Armenia sells Vorotan hydroelectric power station complex to U.S. firm

Photo: Armenia sells Vorotan hydroelectric power station complex to U.S. firm / Armenia

A U.S. energy company has acquired the Vorotan hydroelectric power station complex for $ 250 million on Wednesday.

The transaction is the U.S biggest investment in the Armenian economy, Armenia Today reported.

The contract on the purchase and sale of the Vorotan complex property was signed between the Armenian government, Vorotan hydroelectric power station complex and U.S companies Contour Global Hydro Cascade and CG Solutions Global Holding Company.

Contour Global Hydro Cascade will pay $180 million for the Vorotan hydroelectric power station complex.

It will invest $70 million in the modernisation and reconstruction of the complex in the next six years.

Translated by NH
Edited by SM

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