Moscow Times
Russian oil major Rosneft and gas producer Itera are in talks with Armenian authorities to acquire Armenia’s largest petrochemical plant, Nairit, which specializes in the production of chloroprene rubber, Vedomosti reported Tuesday.
The report cited unidentified sources in the Armenian Energy and Natural Resources Ministry and Nairit.
A source in Itera confirmed to Vedomosti that the company was considering “different variants of participating in the project,” adding that a final decision may be made by the end of May.
Nairit, which is owned by the British Rhinoville Property Limited and the Armenian government, which own 90 percent and 10 percent of the company, respectively, faces bankruptcy with a debt of $120 million to $130 million.
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