ARMENIA’S ENERGY MINISTER RULES OUT NAIRIT PLANT’S SHUTDOWN

ARKA
May 15, 2009

YEREVAN, May 15. /ARKA/. Armenia’s Minister of Energy and Natural
Resources Armen Movsisyan ruled out possible shutdown of Nairit
chemical plant where an explosion took place on Thursday.

"The plant must keep working and resume activities," Movsisyan said
as he visited today the enterprise.

The estimate for reconstruction activities is for US$150,000 and the
shareholders of the plant will cover all expenses.

"The plant’s management will also cover funeral expenses and will
compensate their families," Movsisyan was quoted saying.

An explosion in Armenia’s rubber producing giant Nairit plant on
Thursday at around 6:00 pm local time took lives of four workers.

A lawsuit filed against the explosion at the Yerevan-based Nairit
chemical plant for violating safety rules in highly explosive areas,
causing human losses, as well as for careless utilization of hazardous
chemical and biological agents and toxins.

The police have launched preliminary investigation into the case.

Established in 1949, Armenia’s leading rubber producer Nairit chemical
pant manufactures chloroprene rubber marketing its products under
the Nairit brand.