The U.S. government is committed to continuing to work with partners in the Armenian government to expand trade opportunities between the U.S. and Armenia, U.S. Ambassador has said.
Addressing the American Chamber of Commerce in Armenia, Ambassador Richard Mills
reported considerable progress in the past year.
“ContourGlobal completed the acquisition of the assets of the Vorotan hydroelectric facility in 2016, and now represents the largest single U.S. private investment in Armenia’s history and the first U.S. investment in Armenia’s energy sector. In addition, ContourGlobal plans to invest more than 70 million dollars over the next several years – and create about 150 near-term jobs,” the Ambassador said.
Meanwhile, he added, another U.S.-affiliated firm, Lydian International, started the construction of its Amulsar mining project in 2016. “By 2018, Amulsar will likely represent the largest U.S. equity investment in Armenia, with construction costs estimated at 370 million dollars from 2016 to 2018. During the peak construction phase up to 1,300 jobs will be secured, while 700 people will be employed directly by Lydian Armenia during 10 years of production,” Richard Mills added.
“The U.S. government is committed to continuing to work with partners in the Armenian government to expand trade opportunities between the U.S. and Armenia,” Ambassador Mills said.