Armenian Prime Minister Tigran Sargsyan said that the investment project of Nairit chemical plant is estimated at $150-300mln.

Final decisions on the project will be adopted until the end of 2010, Mr. Sargsyan told journalists based on the results of his two-day visit to Saint Petersburg.

The project was submitted to the anti-crisis fund of the Eurasian Economic Community (EurAsEC).

Armenia’s partners have discussed the matter, including during a meeting of the Armenian Prime Minister with Russian Deputy Prime Minister Igor Shuvalov.

Based on the results of discussions, the Armenian and Russian ministries of finance have been instructed to submit certain technical and financial offers on the investment project, as it presents interest for both Armenia and the CIS.

Tigran Sahakyan said that the amount of financing depends on components to be included in the project.

“Nairit plant is not only a production of rubber. Various types of raw materials can be obtained there for their usage in other productions. It suggests that the investment project of Nairit can be considerably expanded,” concluded Tigran Sargsyan.