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VOROTAN CASCADE DEAL CLOSE TO COMPLETION, CLAIMS ARMENIAN DEPUTY MINISTER
YEREVAN, November 5. /ARKA/. The Vorotan Cascade hydro power plant
deal is close to completion, Armenia's deputy minister of energy and
natural resources Ara Simonyan said during the draft budget discussions
at the parliament committees on Tuesday.
On January 29 American ContourGlobal and Armenia's government signed
an agreement under which ContourGlobal is to purchase and modernize
the Vorotan Hydro Cascade, a series of three hydroelectric power
plants totaling 405 MW on the Vorotan River in southern Armenia,
for a purchase price of $180 million.
The deal is very close to completion, some technical issues and tariff
policies remain to be agreed about, Simonyan said.
The deputy minister said as far as he knows the deal will be finalized
in the near future.
Simonyan also said the buyer is expected to make serious investments
to rehabilitate the cascade. He said the government may attract loans
to relieve load on customers from possible tariff increases. -0--
http://arka.am/en/news/business/vorotan_cascade_deal_close_to_completion_claims_ar menian_deputy_minister_/#sthash.FMaVLjiD.dpuf
From: A. Papazian
YEREVAN, November 5. /ARKA/. The Vorotan Cascade hydro power plant
deal is close to completion, Armenia's deputy minister of energy and
natural resources Ara Simonyan said during the draft budget discussions
at the parliament committees on Tuesday.
On January 29 American ContourGlobal and Armenia's government signed
an agreement under which ContourGlobal is to purchase and modernize
the Vorotan Hydro Cascade, a series of three hydroelectric power
plants totaling 405 MW on the Vorotan River in southern Armenia,
for a purchase price of $180 million.
The deal is very close to completion, some technical issues and tariff
policies remain to be agreed about, Simonyan said.
The deputy minister said as far as he knows the deal will be finalized
in the near future.
Simonyan also said the buyer is expected to make serious investments
to rehabilitate the cascade. He said the government may attract loans
to relieve load on customers from possible tariff increases. -0--
http://arka.am/en/news/business/vorotan_cascade_deal_close_to_completion_claims_ar menian_deputy_minister_/#sthash.FMaVLjiD.dpuf
From: A. Papazian