YEREVAN. – The Armenian government will get back the shares of Nairit chemical plant in one or two weeks, Energy Minister Yervand Zakharyan said in the parliament on Wednesday.

Back in July the government addressed the CIS Interstate Bank that earlier acquired the shares of Nairit plant in exchange for the debt of a private owner. The bank agreed to hand over the shares, and the procedure is underway. The Armenian government is still ready to seek potential investors and to hold negotiations, the Minister said.

In 2006, the Government of Armenia sold 90% of the Nairit plant shares to a British consortium, Rhinoville Property Limited, for $40 million. The investors failed to appear to Armenian community or the press ever since.

In 2006, the CIS Interstate Bank extended to Rhinoville a $70 mln line of credit, which was not repaid. In January 2014, the bank successfully claimed Rhinoville’s 90% shares, while the remaining 10% stayed with the Government.

On July 28, Yervand Zakharyan announced that the government has concluded negotiations with the Interstate bank, which agreed to cede the unpaid debts of Rhinoville.