A debt-ridden Yerevan chemical plant's bankruptcy recommended by the World Bank is not "suitable" for the Armenian government, Minister of Energy and Natural Resources Yervand Zakharian said during discussions in the parliament on Tuesday.
Zakharian stressed that the bankruptcy procedure for Nairit, a Soviet-built sprawling enterprise on the outskirts of the Armenian capital, would be much more costly for the government than its operation.
"It does not at all suit the government that the [Nairit] company becomes a bankrupt, because it will bring quite sizable financial expenses in its wake, as well as safety and [hazard] neutralization issues that will require millions of dollars in expenses over years," the minister said.
Armenian News
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