Armenian Chinese Joint Enterprise Approved

YEREVAN (Armenpress)–The government of Armenia approved a draft agreement on establishing a joint enterprise–ChinArmenpren–for synthetic rubber production in China.

Armenia’s trade and industry minister Karen Chshmaritian said that according to the draft agreement–the Armenian share in the enterprise will be 40 percent ($14 million)

According to Chshmariatian–the enterprise will produce synthetic rubber–caustic soda–different types of glue and other products–which will be available the Chinese market. According to the preliminary estimates–about 20 percent of the output will be used for export.

The enterprise will take a loan of $100 million to build the Armenian-Chinese joint enterprise. As soon as the loan is paid (within 3 years)–the payment of dividends will begin.

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