The sit-down strike of the Nairit Plant employees planned outside the government building for May 14 pursues one goal only: to draw the attention of the authorities and public to the problem with the Plant's arrears of wages, Spokesperson of Nairit Plant Anush Haroutiunyan told ArmInfo.
She does not understand why the arrears should be paid till the end of the year when the energy minister said on Wednesday the Plant's property will be unpledged within the coming two days. "We must be fighting to get our wages paid within the shortest period of time," Haroutiunyan said.
Earlier, on Wednesday, Minister of Energy and Natural Resources of Armenia Yervand Zakharyan said reactivation of the Nairit Plant is not expedient by preliminary estimates of the World Bank. He said to reactivate the Plant at least $250 million are needed. In addition, he said, it is not clear if the Plant's production will be competitive on the world market. The minister recalled the heavy financial situation of the Plant that has been idling for already 4 years. The arrears of wages have reached 5.7 billion drams, exclusive of social payments and income tax. 1,700 employees of Nairit Plant were fired on Feb 6. A total of 478 employees remain at the Plant now.
The wages for another month have been paid recently, with the total arrears to be liquidated till the end of the year. Following intensive talks with Interstatebank - the bank provided a loan for development of the Plant - an agreement was reach to unpledge the property of the Plant within the coming 2-3 days. Afterwards, the property of the plant will be transferred to the Government.
Nairit Plant has been idle since April 2010. The Plant's shares were given as security against the CIS InterStateBank's 70 mln USD loan provided in 2006 for 5 years - till late Dec 2011 - at 12.5% p.a. In 2006, 90% of Nairit Plant's shares were sold to Rhinoville Property Limited (UK). The latter owns an 89,999% stake in the plant, Armenian Ministry of Energy and Natural Resources - 4,496%, Gazprom Armenia CJSC (previously ArmRusgasprom) - 3,596%, and Yerevan Thermal Power Plant - 1,907%.