Rosneft and Italian Pirelli Tyre Russia have signed the memorandum on mutual understanding to create a joint venture to produce butadiene-styrene rubber in Armenia, reported Rosneft.
The project implementation will allow creating a joint venture in Armenia to produce high-technology rubber, which is applied in production of “green tires” to reduce fuel consumption by auto transportation and improve road traction.
According to the memorandum’s conditions, Rosneft is going to be the leading investor and shareholder of the plant and conduct research and trial design in field of innovative rubber production jointly with Pirelli. Pirelli is ready to be the buyer of the final product.
In early September 2013 Rosneft President Igor Sechin agreed with Italian Pirelli that Pirelli’s delegation will visit Nairit plant in autumn 2013 to analyze the investment possibilities and evaluate the possible directions of cooperation.
Nairit is the only maker of chloroprene rubber in the CIS. In the 1980s Nairit occupied 10-12% of the world chloroprene rubber market, but now it is in the pre-bankruptcy state, its debt reached $120-130 million. The plant stands idle since April 2010, because of high gas prices. As the prices went from $54 up to $180 per cub.m. of gas, production has become unprofitable.—0—
Economics
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The weaknesses of strategic planning in the Azerbaijani land transport sector were revealed during a briefing on improving legislation, which was attended by representatives of the Azerbaijan Land Transport Agency (AYNA) and the Ministry of Digital Development and Transport.
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The Cabinet of Ministers of the Republic of Azerbaijan has made changes to the existing provisions regarding the approval of construction documentation and the service fees for construction. The amendments are guided by Article 119 of the Constitution of Azerbaijan and are aimed at simplifying processes related to construction permits and operations.
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The Cabinet of Ministers of the Republic of Azerbaijan has approved a new procedure for the recruitment of medical personnel to medical institutions included in the state healthcare system. The decision, which comes into force on January 1, 2025, aims to enhance the implementation of compulsory health insurance in the country.
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The Organization of Turkic States (OTS) convened a pivotal meeting in Guba, recently named the agricultural capital, to introduce the "OTS Made" brand for agricultural products. Representatives from the Ministries of Agriculture of Azerbaijan, Turkey, Uzbekistan, Kazakhstan, and the Turkish Republic of Northern Cyprus, along with experts from relevant departments, participated in the event.
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