit-2 CJSC’s assets is included here as well. As a result, 46.73% of Nairit-2 CJSC and Tech-Stepanakert Gas Pipeline will be owned by the Armenian energy and natural resources ministry and run by the energy minister. Nairit was the only chloroprene rubber production plant in the Soviet Union. The plant was closed in 1989 for environmental reasons and partially resumed operations in 1992. In 2001, some production facilities were separated from the plant, with a debt-free enterprise established. 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. In April 2010 the plant ceased operating. Energy and Natural Resources Minister Yervand Zakharyan said earlier that the matter would be settled in accordance with the law on closed joint stock companies. The Vorotan Cascade is a series of three hydroelectric power plants aituated on the Vorotan River in southern Armenia. It generates 1.16 billion KWt-hour annually and accounts for about 15 percent of Armenia's power capacity providing energy for 250,000 homes. On January 29, 2014, the U.S. Contour Global Hydro Cascade and the Armenian government inked a $180-million sale purchase deal for Vorotan Hydro Cascade’s assets. Top stories The number of state universities will be reduced from 23 to 8 by 2030, Minister of Education, Science, Culture and Sport Zhanna Andreasyan has said. From September 21 to November 11, a total of 2,820 Russians registered at a place of residence in Armenia, the police has said. The situation on the contact line between Karabakh and Azerbaijan was relatively stable overnight, the Defense Army says. Defense Minister Suren Papikyan has visited the southern Armenian province of Syunik, the Defense Ministry reported on March 18. Partner news | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenia, Russia discuss life extension of Metsamor nuclear plant Issues regarding the extension of life of the 2nd power unit of the Armenian Nuclear Power Plant were discussed in Yerevan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. |