The Armenian Government is trying to get back the Nairit Plant, whose owner, Rhainoville Property Limited, has failed to meet its investment obligations, Armenia's Energy and Natural Resources Minister Yervand Zakharyan told MPs on Wednesday.
"We are going to nationalize and restart the plant. For this purpose, we are negotiating with the InterStateBank, whom the owner has given the plant's shares as security against a loan. We are also planning to sell part of the plant's property so as to pay the staff their unpaid wages," Zakharyan said.