Shansi-Nairit Joint Armenian-Chinese enterprise launched in 2010 must reach its estimated capacity within 3 years, according to Minister of Energy and Natural Resources Armen Movsisyan.

“Works are in progress according to the schedule. Presently the company reached 50% of design capacities and in a year and a half the enterprise will work at full capacity, producing 30 thous. tons of rubber,” the minister told a press conference in Yerevan.

In this respect, Movsisyan asserted that Shanxi-Nairit will start to earn profits in a year, and the owners will be able to get dividends at amount depending on world market prices.

The enterprise on production of chloroprene rubber Shanxi-Nairit in the city of Datong of China’s north-eastern Shanxi province is one of the largest projects within the framework of Armenian-Chinese economic cooperation. Launched on May 4, 2010, in the course of President Serzh Sargsyan’s visit to China, Shanxi-Nairit JV was founded on the base of agreement between Nairit Armenian plant and Shanxi Synthetic Rubber Chinese jsc, signed in 2003. The Armenian share in the enterprise totals 40%.