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Scandalous Facts On Armenia's Vorotan Hydro Cascade's Sale To Americ

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  • Scandalous Facts On Armenia's Vorotan Hydro Cascade's Sale To Americ

    SCANDALOUS FACTS ON ARMENIA'S VOROTAN HYDRO CASCADE'S SALE TO AMERICAN COMPANY - NEWSPAPER

    February 25, 2014 | 08:34

    YEREVAN. - Zhoghovurd daily was able to acquire the Armenian
    government's secret decision on the sale of the Vorotan hydroelectric
    power plant (HPP) to an American company, the daily reports.

    "This deal was conducted in accordance with the decision, which was
    reached at the government session on November 21, 2013, on approving
    the agreement on the sale and purchase of Vorotan's property.

    Moreover, the draft decision was kept secret until the end.

    "Incidentally, another decision on the Vorotan HPP, [and] on
    increasing the charter capital, was adopted at the government session
    on November 21. So, four reservoirs, worth over 89 million drams
    [approx. $216,277], were returned to Vorotan and likewise sold to
    the American company.

    "But this sale runs contrary to the Armenian Law on National Water
    Plan, pursuant to which the water systems of national significance
    are not subject to privatization," Zhoghovurd writes.

    News from Armenia - NEWS.am


    From: Baghdasarian
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