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Mass media: Activist Ani Navasardyan detained on charge of provoking mass unrest

Serviceman of NKR Defense Army killed from adversary's shot

Group of journalists arrives at seized building of the Police Patrol Service Regiment

Investigative Committee: Charges pressed against three citizens of Armenia for participation in mass disorders

"Sasna Tsrer" released the rest two hostages -Osipyan and Yeghiazaryan

Russian Foreign Ministry criticized EU's statement on events in Yerevan

Major General Vitaly Balasanyan provides details of his meeting with "Daredevils of Sasoun"

Armenian Foreign Ministry verifying if there were citizens of Armenia among Munich shooting casualties

National Security of Armenia confirms: Members of armed group voluntarily release two of four hostages

National Security Service of Armenia says two persons tied to armed group detained

Nikol Pashinyan: Levon Ter-Petrosyan and Serzh Sargsyan plot yielding territories around Nagorno Karabakh to Azerbaijan

"Daredevils of Sasoun" reportedly releases two of four hostages

NKR Defense Army soldier wounded, as Azerbaijan violates ceasefire

Armenia and UAE sign agreement to boost and protect investments

Sharmazanov: It is more likely that Kura River changes its course and falls into Black Sea than Karabakh becomes part of Azerbaijan with any status

Galust Sahakyan: Talks on possible resignation of Armenian government are rumors

Russian political scientist: Destabilization of situation and pressure on authorities prevail in "Sasna Tsrer" group's actions

Statements that five districts adjacent to Nagorno Karabakh will be passed to Azerbaijan exert pressure on the process, Bryza says

Levon Ter-Petrosyan: It is senseless to analyze the reasons that led to armed seizure of state building

President: In Armenia problems are not settled through brutal force and hostage taking - this situation continues longer than we can afford

Serzh Sargsyan: Punishment of those guilty inevitable

Newspaper: After talks with "Daredevils of Sasoun," Vitaly Balasanyan met with Serzh Sargsyan

Social media warn: physical attack prepared on Nikol Pashinyan

Views from Tel Aviv: Loss of control over country may push external powers to settle Karabakh conflict not in favor of Armenian people

Armenia's Defense Ministry confirms: Azerbaijani side targets school in near border village of Movses

Maria Zakharova slams Armenian and Azerbaijani journalists

Azerbaijan keeps intensively violating ceasefire on Line of Contact

Republican Party of Armenia for peaceful resolution of standoff and hostage situation in Yerevan

Night was calm near seized building of Patrol Police Station in Yerevan

Government of Armenia dismisses idea of creating "Aviation Code"

Cyber security specialists to be trained in Armenia with support of Kaspersky Lab

Zakharova: Moscow hopes process around Nagorno Karabakh will not lose its dynamics

Paul Goble says Moscow has lost its interest in Christian Armenia and is moving to increase its ties with majority Shia Islamic Azerbaijan, Armenia's longtime enemy, and now with Sunni Turkey

Vartan Oskanian sees the solution to the current situation in Yerevan in political field only

Meeting of Vitaly Balasanyan and armed loyalists of jailed oppositionist is over; no details are reported

Maria Zakharova: We support measures taken by Armenia's authorities over seized Patrol Service Regiment in Yerevan

EU Delegation in Armenia makes a statement on recent events in Armenia

Forecast: Russian policy's stagnant Armenian vector fraught with "Ukrainization" of Armenia

Authorities send Vitaly Balasanyan to rebels as negotiator

View from Moscow: Role of April war in current protests in Armenia should not be underestimated

Healthcare Minister: None of those suffered in clashes at Khorenatsi Street is in extremely critical condition

Ara Abrahamyan: Situation in Yerevan demonstrates that there is a need for dialog between society and authorities

Azerbaijani side did not lead OSCE mission to its frontlines during planned monitoring of Line of Contact

Armenia's Economy Minister calls for tolerance and reasonableness

Analyst: In negotiations with Zhirayr Sefilyan's supporters authorities should consider factor of weapons fallen in the rebels' hands

Investigative Committee: 16 people arrested on suspicion of participating in mass disorder at Khorenatsi Street

In H1 2016, Anelik Bank increased deposit portfolio by 13.5% y-o-y due to significant growth of private deposits

Adversary continues to intensively violate ceasefire on Line of Contact

Armenian Police gives explanations related to clashes at Khorenatsi Street overnight

Police: 136 people detained following clashes at Khorenatsi Street

Regional

Economist: Shares of the Vorotan Hydroelectric Power Plant should be offered to the society

  • Wednesday, June 25, 23:48

The shares of the state CJSC "Vorotan Cascade Hydroelectric Power Plant" should be offered to the society, the known economist Tatul Manaseryan said at today's press-conference when commenting on an interview of the second president of Armenia, Robert Kocharyan, with erkir am. portal regarding the sale of the Cascade to the American company "Countour Global".

To recall, Kocharyan said in the interview on 23 June that the only positive thing about privatization of the Vorotan Cascade of HPPs is investment of the U.S. capital in Armenia's energy system. He said the most attractive element of energy generation in Armenia is sold on a very obscure scheme in circumvention of the effective law and neglecting the Parliament's views. "Inherently, the deal on sale of the Vorotan HPPs resembles a sale of some old office furniture," the second president said.  According to him, the contract on sale of the Vorotan HPPs is drafted very asymmetrically.  It is not in favor of Armenia, as it leaves Armenia no chances in case of legal proceedings.  "Obviously, such wrong deal will lead to an increase in the electricity rate in Armenia. Actually, the ordinary citizens will again suffer from the mistakes and greed of statesmen. There is an impression that the contract was drafted without participation of the Armenian party. It is not too late to revise or even disclaim that contract. The deal was so unlawful that the persons involved in it will be brought responsible one day.  It is just a matter of time!  Although, it is a very obscure deal also for the buyer,"  Kocharyan said.  

Manaseryan said that the tariff of the electric power generated at the Cascade prevails the sales tariff to the final consumers for several dozens times. In Armenia one can meet such a difference everywhere. This attracts foreign investors. "Investors do not simply come and make investments", - he said and added that Armenia itself can organize the work of the Cascade.  The foreign investment "fever" is dangerous for Armenia. Armenia makes itself dependent on foreign investors and does not think about the need to promote domestic investment, he said and added that there are the respective resources, since the amount of released money in Armenia is virtually equal to the country's GDP. "The shares of the Vorotan [Hydro] Cascade can be introduced in the local stock market and forced to make this money work. Having such resources, however, we  already have accrued an external debt amounting to half of the GDP and we think about how to pay it off," Manaseryan said and added that this is a result of the crackbrained policy conducted by the authorities, which should be terminated.       

For his part, another participant in the press-conference, a member of the parliament Vartan Bostanjan, thinks that there is nothing new in Robert Kocharyan's interview.  He said that it is inadmissible that because of balance the Cascade is sold to the American company. "This is a wrong approach, as anyway interests of the state should be taken into consideration.  But if they are not taken into consideration, there is no need to who a facility was sold to - the Russians or the Americans, he said. He also added that the authorities understand very well what is going on, but are silent, as they scare damaging their business which allows them to live. 

To recall, the Vorotan Hydro Cascade comprises three electric power plants.  The Government of Armenia was the 100-percent shareholder of the Vorotan Hydroelectric Power Plant. On November 27, 2013, the Public Services Regulatory Commission of Armenia had confirmed the deal to sell the Vorotan Hydro Cascade to the American ContourGlobal company, and for $180 million. 

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