YEREVAN. – The Armenian lawmakers are ready to prepare and approve draft bill on tax relief for Nairit chemical plant, MP Vardan Ayvazyan said addressing Energy Minister Yervand Zakharyan during parliamentary hearings on Tuesday.

“We realize that the future investor will need serious tax relief. And we are ready to prepare a draft bill to free investors from different direct and indirect taxes on production. We are aware of the great importance of this enterprise for the economy and we are ready to do everything in our power,” Ayvazyan said.

In 2006, Armenia sold 90 per cent of Nairit company’s shares to the British Consortium Rhinoville Property Limited for $40 million. Since then the company hasn’t practically appeared before the public or press. In 2006 the CIS Interstate Bank opened a $70 million credit for Rhinoville.The Armenian government owes 10 percent of the shares.