Bagratyan: American side will sell Vorotan in several years
Posted 31 January 2014 - 10:11 AM
Posted 31 January 2014 - 12:48 PM
Since when are we to keep on publishing the Kettle and the Pot calling each other names as the standard diet? Bagratyan is a fellow that has no more business being in politics, a totally and utterly discredited persona, and yet here he is making bold predictions. Bagratyan has a resume that includes exporting technical talent at below wholesale to Iran, for example, while simultaneously denying that such talent exists or has ever existed in Armenia. he is of course only "concerned" about the sale of assets to foreign entities from a petty partisan position. He forgets that during his tenure as Minister of Economy, he was participating in the destruction of the Ecomony, and part of the destruction process was the sale and gutting of the industrial infrastructure, in addition to the "exporting" of technological talent. Fascinating, these folks.
Edited by hagopn, 31 January 2014 - 12:48 PM.
Posted 31 January 2014 - 02:13 PM
U.S. EMBASSY CONGRATULATES ARMENIA, U.S. COMPANY CONTOUR GLOBAL
Targeted News Service
January 29, 2014 Wednesday 6:59 PM EST
The U.S. Embassy issued the following news release:
The United States Embassy welcomes the agreement between the government
of Armenia and the U.S. Company ContourGlobal over the purchase of the
Vorotan Hydro Cascade. This 180 million dollar investment represents
the largest ever U.S. private investment in Armenia and the first
U.S. investment in Armenia's energy sector. The Vorotan Hydro Cascade
is a series of three hydroelectric power plants capable of generating
405 MW (on the Vorotan River in southern Armenia). It is one of the
largest and most flexible power generating facilities in Armenia
and the Caucasus. The agreement was signed today in the office of
the Prime Minister, by the Minister of Energy and Natural Resources
Mr. Armen Movsisyan and ContourGlobal's Executive Vice President and
CEO for Eastern Europe & CIS, Mr. Garry K.
Levesley. The U.S. Ambassador to Armenia John A. Heffern was also
Under the terms of the agreement, ContourGlobal Hydro Cascade, a direct
and wholly owned subsidiary of ContourGlobal, will supply power to
the Armenian grid under a long-term power purchase agreement. It will
also invest US$ 70 million over the next six years in a refurbishment
program to modernize the plants and improve their operational
performance, safety, reliability, and efficiency.
ContourGlobal expects the modernization to create 150 near-term jobs,
in addition to the 150 long-term technicians that will be employed
at the plants.
Posted 31 January 2014 - 03:10 PM
Here's the bloomberg info on this: http://investing.bus...vcapId=27352493
My guess is that they are a post-IMF "rummage sale collector" firm. This is the new age of globalism.
For this reason, my friend, all nationalism is being ridiculed systematically by the leftist academia. Now, if people do not yet see the collusion of "left and right" in this game, then, please, go back to college and at least refresh your algebra skills.
Edited by hagopn, 31 January 2014 - 03:10 PM.
Posted 31 January 2014 - 03:57 PM
(Reuters) - U.S. power company ContourGlobal said it will acquire three hydroelectric power plants in Armenia in a $250 million deal.[/size]
The company said it had bought the Vorotan Hydro plants for $180 million and planned to invest an additional $70 million, making it the largest single U.S. private investment in the Caucasus country of 3.8 million.
The deal may decrease Armenia's dependence on Russia, Yerevan's main trading partner and biggest foreign investor which is due to boost its control over the country's natural gasinfrastructure.
The Vorotan Hydro Cascade complex is a series of three hydroelectric power plants totalling 405 megawatts on the Vorotan river in southern Armenia.
It accounts for about 15 percent of Armenia's power capacity and provides energy for 250,000 homes.
A long-term power purchase agreement was signed on Wednesday between ContourGlobal and the Armenian government.
The agreement says the company will invest $70 million over the next six years in a refurbishment program to modernize the plants and improve their performance and safety.
Armenia plans to join a customs union led by its former Soviet master Russia and has approved a deal under which the Russian state gas export monopoly Gazprom (GAZP.MM) will take over full ownership of its subsidiary ArmRosgazprom, by acquiring the remaining 20 percent of shares from Armenia.
Russia has invested $3 billion in the country with a GDP of $9.9 billion in 2012, according to the World Bank.
(Reporting by Hasmik Mkrtchyan; Writing by Margarita Antidze; Editing by David Evans)
Posted 31 January 2014 - 04:50 PM
I don't get it. Why would you need foreign "cash" and "resources" (not) to rework a(n already functioning and profitable) domestic project and then expect "independence from Russia"? Why, if you decide to do the renovations and improvements yourself, by issuing your own government credit, and the contracting out domestic, or even diasporan Armenian expertise, to accomplish this, where is the problem in doing that?
It's the same old stupid "my Boss is better than you Boss," with the additional illusion of "Pitting one Bear against the Lion" deal? They'll both eat you!
Edited by hagopn, 31 January 2014 - 04:51 PM.
0 user(s) are reading this topic
0 members, 0 guests, 0 anonymous users