The Nairit chemical plant requires large financial investments, the Armenian Economy Minister told the journalists on Saturday.

According to him, the plant leadership wants to get guarantees the government cannot provide. Tigran Davtyan stressed he opposes giving guarantees, as it the same like granting a credit. Budget is too tight for it, he added.

The Minister promised Nairit his assistance in procuring a loan or any other financing provided it is not at the budget expense.

The Nairit plant producing chloroprene rubber has suspended its activities since last March.