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US AMBASSADOR TO ARMENIA SPEAKS ON VOROTAN HYDRO CASCADE DEAL - NEWSPAPER
June 19, 2014 | 07:38
YEREVAN. - In response to Zhamanak daily's remarks that Armenia's
opposition considers the Vorotan Hydro Cascade's sale to be unlawful
and non-transparent, US Ambassador John Heffern once again confirmed
that the US defends and supports the business deal, the daily reported.
'"The deal was signed in January, and we hope that it will be
completed. This deal will benefit the diversification of Armenia's
power supply, and it is important in economic and investment terms.
'"The International Finance Corporation and the Foreign Investment
Promotion Commission also are involved in the funding,' the ambassador
said yet again expressing the hope that the deal will be implemented
in accordance with what is signed, and that it will be a good incentive
for the two countries," Zhamanak wrote.
The Vorotan Hydro Cascade comprises three electric power plants. The
Government of Armenia is the 100-percent shareholder of the Vorotan
Hydroelectric Power Plant. On November 27, 2013, the Public Services
Regulatory Commission of Armenia had confirmed the deal to sell the
Vorotan Hydro Cascade to the American ContourGlobal company, and for
$180 million.
News from Armenia - NEWS.am
June 19, 2014 | 07:38
YEREVAN. - In response to Zhamanak daily's remarks that Armenia's
opposition considers the Vorotan Hydro Cascade's sale to be unlawful
and non-transparent, US Ambassador John Heffern once again confirmed
that the US defends and supports the business deal, the daily reported.
'"The deal was signed in January, and we hope that it will be
completed. This deal will benefit the diversification of Armenia's
power supply, and it is important in economic and investment terms.
'"The International Finance Corporation and the Foreign Investment
Promotion Commission also are involved in the funding,' the ambassador
said yet again expressing the hope that the deal will be implemented
in accordance with what is signed, and that it will be a good incentive
for the two countries," Zhamanak wrote.
The Vorotan Hydro Cascade comprises three electric power plants. The
Government of Armenia is the 100-percent shareholder of the Vorotan
Hydroelectric Power Plant. On November 27, 2013, the Public Services
Regulatory Commission of Armenia had confirmed the deal to sell the
Vorotan Hydro Cascade to the American ContourGlobal company, and for
$180 million.
News from Armenia - NEWS.am