March 18, 2002 - 21:52 AMT
BRITISH RANSAT PLC TO INVEST 60 MILLION DOLLARS INTO ARMENIAN ECONOMY
Ransat PLC British company intends to invest some $60 million into the Armenian economy, company President Anil Cumar stated today. In his words, $25 million out of that sum will be invested into chloroprene caoutchouc production on the basis of «Nairit-1» plant. Besides, the British company has undertaken the obligation to pay «Nairit» debts totaling $35 million dollars. Let us note that today the right to manage 98% of «Nairit-1» shares was passed to Ransat. This proceeds from the agreement signed in Yerevan a month ago. After the maintenance «Nairit-1» will again set about caoutchouc production within a month.