Deal on Vorotan Hydro Cascade signed

The agreement on the sale of the Vorotan Hydro Cascade was signed today between the Armenian Government, the Vorotan Hydropower Complex, the ContourGlobal Hydro Cascade, the ContourGlobal Terra Holdings and CG Solutions Global Holding Company.

Before the document would be signed Prime Minister Hovik Abrahamyan received CG Solutions Global Holding Company CEO Joseph Brandt. The Prime Minister welcomed the signing of the deal as an important step towards reinforcement of bilateral economic relations.

In the context of expansion of economic ties Hovik Abrahamyan also attached importance to the US-Armenia Trade and Investment Framework Agreement, which creates favorable conditions for attracting investments, boosting the commodity turnover and trade.

Joseph Brandt said, in turn, the Vorotan Cascade deal was unprecedented and stressed their interest to make large investments for the modernization and full commissioning of Hydro Power Plant.

The parties stressed their commitment to continue the constructive and transparent partnership.

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