YEREVAN. – The Eurasian Development Bank (EDB) received an initial bid, which is worth more than $100 million, for the modernization of Armenia’s Nairit Rubber Factory, EDB Board Chairman Igor Finogenov said during a press conference on Tuesday.       

To note, in line with the development program of the rubber plant, an investment worth around $512 million is needed for its successful operation.    

“The preliminary document seems to be ready, but we still have not managed to get familiarized [with it]. First and foremost, we are concentrating on the financial stability of the offer,” clarified Finogenov.