Armenia's Energy and Natural Resources Ministry is planning to sell part of Nairit Plant's assets, Armenia's Energy and Natural Resources Minister Yervand Zakharyan told journalists on Tuesday.
He believes that this can help the company to repay unpaid wages to its personnel.
Zakharyan is planning to visit the plant on Feb 2.
As it was reporter earlier, as many as 1,700 employees of the Nairit Plant will be dismissed starting February 6 2015. The employees have already received relevant notifications.
On 16 January, the staff of the Nairirt Plant disseminated an open letter addressed to President Serzh Sargsyan, wherein they demand their salaries for 18 months.
Armenia's biggest rubber producer, Nairit has been standing idle for quite a while already, with its employees haven't been paid wages for as long as 15 months. The plant's debts total 50bln AMD or $130mln (including 5bln AMD in unpaid wages). In the 1980s Nairit had almost 10-12% of the global rubber market. In 2006 90% of Nairit Plant was sold to Rhinoville Property Limited for $40mln. The remaining 10% is owned by the Armenian Government. Since Apr 2010 the plant has been idle, with its shares given as security against the CIS InterStateBank's loan.