YEREVAN, OCTOBER 13, ARMENPRESS.  “Contour Global” company plans to invest $50 million in “Vorotan” HPS during the upcoming 5 years.  “Contour Global” Armenian representative Ara Hovsepyan told the journalists that they will change electromechanical equipments, some turbines, generators and transformers. “As a result, Cascade capacity will not increase, but it will boost the productiveness”, “Armenpress” reports, Hovsepyan mentioned.

“Contour Global” acquired the complex by 180 million USD, 90 million of which has already been paid, the rest will be paid by June 30, 2016.

“Contour Global” company has acquired nearly 40 similar facilities in 22 developing countries of the world. “The company analyzed the Armenian market and realized that the investment environment is quite positive here. Of course, there are risks which we discussed a found reduction methods, which have been confirmed in the agreement”, Hovsepyan said.

During the working visit to Goris President Serzh Sargsyan attended the opening ceremony of Contour Global Hydro Cascade’s office together with the Vice Presidents of “Contour Global” company and got acquainted with the activities of energy producing transnational company “Contour Global” and the projects of its Armenian office.