Friday, 25 July 2014
Prime Minister: sales of Vorotan HPS to be held for the benefit of our State
During the working visit to Dilijan,Prime Minister Hovik Abrahamyan responded to a number of media representatives questions.
On the issue related to the sale of Vorotan Hydro Complex JSC, the Prime Minister said, “We are not set to refrain from the alienation of the Vorotan HPS. The new government is doing everything to make this transaction take place, but in the interest of our State and economy and to comply with all points of the law. Of course, there are drawbacks and points that are unacceptable, for example, the scale of profitability is very high-23.5%, and I am absolutely against it. There may not be such a bargain, in which a future buyer enjoys a profitability of 23.5%. There have been no such deals in our country, and now we are working on this important fact. We attach great importance to a large American company’s investing an equivalent of USD180 million in our economy. With regard to the credibility of the company, I see nothing dark, because we have already been working in transparency for some 2-3 months. There is no pressure or impact. There are rumors that we want to declare the transaction invalid and hold a disposition in favor of any Russian company. If it is invalid, as the Prime Minister, I am against the alienation of the Vorotan HPS to another country. The American side was made aware of our approaches - all the fundamental points with which we disagree. They will give an opinion, should they accept our approaches-well, if not, the transaction will not take place and we will not alienate the Vorotan HPS..”
In connection with the decision taken at yesterday’s Cabinet meeting on the shares of Nairit-2 CJSC, Hovik Abrahamyan said, “There is debt accumulated there, and we need 3-4 days to discuss and decide upon. We will take action so that each process had its real picture. I do not see any obstacles, no stiffness, and if there are people responsible for these events, they will be held responsible.”
The Premier also touched upon Armenia’s economic policy priorities: “Armenian citizens’ well-being directly depends on the development of our economy, and its derivative would be our success in all spheres.”
