Armenian minister denies reports on sale of Vorotan hpp to U.S. company

Armenian minister denies reports on sale of Vorotan hpp to U.S. company

YEREVAN, December 4. / ARKA /. Armenian energy and natural resources minister Armen Movsisyan  has denied today media reports that the government sold Vorotan Cascade HPP in souther region of Syunik to a  subsidiary of US Contour Global company.

Earlier it was reported that the American Contour Global company was investing $180 million in Vorotan hydro power plant complex. The report came after the meeting of American-Armenian intergovernmental commission in Washington.

Vorotan hydro power plant cascade is of key importance to the country’s energy system. It consists of three hydro power plants – Spandaryan (rated capacity is 76 megawatt), Shamb (171 megawatt) and Tatev (157.2 megawatt). Armenian government is the full owner of the cascade. This investment is the biggest in  the history of Armenia-US relations.

Speaking at a parliament Q$A session. Movsisyan said the talks with the U.S. company were not yet completed, and no sale deal was signed.

The minister also shrugged off allegation by Zaruhi Postanjian from Heritage party that the deal with US company was cancelled because Armenia is going to hand the facility to Russia . He said no such issue was ever discussed with Russia. -0-

19:23 04.12.2013

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