THE ARMENIAN-CHINESE RUBBER FACTORY BEING CONSTRUCTED IN CHINA EXPECTED TO BE EXPLOITED AT THE END OF THIS YEAR

ARMENPRESS
July 30, 2009

YEREVAN, JULY 30, ARMENPRESS: The Armenian-Chinese rubber factory
being constructed in China on nearly 100 hectares of territory is
intended to be exploited at the end of this year.

Vice Director of "Nairit-2" factory Albert Sukiasian told Armenpress
that the crisis made no changes in the projects. There will also be
no issues in realization of the factory product.

At present local testing and checking is being held in the factory,
technical and other issues are revealed. The checking is followed
by already finished construction works. After the entire testing the
factory will be exploited.

According to A. Sukiasian, the total cost of the construction of the
Armenian-Chinese factory reaches more than $140 million. Armenia
is 40% shareholder of the factory, China – 60%. The main Armenian
investment in this project is the mental property in respect of the
new technologies of the rubber production which ensure high production
security and few wastes.

A. Sukiasian stressed the importance of the implementation of rich
Chinese experience during the production. The Armenian technologies
of rubber production have been inputted and implemented in Armenia
yet in 1993-1994.

The factory is expected to produce nearly 30,000 tons of rubber
annually. A. Sukiasian said that there are also prospects of increase
of the output volumes depending upon the demand. The product of
the factory must entirely be consumed in China, where there is a
limitless market.