Saving Nairit, or…?
The Russian Federation will provide Armenia with a 400-million dollar loan from the EurAzES Anti-Crisis Fund, but 100 percent of the factory's shares must be in the hands of the government, according to "Izvestia".
According to "Izvestia" newspaper, the Ministry of Finance of the Russian Federation has confirmed the document on providing measures for upgrading Nairit Factory and creating adjunct enterprises.
The amount will be allocated to Armenia in three installments. The first (125 million) will be provided to the factory in order for the latter to pay off its debts, and the second and third installments will be provided for upgrading.
We remind that 90 percent of Nairit Factory's shares belong to Rhinoville Property Limited, and the RA Ministry of Energy and Natural Resources holds 10 percent of the shares.
Nairit is currently not in service.
