Yerevan/Mediamax/. “Nairit” Chemical Plant interrupted production. The hypothetical reason for this is the non-payment of electricity debt by the plant. The debt reached 1bln AMD ($2.5mln).

““Nairit” did not pay for electricity for about a year, and as of March 1, the Plant’s debt made about 1bln AMD”, “Electric Networks of Armenia” (ENA) Spokeswoman Natalia Sarjanyan informed Mediamax.

According to her, the problem with non-payment of the debt by “Nairit” was there also last year, as a result of which ENA turned to court for the latter to declare the Plant bankrupt. As a result, “Nairit” paid the debt (which also made about 1bln AMD), and the case was closed.

“Now “Electric Networks of Armenia” does not intend to bring a charge against “Nairit”, there are negotiations constantly in process with the Plant”, Natalia Sarjanyan stated.

She informed that for security concerns, Plant electricity supply cannot be fully disconnected, and starting from March, the Plant is partially electrified. It received electricity in minimum “reserve” quantity and works on emergency capacities.

Spokeswoman of the Plant Anush Harutyunyan stated in an interview to Mediamax that the Plant does not carry out production now, but it continues concluding contracts on purchases and sales of the already ready production.

Anush Harutyunyan did not specify the reasons for interrupting production, nevertheless noting that the reason is not the lack of orders. “On the contrary, we have numerous orders from abroad”, she stated.

Commenting on the problems, which have occurred as a result of the electricity debt, Anush Harutyunyan did not name the reasons for non-payment of the debt, only noting that the Plant is in process of negotiations with “Electric Networks of Armenia”, and the “sides, as far as it is known, have come to common grounds”.

Anush Harutyunyan refuted the rumors, according to which the Plant has sent the employees to forced vacation.

“Nairit” CJSC is one of the five enterprises in the world, producing chloroprene rubber. Over 80% of the Plant’s production is exported. Working at full capacity, the Plant can produce 700-750 tons of rubber a month. Since 2006, 90% of the Plant belongs to “Rhinoville Property Limited”, registered in London, which has taken upon it the commitment to invest $120mln until 2011. 10% of “Nairit” shares belongs to the Armenian government.