“Rosneft” is planning to carry out an investment program of around USD 500mln in Armenia.

Armenian Prime Minister Tigran Sargsyan stated it presenting the results of the meeting with his Russian counterpart Dmitry Medvedev in Sochi on February 24.

“We listened to Rosneft Chairman Igor Sechin’s report. They are planning to invest around USD 500mln in Armenia. In the near future, we will discuss under what conditions these investments will be made so that the project is realized within tight deadlines. The project refers to “Nairit” factory, and the majority of the new factory’s staff will be comprised of exactly “Nairit” employees”, Tigran Sargsyan stated.

Over December 2013, “Rosneft”, Pirelli Tyre Armenia and “Rosneft Armenia” signed a memorandum on establishing a joint venture.