Armenian government signs Vorotan Hydro Cascade sale deal

YEREVAN, JUNE 8, ARMENPRESS: In the presence of Armenian Prime Minister Hovik Abrahamyan, a revised and amended agreement on the purchase and sale of the property of the Vorotan Hydro Power Plants Complex was signed at the government hall on Monday. The agreement was signed between the Republic of Armenia, the Vorotan Hydro Power Plants Complex, Contour Global Hydrocascade, Contour Global Terra Holdings and CG Solutions Global Holding Company.

The press service of the Government of the Republic of Armenia informed Armenpress that the document was signed by Armenia’s Minister of Energy and Natural Resources Yervand Zakharyan, Vorotan Hydro Power Plants Complex Company Director General Sasun Khachatryan, an authorized person/representative of the Contour Global Hydrocascade and Contour Global Terra Holdings companies, CG Solutions Global Holding Company Chief Executive Officer Joseph Brandt.

Before the signing ceremony, Prime Minister Abrahamyan received CG Solutions Global Holding Company CEO Brandt. The head of the Armenian government welcomed the Vorotan Hydro Power Plants Complex Company’s signing of the agreement as an important step towards strengthening bilateral economic relations. Within the context of expanding economic ties between the two countries, the prime minister also placed importance on the Trade and Investment Framework Agreement signed between the United States and Armenia in Washington, DC, in May, which creates favorable conditions for attracting investment, trade and trade promotion.

Brandt described as unprecedented the signing of the agreement on the Vorotan Hydro Power Plants Complex’s property purchase and sale and stressed that they are interested in making large-scale investments in upgrading and full operation of the Vorotan hydro complex.

The sides expressed mutual appreciation for the effective work and both reaffirmed their readiness to continue their constructive and transparent partnership.