Some eighty irate Nairit Rubber Plant workers are staging a demonstration outside the Government Building in Yerevan and are demanding that they be paid almost one year in back wages.
Hetq has spent the last seven months tracking the trail of $170 million in loans received by the Nairit Plant to ostensibly get up and working again.
As we wrote previously, in 2009 Nairit Plant received its second large loan of 35.5 billion AMD ($86 million) from Interstate Bank. At the time, Vahan Melkonyan was the director.
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.
Over the years millions of dollars have been lent to the Nairit Rubber Plant. No one knows the exact amount. The Armenian government remains tight-lipped on the subject. State officials refuse to talk to Hetq. highest level.
Eric Narsisyan, Director of Rhinoville Property Limited, a shareholder of Nairit Plant CJSC, appears unwilling to grant Hetq an interview in response to our series of articles following the mysterious money trail of a $70 million loan.
On November 2, one judicial dispute against Nayirit was resolved. This time, an off-shore company of unknown origin lost. At the same time, two judges handed down two separate decisions regarding the dispute.
Disgruntled workers of Yerevan’s Nayirit Rubber Factory converged on the presidential palace demanding that the now idle plant be restarted and that their back wages be paid.
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