"NAIRIT-1" CHEMICAL ENTERPRISE TO BE TRANSFERRED TO "RANSTAT GROUP" INDIAN COMPANY FOR MANAGEMENT

PanARMENIAN.Net - The government of Armenia has made a decision to transfer "Nairit-1" enterprise, the only chloroprene rubber producer in the CIS, to "RanstatGroup" Indian Company. Minister of trade and industry Karen Chshmaritian stated it at the press conference today. The final agreement will be signed in 15-20 days. In the agreement project is stipulated that "RanstatGroup" will manage the enterprise for a year after that it will have a right to acquire 98% of "Nairit" shares. "Ranstat Group" undertakes to get investments necessary for up-to-date equipment for the enterprise. The company has also undertaken to quit "Nairit" debts that are $100 mln. The volume of the chloroprene rubber production will increase from 4 thousand to 25 thousand tons a year. It should be noted that the indirect participant of the bargain is "Intercontact" Ukrainian Company that authorized "Ranstat Group to hold talks on its behalf too".