New Option for Discarding Nairit
Armenian Grant Thornton Company is conducting inventory in Nairit Plant. It’s a member of Grant Thornton International. Upon sources of 168.am, initiator of inventory is RA Ministry of Energy and Natural Resources, which has paid AMD 15 million for the operation.
At the meeting with Nairit employees Levon Shahverdyan, Deputy Minister of Energy and Natural Resources, said Plant property and venues should be isolated, and what is necessary for further relaunch of Nairit, will be handed over Yerevan Thermal Power Plant, and the other part will be handed to Nairit-2. The latter should sell the property and get back salaries paid to Nairit employees.
However, the Deputy Minister either ignored or forgot a nuance—Nairit Plant doesn’t owe money to Nairit-2. Just the contrary, Nairit-2 owed to the plant: Nairit Plant gained the suit, upon which 100% sharer of Nairit-2 CJSC owed the plant AMD 4.2, i.e. payment of Nairit employees’ salaries may be regarded as discharge of the debt by Nairit-2 and it shouldn’t have any claim. Although Gagik Hakobyan, director general for Nairit-2, in an interview with our paper stated, that legally there is no problem that state-owned company is going to pay 90% of debt on employees’ salaries of a private company, as Nairit Plant is on the brink of bankruptcy, has lots of claimants, and if that money goes to the Plant, other primary debts will be sank and not of the salary. He also stated, that the amount has been transferred by the Government, and not on on account of Nairit-2 . Moreover, Nairit-2 solely paid the principal amount, and “escaped” to pay off the interests, and this means, it was a good opportunity to circulate that money and gain profit.
At present, if a part of Plant’s property is transferred to Nairit-2 for the debt, and is alienated, Nairit Plant will face serious issues. Currently Plant’s main property is venues and facilities, as sale of worn-out equipment isn’t going to provide sufficient amount. And if any venue under disposal of the plant is sold, in case of any problem, it’s new owner won’t allow entry into his/her territory and doing any operations. That is, alienation of any venue or facility means “to bury” the plant. If the Government has really set the issue of operating the plant, in no way it should allow alienation until the investor comes and launches exploitation of the plant, and he/she should decide what to sell and what—no.
By the way, last summer Iosif Isayan, the then Deputy Minister of Energy and Natural resources, assured that Nairit-2 isn’t able to possess the plant’s property, sell it, and etc.
However, presently, while the National Assembly touches upon the urgency on passing a law on Nairit Plant, the Government seeks for getting rid of that “burden” as soon as possible. Turns out, the Government deliberately takes quick steps, so that not a single investor approached the plant. Operating Nairit, surely, would be perspective and beneficial both for RA authorities and citizens.
Although, on the other hand, Nairit has immense territories, and at present-day Yerevan to finding a large territory isn’t an easy thing.
By Gayane Khachatryan
