RA Minister of Energy and Natural Resources Minister Armen Movsisyan seems to be at a loss for words when reporters quiz him about the fate of the ailing Nairit Rubber Plant.

The only line he’s come up with for the past year is that the government is still negotiating with a company called ITERA International Energy L.L.C. 

Movsisyan’s last official pronouncement on Nairit was that everything would be settled in January. Well, January has come and gone and still no decision has been reached.

At a press conference yesterday, Minister Movsisyan stated that the government had approved a program proposed by Jacobs Consultancy Ltd. to provide technical advice and other professional services.

“All the debt will be paid. As to when, I can’t say. It’s a very complicated matter. Nevertheless, discussions between the parties have taken place and are now being assessed,” Movsisyan told reporters.

In 2011, Nairit shareholders and creditors announced a competitive bid to appoint a new operator to implement the plant's 2011-2019 development program valued at $400-$500 million.

Last year, the Armenian government and ITERA signed an agreement of cooperation that led to the creation of a working group tasked with the effectively implementing the development program.

Minister Movsisyan failed to mention who would be paying the debts of Rhinoville Property Ltd.  or the other millions in loan obligations - the new operator or the Armenian government?